3 Essentials to Making More Money in CRE Brokerage

This post originally appeared on tBL Marketplace Partner member The Massimo Group's Blog The Massimo Group Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.

//?#

In my first book, Commercial Real Estate Brokers Who Dominate, I shared the 8 traits of top producers. These traits are proven habits of successful commercial real estate folks, and most likely applicable to most successful sales or consulting professionals.

However, what foundation of success do these successful practitioners focus on? Each understands that everything starts with clarity in 3 fundamentals:

Every successful CRE professional understands success starts with clarity in these 3 fundamentals.Click To Tweet

1) Your value proposition

Why would a prospect elect to talk to, meet with, and ultimately engage in you? Not your firm, not your team, but with you. What is YOUR value proposition? Does it clearly articulate who you are, why you should be heard and how you can assist your prospect?

2) Your presence

It's not who you know, but who knows you. Your reputation – how you are perceived, plus your character – who you really are. It's a reflection of your value proposition and your ability to share that proposition amongst your friends, clients, prospects, affiliates and influences. Your presence is essential in the third element of your success.

3) Your prospecting

Who is your target audience and how are you leveraging both your value proposition and your presence initiatives with your prospecting efforts? Prospecting is the disciplined approach to asking for business. Let me repeat that. Prospecting is the disciplined approach to asking for business. Any attempt of asking for business without a strong value proposition and a solid market presence is nothing more than self-inflicted failure.

Prospecting is the disciplined approach to asking for business.Click To Tweet

At the Massimo Group, we consider the above 3 principles your "P-Factor". In working with over 1,000 commercial real estate professionals over the last 8 years and tracking their individual efforts/metrics, we can empirically state that those with the highest "P-Factor" have the highest production.

We use this simply formula to reflect this P-Factor.   P+P+P=P3.

Granted, mathematically, it is not accurate; however, combining a clearly articulated value proposition, with a strong market presence and a consistent, targeted prospecting campaign has an exponential impact on one's production.

Here is the question you need to ask yourself – What is your P-Factor?

The post 3 Essentials to Making More Money in CRE Brokerage appeared first on Massimo Group.

About Rod Santomassimo

Rod Santomassimo has written 95 post(s) in this blog.

Rod N. Santomassimo is the founder and president of the Massimo Group. A Certified Commercial Investment Member (CCIM), Rod possesses more than 25 years of commercial real estate industry experience, a solid financial background and a proven growth track record that has repeatedly led to increased individual and company revenue. The Massimo Group is North America's leading coaching and consulting organization focused on the commercial real estate community. The team's combined 250 years of commercial real estate industry experience and proven growth track record has repeatedly led to increased individual and company revenue. The firm's clients include representatives from almost every international and national commercial real estate firm, and scores of regional and local firms. Prior to creating the Massimo Group, Rod led the international brokerage firm of Sperry Van Ness, serving as Executive Vice President. During his tenure Mr. Santomassim o was responsible for the general oversight of the organizations franchise operations and the productivity of its 800 advisors and for the successful transition of the company's corporate offices to its largest franchisee. Rod was also responsible for the development and implementation of the company's new franchise training programs as well as SVN's continued education platforms. Rod earned a Masters of Business Administration from Fuqua School of Business, Duke University, in Durham, North Carolina. He also earned a Bachelor of Arts in Commerce from Washington and Lee University in Lexington, Virginia. He is a featured guest lecturer at the Fuqua School of Business. Rod is a two-time recipient of the Duke University, Fuqua School of Business Impact Alumni of the Year Award based on his work with both graduate students and alumni in Building a Personal Brand and Creative Approaches to Secure Greater Client/Prospect Opportunities. Rod authored Brokers Who Dominate, 8 Traits of Top Producers. This book was launched in October 2011 and quickly became the best-selling book in the commercial real estate brokerage industry on Amazon.com. Follow Rod on Twitter @massimogroup.

Source: 3 Essentials to Making More Money in CRE Brokerage