real estate broker working on a deal

Some of the top commercial real estate brokers rely on their daily routines to take their business to the next level. While being an expert in your field is certainly important, there are some tips and strategies you may not have considered that can make a huge difference in your business. Here are five unexpected tips for being a great real estate broker. 

1. Have A Morning Routine

Start the day off on the right foot with a consistent morning routine. Great real estate brokers do not just leave their day to chance; they have it planned out. While morning routines vary from person to person, finding a consistent routine is the key to thriving. Many commercial brokers start their day with exercise, reading the news, and/or time for gratitude and meditation. Early mornings are the ideal time to focus on your own well-being while taking advantage of the quiet time to focus on your goals for the day ahead.  

Your morning routine should eventually transition into your lead generation efforts. Your morning routine should include reviewing your schedule for the day ahead and ensuring you have set aside dedicated time for cold-calling — prospecting is a critical part of every real estate broker’s day. Make a commitment early in the day to cold-call and hold yourself accountable. 

Even if you’re not landing new business at this time, keep in touch with your warm prospects and attempt to reconnect with ones that have gone cold. 

2. Stick To An Evening Routine

Ending your day on a positive note sets the tone for tomorrow. Before leaving the office for the day, review your schedule for the next day so you are prepared. It is also beneficial to make a to-do list that includes the top three to five high-priority items that you need to focus on the next day. It is easy to get distracted with emails, phone calls, and unplanned property tours, but having your day planned the day before can help you stay on track. 

COVID-19 has changed much of the commercial real estate deal-making world. CRE deals haven’t stopped, but are moving at a much different pace. Now more than ever it is important to think strategically about the state of the industry and what opportunities make sense for your broker business. Ask yourself these questions at the end of every day to become a more strategic real estate broker tomorrow: 

  • When you compare office, multifamily, industrial, and retail properties, where will the best returns be for your clients?  
  • What is the supply and demand for real estate investment properties in your region of focus?
  • What is your plan for distressed assets? 
  • What new tools could you implement to uncover opportunities and close deals faster?  
  • 3. Dive Into Personal Development

    Being a great real estate broker requires you to have advanced knowledge of your local market and the skills necessary to get the best deal for your client. In addition, focusing on personal development can be a secret key to your success. Schedule time to read an entrepreneurial book, listen to a leadership podcast, or attend a business conference and you will likely be surprised at your personal growth. Reading just ten pages per day in a personal development book, or listening to a 30-minute podcast during your commute to work can have a profound impact on your success. 

    4. Stop Working

    This one may catch you off guard, but taking a break is an important part of being a great real estate broker. Many commercial real estate professionals love their careers so much that it can easily take over their life. While loving what you do is a great thing, taking time off from work can help you in the long run. Schedule time to go on vacation, take a road trip with your family, or simply disconnect for the weekend. By letting your body relax and your mind unwind, you can come back to work feeling refreshed and recharged. 

    5. Never Stop Learning

    When you get to a certain point in your career, it can feel like you have mastered everything you need to know about being a real estate broker. However, things are always changing so it is essential that you keep up. From technology advancements to new rules and regulations to new marketing strategies, the industry is constantly evolving. Attend networking events, CRE conferences, and take additional continuing education classes if necessary. Be willing to listen to presentations, read books, and follow other leaders in the field on social media. If your mind is open and receptive to learning new things, you will be able to adapt to the ever-changing advances in the market.  

    Participating in a mentorship program is another meaningful way to continue learning in your career. If you are a new commercial real estate broker just starting out in your career, find a senior broker you can trust to be your mentor and established brokers should take the time to mentor those at the beginning stages of their careers. Mentorship is an important part of any career that benefits both mentors and mentees. 

    When it comes to being a great real estate broker, these tips can have a huge impact on your long-term success. Focus on your routines, your continued personal growth, and your overall wellness so that you can be on your way to greatness. 

    At LightBox, we are committed to enabling the success of real estate brokers. Contact us today to learn how we can help you.

    Category Commercial Real Estate