Quick Start Commercial Real Estate Formula – 21 Steps to Success

Do you want to know a secret? It’s easy to make loads of money in commercial real estate, you don’t even have to be that smart! You just have to know what to do and then do it.

So, as I sit on a plane flying to Dallas to take my daughter to SMU, I decided to give her a QUICK START commercial real estate formula: 21 Steps to Success:

1. YOUR ATTITUDE: Attitude is simply the biggest key to success. If your attitude is not 100%, do whatever it takes to change it, don’t underestimate this critical step. You achieve what you can believe.

2. YOUR VISION: What kind of business do you intend to have? Are you one of the big shots? If you can’t see it, you can’t achieve it. You should spend some time detailing where you plan to be 1, 3, and even 10 years from now.

3. YOUR GOALS: Think about this, without goals, what are your chances of achieving them? Start with one income goal and then break it down into smaller goals to support your income goal.

4. MANAGING YOUR TIME: Learn to block time, limit interruptions, and delegate as much as you can.

5. YOUR PLANNING POWER: Daily planning is not only important, it is essential for success. Each morning, review your top goals and deals, and then create a list of action steps to support them. Check off the action steps to make money first.

6. YOUR POWER OF EXECUTION: Don’t get stuck in planning and forget to execute!

7. YOUR DATABASE: Quality over quantity. Make sure it’s up to date and allow it to grow. Your database is the most important thing when it comes to creating an asset that supports the growth and success of your business.

8. YOUR NICHE CAPABILITY: Be an expert in one type of product, geographic area, or both.

9. YOUR NETWORK: Regularly work at trade association meetings, mastermind groups, leadership groups, wherever your ideal client is.

10. YOUR ABILITY TO READ: Read everything: trade magazines, newspapers, appropriate newsletters, anything relevant to your business.

11. YOUR SALES TOOLS: Make a list of the sales tools you need and then purchase them.

12. YOUR SALES SKILLS: Also make a list of the sales skills you think you need and then learn them.

13. YOUR PREPARATION: The opposite of preparation is failure.

14. YOUR WILLINGNESS TO BE IN MASSIVE ACTION: Important: Successful people take more action steps

every day, many more!

15. YOUR MARKETING SKILLS: I’ve come to realize that good marketing skills supersede good sales skills when it comes to being successful. Invest in some good marketing skills, you’ll thank me.

16. YOUR LINE OF PROSPECTS: Always look for prospects. Choose three weekly prospecting activities to keep your portfolio full. The idea is to prevent the “feast or famine” cycle by being consistent with prospecting even when you think you don’t have the time or the need.

17. YOUR ABILITY TO SOLVE PROBLEMS: Did you know that prospects would pay almost anything to solve their problems? Learn all about the problems your ideal customer experiences and become a master at solving them.

18. YOUR ABILITY TO LISTEN: Talk 20%, listen 80%. Know what questions to ask.

19. YOUR FOLLOW-UP: Most clients fire their commercial real estate professional due to lack of follow-up. Don’t let this be you. Remember, plan daily and include follow up. And it communicates well, badly or indifferently; it is communication of ANY kind that is the key.

20. YOUR COMMITMENT: Decide if you are interested in being successful or committed to being successful because unless you are committed you will not be. There are too many things to be interested in, but only a few to commit to.

21. YOUR SELF-DISCIPLINE: Your determination and ability to achieve your goals and meet your commitments.

Well there you have it, 21 steps. Good luck and please let me know if I can be helpful with any of the above.

Leave a Reply

Your email address will not be published. Required fields are marked *