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5 Things Top CRE Brokers Do Before Breakfast

May 4, 2017
Commercial Real Estate
By: Vivian Nguyen

Succeeding in real estate means pushing hard every day to secure relationships with quality prospects and help existing clients win in the marketplace.

The top CRE brokers are those armed with the best tools and strategies to help them work quickly and efficiently from the minute their day begins. Use these 5 tips to set yourself up for success every day.

top cre brokers

1. Top CRE Brokers Respond to Existing Customers

Quick, if not immediate, response times are the key to building trust with your customers. Customers who believe you’re accessible and trustworthy are more likely to refer you to new clients, and will quickly help grow your network of leads.

A recent survey showed most brokers claim less than 20% of their past clients were sending new leads, but that 75% of their business is generated by referrals. With 20% of past clients responsible for 75% of your business, you need to make sure you’re doing everything you can to boost referrals, and that starts with making sure you’re accessible to existing customers.

2. Top CRE Brokers Identify Opportunities through Current Events

Thanks to social media, industry publications, and news alerts, staying on top of current events is easier than it’s ever been. Successful brokers use current events as a tool to think creatively about the marketplace. Stay on top of current events that could be potential investment opportunities or challenges, and be sure to communicate that information prospects and clients. You’ll prove that you are on top of the market and that you’re looking for ways to serve prospect and client needs.

Consider Amazon’s recent announcement that they are planning to build multi-story industrial complexes to serve their customers more quickly. Knowing how Amazon operates, it’s likely they’ll want to be near dense urban areas with specific demographics, which could potentially affect retailers in the area. Your market knowledge could help retailers anticipate and navigate around potential challenges or opportunities.

3. Top CRE Brokers Research Opportunities and Provide a Visual Representation

As they say, a picture is worth a thousand words, and this is especially true when it comes to real estate. Map-based visuals like those available in LandVision can help you communicate abstract concepts to customers. Speed is always of the essence in real estate, and visuals are the easiest, fastest way to illustrate where the best opportunities are.

Using Amazon as an example again, if you want to show prospects exactly where Amazon might consider locating, a digital map showing dense urban areas overlaid with demographic information presents powerful data to clients for more informed decision-making.

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4. Top CRE Brokers Cold Call

80% of what brokers actively do each day is pick up the phone and connect with prospects. Make this process more efficient by first zeroing in on high net worth individuals and research their portfolios’ to ensure they are actively investing. Learn their portfolio, and understand what they are investing in and where they are investing. Information is power and doing the research to gather data positions you as a market authority.

When cold calling you have only 8 seconds to capture a person’s attention. Optimize those 8 seconds by entering the call as informed as possible about your prospect’s net worth, portfolio, and the specific opportunities you’ve identified for them. Using a tool like LandVision will help you identify the best properties for your prospect, and will also deliver comprehensive information about prospect portfolios that they may not even know about themselves.

5. Top CRE Brokers Document their Leads and Activity in a CRM

The most efficient brokers sell smarter and faster by keeping information organized so that they are able to respond to any activity quickly. All top CRE brokers should be using a Customer Relationship Management (CRM) tool to be able to sell to and service your market faster. In real estate, it’s not just about winning customers—it’s also about keeping customers happy and gaining referrals. A CRM tool will help you do this while saving time and money.

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