Commercial Real Estate Brokers: 4 Ways to Maximize Your Money
What makes the most successful brokers the most money is like the 80/20 rule from Pareto's law.
20% of the brokers out there make eighty percent of the month’s money.
I know a lot of you are asking yourselves, “Why do they make it?”. Well because they're smart to start with and they'll listen to somebody that knows. I want to tell you the guys that makes the most money, are the guys that know how to sell the deal and get out of the way to let somebody else close it.
Sales is two parts, one part listening and one part talking.
Before you know what it takes to sell somebody you've got to understand what they're saying. You have to listen to them and then give them what they want. Here are a few important things that most do not understand about sales:
Number one, return your phone calls.
Number two, return your emails.
Number three, tell the truth.
Number four, actually care about them.
If you follow these simple rules, you find yourself within the top 10 percent of all people in sales, possibly in the top 10 percent of all business.
Next thing you need to focus on is learning how to gather information correctly. One of the biggest things that I see in the broker world is that you can't get a good applicant to complete the application. I only see one out of a hundred applications that are completely filled out correctly. it’s not that hard, just take your time. Don't be lazy and try to shortcut the process, if you do that you're going be sorry. Just do it right the first time and you will find yourself in the top 3% of this industry.