Conversations Drive Commercial Real Estate Sales
Last night, I had to turn on my electric snow melting mats. Again. In March. So you’ll understand why I’m spending a lot of time this morning thinking about our Annual Conference in San Diego.
And what I’m thinking about is the challenge that our CEO, Kevin Maggiacomo, issued to everyone in the room: Have five real conversations a day, every day.
Many of you are reading this and thinking that this isn’t a challenge. After all, you talk to 10, 20, 30 people every day, right? As I write this, it isn’t even 7:30 am, I’ve already spoken to 3 people, and I’m not even in a direct sales position anymore!
Let’s look at what Kevin said one more time… “Have five REAL conversations a day, every day.” That one word – real – makes a big difference. A real conversation is one that you have with a person who is truly in a position to sign a listing, lease, or purchase agreement. Real landlords, real owners, real tenants or truly real buyers. To be clear, I define a real buyer as someone who already owns or leases commercial real estate.
And here’s another kicker… If you’re already doing a deal with someone and you have to talk to them anyways, they don’t count.
Now that we’ve narrowed down “real,” THOSE conversations are usually a bit more few and far between. So, if you aren’t talking to five of those people a day, starting to do that will revolutionize your business. And if you can talk to more than five (when I brokered, my goal was 10 and my average was 8!), you’ll do even better.
How to Have Five Real Conversations a Day
If you aren’t having five real conversations a day, you probably have two questions at this point:
- How do I find these real people?
- What do I talk about when I get them on the phone or in front of me?
First question… The real people are in your database. Anyone that you aren’t working with today is someone that you need to talk to today. And if you don’t have a database, there’s no time like now to get started (take a look at the first couple of lessons in the SVN System for Growth course on “Encyclopedic Market Knowledge” for help getting started). We can give you all kinds of strategies for how to strategically segment your database and build smart call lists. But for now, here’s a simple three-step rule:
- Find someone in your database that you haven’t spoken to in a while.
- Call him or her.
- Repeat until you’ve spoken to five different people.
Second question… What do you talk about? Dr. Dotzour nailed it at the conference… Owners and landlords care about two things – will my building stay full and will my value go up. Anything that can impact values (or net operating incomes) or occupancy is fair game, and a great way to start a conversation. It’s that simple.
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