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How to Double Your Commercial Real Estate Prospecting Results

By Jim Gillespie | June 25, 2013

How many leads are you finding these days out of every 100 prospects you’re talking to live? Five leads? Ten leads? Even more?

So much of your results depends on the specialty that you’re focused in right now within commercial real estate brokerage, and the current level of activity within your own market, too.

One of the most important skills I learned as a commercial real estate broker was how to ask my prospects for leads…even when the prospect had no commercial real estate needs at the time. As long as you’re calling people on the phone and/or walking into their offices and trying to talk with them, why not ask them who they know who may have a commercial real estate need right now? When you feel that the moment is just right within the conversation, ask the person, "Who do you know who may be looking to buy, sell, or lease commercial real estate?" This is a much better question to be asking them when compared with asking, "Do you know anyone who’s looking to buy, sell, or lease commercial real estate?", because the latter question allows the person to more easily say "No" without really even thinking about it. But the first way of phrasing the question doesn’t really allow for an easy "No" response to come from them, and it presupposes that they already know someone who’s looking.

So in some situations, especially in those when you’ve developed better rapport with the person, when you ask them the first question they’ll find themselves thinking, "Yes, who do I know who’s looking to buy, sell, or lease commercial real estate?", and this is exactly the path you want them to be following within their own minds.

When I finally learned how to do this I literally began doubling my prospecting results overnight. Because now if I was uncovering one lead out of every 10 people I was speaking to live, I only needed one out of those same 10 people to give me just one lead for me to double my prospecting results.

So even if you’re getting only one lead out of every 20 or more people you’re speaking to live these days, similar to what I experienced, there could be great opportunity waiting for you in the many people who don’t really have any real estate requirements right now. 

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The National Realty Group

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