The Top 5 Ways for Commercial Real Estate Brokers to Save Time

Not too long ago, I shared with you the top five ways that commercial real estate brokers in my courses wasted time. Since I’m a solutions-kind of guy, here are five ways to turn time wasting habits into time saving habits. Follow them, and you’ll get our industry’s holy grail — more money without working more hours:

  1. Focusing on the task at hand. Build the tasks that you need to do, but don’t really want to, into your schedule. Blocking out time for things like cold calls and atabasing and then sticking to your commitment will let you do more of those things in less time and free the rest of your time up to work on other things.
  2. Networking strategically. Who’s the most important person that you can meet? Someone who is a prospective client. How’s the second most important person you can meet? Someone who can convince a prospect to become your client. Focus your networking activities on meeting people that can send you business. You’ll make more money and you’ll spend less time standing around with vendors and with competing commercial real estate brokers.
  3. Using email and social networks to deliver information. Electronic communication is a powerful way to disseminate marketing messageslike notifications of your transactions and newsletters. This lets you send the same emails to many people, saving you a great deal of time. It’s also a great way to send instructions to third parties. Talk to clients and prospects, though. That way, they’ll see how great you are at what you do!
  4. Using the phone as a gateway. If you’re on the phone to collect information, consider doing it over email. If you’re on the phone to create or maintain a relationship, keep the call as short as possible. Your whole goal should be to sit down with the person on the other side of the phone and talk to them face to face. A 30 minute conversation takes as much time in person as it does on the phone and, if you book your meetings back-to-back, it won’t take any additional travel time.
  5. Dominating a market. Find a niche in your community’s commercial real estate market and exploit it. Whether you work on office landlord representation deals on the east side of your area or you specialize in selling single-tenant net leased drugstore properties, having focus in your business will save you a great deal of time. You can have the same conversations with different clients and use the same market information to do multiple transactions. At the same time, you also build marketshare which helps to breed more marketshare.

What’s your best time-saving technique? Let us know below in the comments section!

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