Tag Archives: CRE fundamental skills

To Succeed in C.R.E. Focus on the Basics

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Top Dogs - tdogs.com

I was happy when a mentor told me that in any endeavor there are a half a dozen things that make up 95% of our success, and that there are hundreds of things that make up the other 5%. Our challenge is not to focus on the 5% but on mastering the fundamentals. The most successful people are those who master the basics. Fortunately, I also learned the correct syntax for success from my mentor. The proper foundation for success at anything is an education that compresses what it has taken other people years to learn into a few weeks.

The next level in the success pyramid is training and focuses on skill building. If there is no skill training, there cannot be any deliberate practice. Without deliberate practice there cannot be coaching to provide the immediate feedback necessary to assess what we have done correctly and where we need to improve. The role of mentors is to help us innovate and solve unusual problems. He taught me that the reason so many new commercial real estate agents have problems, is that they utilize a mentor as the basis of their career.  In this situation very little coaching occurs because the new agent tags along to meetings where the mentor does the heavy lifting. The new agent is the observer so there is nothing to coach. There is no deliberate practice because the mentor has no time for the necessary skills training. And an education in the fundamentals is almost entirely absent.

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The Top Dogs programs provide you the correct step-by-step path to success. How to Fast Track your Expertise in Commercial Real Estate will educate you quickly. How to Run with the Big Dogs in Commercial Real Estate will provide you the skills training. The action assignments will engage you in deliberate practice. This will allow your mentor to fulfill their proper role as your coach and provide you the immediate coaching and feedback necessary to perfect performance.

The simple truth is success only requires that people use the correct syntax. In the commercial real estate industry it is axiomatic that 20% of the broker’s produce 80% of the transactions. It is those who master the basics that produce. Be one of those few who focuses on and masters the basics of the business and learn how to produce.

 

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How to Win at Commercial Real Estate Brokerage

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As an adult, have you ever wanted to learn a new competitive sport? For me, it was competitive sailing. I moved the San Francisco bay area in my mid-30s, and had my first opportunity to go on a bay sail. I never dreamed that I would become a strong competitor in sailboat racing. How does this connect to winning in commercial real estate? The answer is, it connects in many ways.

Shortly after that first sail, I entered a boat partnership with somebody who knew how to sail. They were going to be my mentor. The problem was he had very little time, and we only sailed together a couple of times. I did not learn enough in those session to be able to sail alone. What was the solution? Learn quickly! To get started, I bought a handbook on small boat sailing. I had to learn the language of sailing. Commercial real estate has a language, and we must know it too. I had to learn all the component parts of the boat and how things worked. Commercial properties have a large number of components that we must learn. There are certain principles on how to approach the winds, tides and currents. We must understand commercial real estate principles, and there are also market winds, tides and currents. They can run can fair and foul. I also found some videos that taught me how to maximize my sailing progress.

After working on the basics and practicing, I had learned the fundamentals well. It took me substantially less time than a lot of people because I was willing to study and learn from a variety of sources. One day I had the opportunity to go on a sailboat race. The truth is, I really knew little about what was going on during that first race. But my sailing fundamentals were solid enough that, as long as I was directed properly, I could do my part. In essence, I was a junior team member, in the same way that newer commercial agents are junior team members. I quickly recognized that I didn’t want to be a junior team member. I wanted to win races! To do that I needed to learn to do two things well:

1) How to make the boat go fast, and
2) How to sail the course intelligently.

Fortunately, in my area, there were courses that taught these skills. The first focused on how to get the boat to perform at the highest levels. The other taught intelligent racing strategies, such as, how to get a great start, which way to go, when and how to maneuver, and how to perform in the presence of other competitors. Even if you have never sailed, I hope you can see the similarities to what we experience in the commercial real estate world.

Later, I found a next-level course on racing strategies and tactics taught by people who owned Olympic gold, silver and bronze medals. That allowed me to move into a class of boats called sports boats. These are high-performance sailboats. In that fleet, I had the opportunity to compete with some of the best sailors in the U.S. In order to be able to race with them, I needed coaches who had sailed at that level. Two of my coaches sailed in America’s Cup races and one of them, in the Olympics. In just a couple of years of sailing, I was able to compete effectively with people who had been sailing all of their lives. Trust me, that’s not easy to do, and it wasn’t based on luck. I made a fast rise in sailing for someone who came to it late in life, becoming a strong competitor and I won my share of races. During these years, I also raced on other people’s boats, many of which had done very little to prepare to win. And while I could help them to move up in fleet, I couldn’t help them win, because they were not prepared to win.

To win at commercial real estate, you must be prepared, you must learn the fundamentals and practice the skills needed for success. The reason that so many people struggle and fail for several years before they make it, if they make it all, is because they are not willing to do what it takes to win. They dream about competing with the gold, silver, and bronze level commercial brokers in their market, but without doing the heavy lifting. Winning at commercial real estate can be done fairly quickly. It takes proper preparation, planning and execution. And like earning a trophy in competitive sailboat racing, you must learn before you earn, so you, don’t get burned.

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Expanding Your Business With Commercial Real Estate

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Expanding Your Business With Commercial Real Estate - TDogs.com

 

One of the most pervasive myths is that commercial real estate is difficult and takes years to break into. Thousands of real estate agents have discovered that they can expand their existing business with commercial real estate transactions quickly and easily. They also discovered that they love doing commercial transactions because they are interesting and the money is really good. Plus, they have proven that they can get the results their clients want.

 

That is because they discovered that all of the old barriers that kept them out of commercial transactions are gone. In the past, the mainstream commercial companies controlled the information and resources and that kept residential agents out of the commercial markets. That means that these residential agents left thousands of dollars in commissions on the table.

 

For you to earn big money in commercial real estate you don’t need to go to a mainstream commercial house or to set up a commercial practice, all you need to do is to ask your clients about their commercial real estate needs. How many of your clients own their own businesses, want to start a business, or have a position of authority in a company that occupies commercial property? How many already own or want to own commercial real estate? All you need to do is to tap into the commercial real estate needs of your existing clients.

 

To do that you need the fundamental knowledge. And luckily you can get that knowledge quickly and stop leaving your commercial commissions on the table for someone else to pick up. What that really means is that you can dramatically increase your income by tapping into the big commissions that commercial agents routinely earn.

 

To learn more, check out the Top Dogs programs which are instantly available via streaming video with e-book manuals. Or on DVD with a hard copy of the training manual. Both include downloadable property and financial questionnaires and client requirement assessment tools.
 

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5 Steps to High-level CRE Success

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Five CRE Success Strategies

1- Bring Them the News – Identify changes or a new trend in your market service area that your prospects need to know about. Then narrowcast this information to them. Start by making calls to them with important news to share, and why they need to know it. Also use Youtube, a webinar, or a podcast to narrowcast your message.

2- Communicate Confidently – Know your song well before you start singing. The only way to develop a confident communication style is to practice, roll play and get feedback on your practice. How you say something always speaks louder than what you say. Wrap your message in stories to make them engaging and memorable. Be passionate about helping your ideal client and let your passion show.

3- Get Competitive – Commit to being the top cold-caller in your firm for a full month to generate new, solid leads. Then build relationships with those leads. It takes 5 to 8 contacts to build trust. Structure your lead follow-up to ensure 5 to 8 contacts within a few weeks. Do this by always leaving them with a promise to do something for them, and then fulfilling on your promises. Follow up, and remind them that you are keeping your promises.

4- Create Certainty – Clients are looking for a FEELING of CERTAINTY that if they work with you, that they will get what they want! For them to get this feeling, you must build your expertise. Webster says an expert is, “a person with knowledge, skill and experience in a particular field”. Adopt an intense approach to education and training to master the basics. You need to get better and smarter, fast. This is the only way to harvest the lifetime value of the account.

5- Be an Athlete – Develop the attitude of top athletes. Nobody practices the fundamentals more than the professional athlete. It’s all about constant improvement in the fundamentals. Sharpen your skills daily.

Use the Top Dogs programs to improve your business. “People want to hire the best, and skip the rest”, Bob McComb

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Five CRE Success Strategies

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Man about to walk over precipice on SUCCESS word bridge. Dream sky and mountains. Motivation, ambition, business concept.

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Five CRE Success Strategies

1- Bring Them the News – Identify changes or a new trend in your market service area that your prospects need to know about. Then narrowcast this information to them. Start by making calls to them with important news to share, and why they need to know it. Also use Youtube, a webinar, or a podcast to narrowcast your message.

2- Communicate Confidently – Know your song well before you start singing. The only way to develop a confident communication style is to practice, roll play and get feedback on your practice.  How you say something always speaks louder than what you say. Wrap your message in stories to make them engaging and memorable.  Be passionate about helping your ideal client and let your passion show.

3- Get Competitive – Commit to being the top cold-caller in your firm for a full month to generate new, solid leads. Then build relationships with those leads. It takes 5 to 8 contacts to build trust. Structure your lead follow-up to ensure 5 to 8 contacts within a few weeks. Do this by always leaving them with a promise to do something for them, and then fulfilling on your promises. Follow up, and remind them that you are keeping your promises.

4- Create Certainty – Clients are looking for a FEELING of CERTAINTY that if they work with you, that they will get what they want!   For them to get this feeling, you must build your expertise.  Webster says an expert is, “a person with knowledge, skill and experience in a particular field”.   Adopt an intense approach to education and training to master the basics. You need to get better and smarter, fast. This is the only way to harvest the lifetime value of the account.

5- Be an Athlete – Develop the attitude of top athletes. Nobody practices the fundamentals more than the professional athlete. It’s all about constant improvement in the fundamentals. Sharpen your skills daily.

Use the Top Dogs programs to improve your business.

“People want to hire the best, and skip the rest”, Bob McComb.

 

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