Ever searched CoStar for tenants to call on? Did it go something like this “Search submarket, 10,000 – 75,000 RSF with their lease expiring in 24 months”. As brokers we’ve all been there and we’re all basically calling on the same tenants from the same list. CoStar has done a lot for our industry, and a quick way to search for tenants to call on is one of them. However, I started to realize that I needed a different list to call on in order to stand out. So, about 2 years left in my brokerage career I turned to LinkedIn for an additional list to call from. Have you ever tried doing a search for tenants to call on from LinkedIn? If you haven’t, here is a quick step by step process to try it.
Case Studies are great. I used them in a lot of pitches, I even used them as leave behinds when I’d walk buildings. But, don’t put too much information in there that can be used by a tenant without hiring you. Let me tell you a little story….
This blog will be a very quick tip, but an important. I heard a sales trainer tell his story about always stopping by 2 companies within the same office building or industrial park as the meeting he had with a company in that building or park. So I tried, and it worked about 35% of the time. Meaning that I saw the person I wanted to see about 35% of the time when I had another meeting in their building. I just simply knew exactly which two companies I was going to call on and which individual I wanted to see. I’d walk right up to the receptionist and say “I just got done meeting with ABC company in your building and was hoping I could meet with Mr. X for 5 minutes.” Worked like a charm and might as well make 2 extra calls while you’re in a building. The Rule of 2…
As a young broker I think it is a right of passage to walk door to door of an office building or industrial park making in person cold calls. It helps you learn the buildings and tenants, and gives you local knowledge of your market. If we’re all honest with each other…. It sucks, and not many brokers enjoy doing it. However, it doesn’t have to suck and you can make it fun…..
So, now that I have got my point system in place, I’m starting to set up more meeting, and go on more pitches. I’m also making a lot more calls and getting the “how are you different than any other broker that calls me? You’re the 5th one that has called this week!” I had a hard time answering that question 1.5 years into my commercial real estate brokerage career. Then a man that talks really fast walks into our Colliers Atlanta conference with an idea to stand out. Rent to Revenue.