Hi there, I am a new Commercial Agent. What have you found to be the best way to start finding clients? My "boss" is big into cold calling...first knocking on doors finding out who the decision maker is and then calling them repeatedly...some leads he has been calling 7 years! Granted he has been very successful but is there a better way?
I knocked on doors today, vertically called on some office buildings walked in offices, got the names of who might be in charge of leasing. Came back put them in my database to call.
Any thoughts...is this the most effective approach or is there a better way to maximize my time?

Movingon- I think your boss is onto something with the cold calling. I personally like getting face-to-face with people as much as possible, but you really need to be comfortable on the phone too. Some of the people I work with prefer the phone more, and from a shear numbers standpoint- the phone can be more productive. However, while you may be able to call 100 people on the phone in a day and only cold-call 50 on foot- the information you get is often very different. I've found that being out on the street may lead you to places that you wouldn't have thought of if you were searching online, through the phone book, etc. And often- the people who may not be interested may know someone who is, or something that is useful for you to know- which they will share in person but not over the phone with a stranger. So, in a nutshell- cold call and be good on foot and on the phone.

The bottom line, in your position, is that you want to get to know as many people as possible as quickly as possible. After a certain point, you can start making matches between buyers (or tenants) and properties. Making a match when you have 20 people you're working with is slow and hard, but when you have 1,000 people you are working with- those matches start firing off like you wouldn't believe.

The other piece of advice- find some vacant space and get some sings up!!! One sign won't do you much good, but 20 will. When you have 20 signs, the calls will start coming to you, and you will be in a better position to make the matches. Just make sure that you've spent a good amount of time learning your inventory so when you get a call on one piece that doesn't really fit the buyer's needs, you know what's out there that may be a good alternative.

Good luck, stick with it.

Thank you alwaysthe newbie. (love that name because after 20 years in one industry I feel like that right now)
Yes, since I come from a sales background I was always good on the phone and always felt I could cover more ground. But being out today knocking doors, also made me really get to know buildings. I will also focus on your vacant building sign plan.
Thank you for the encouragement!

The best way to start is to DEFINE what part of commercial re you are going to focus on leasing,sales,business brokerage,working with developers,retail,industrial,office,securities.

I could go on and on but th epoint I am making is commercial is vast and you need to find a niche and pursue it. In commercial clients aren't looking for people who know a little bit of everything. There looking for specialists who deal in the type of properties they are selling or investments they are buying.

You need to then run in these circles and network,network,network.

good luck

Thanks super. Yes I am focusing on office leasing at the present time and hitting all the offices in a few areas.

Does any one have any techniques that have been successful when cold calling?

Is cold calling the only choice? What about doing some online advertising? is that helpful too? have anyone tried that?

Movingon- Glad you like the name. I feel that many people on this board have been in the game much longer than I. What I have learned though- no matter how long you're in this, you always gotta keep learning.

Super has given great advice too- most successful brokers have a grasp of a specif area that they know more than anyone. Always be mindful of that fact, be looking for your niche. I know it is difficult when you are starting out, since you don't know what you don't know- but try to find it ASAP.

Apillove20- I think online advertising and such is OK. I have used different sites and had some moderate success. However, you have to have something to advertise in the first place, and how do you get it? Sometimes you just gotta walk in some doors or pick up a phone.

There are two goals for coldcalling:

Getting Tenants/Buyers &
Meeting Owners/Landlords

I approach each one differently. A tenant will often times provide you with followup information that their lease doesn't expire for 2 years. That info should go into your database for future followup. Be prepared to offer something of value to the person such as a comparable market summary of available properties.

A good line is, "I recently created a report of available properties in your area and thought you might want to know what the current market is offering in rent rates/pricing." People are typically interested in what everyone else is paying.

Landlords are looking for someone hungry and responsive and you have to present yourself as such. The key thing a newer guy can do is express how much time and effort he or she can dedicate to the active marketing of a property. You would be surprised how difficult the "experienced" brokers are to get ahold of!

A great thing to do is prepare another comparables list of current offerings to provide to the landlord. Your opening line could be, "I noticed that you have some vacant space. I have a summary of other currently available listings. Would you like to discuss the market sometime?"

The key thing with both of these is to know what you are talking about and know where to get any additional information that they will request.

Earl, Great advice Thank you!