THE WORST TIME TO PROSPECT IN COMMERCIAL REAL ESTATE
If you haven’t listened to Warren Greshes, I would highly recommend you do. Warren is an international sales and motivational speaker who recently sent me a sample of his presentation he gave while overseas earlier this year. In the presentation Warren helps you understand why many feel that December is the worse time to sell dresses in the garment industry (Warren’s original vocation). You see in December, no one is buying as they are focusing on the holidays and in January all dresses are being marked down.
Fortunately Warren also shared with his audience that the summer months were a bad time to sell, as everyone is focusing on vacations and of course, Mondays are a bad time to call because everyone is focusing on the new week. Oh, yeah Friday’s are bad too because prospects are focusing on the weekend. Warren did identify a certain Wednesday afternoon in May that was probably the ideal time to prospect. Thank you Warren! I have that afternoon marked on my calendar for 2010, and I can’t wait to start calling!
The clarity in Warren’s sarcasm is blinding. It amazes me how so many commercial real estate brokers approach these final weeks of December, as if no deals are going to happen. It’s not about closing a deal before the year end, but about educating your prospects in regards to opportunities ahead. The only time I find the brokerage velocity slower is during the month of August when it seems everyone is on vacation. However, when you look at the deal velocity in September through November, it is obvious that someone was working in August and laying the seeds for earning greater commissions.
The vocation of commercial real estate is obviously not decided on a Wednesday afternoon in May. The opportunities are out there for the taking. It is up to you to educate your prospects and share with them why you are the ideal advisor to trust in today’s market place.
I wish everyone the safest and happiest of holidays. Just don’t celebrate for an entire month.
