CORFAC News

As we work through these unprecedented times, commercial real estate professionals are looking for ways to keep their deals and businesses going. With the help of one of their clients, the team at Joel and Granot Real Estate/CORFAC International came up with a list of ways to use this slower time to improve your operational processes and be ready when business resumes. Here's our list of 10 ways to increase your productivity: 

1. Update and clean up your database. Use this time to add more information into your CRM on contacts in your existing database.

2. Look back on your deal files. Go back 5-10 years and look for names not only of the principals, but others involved with those companies. Research where they are now. Profile their company in CoStar and reconnect via direct communication and LinkedIn.

3. Profile your existing clients. Do a deep dive into both the company and team members, including: 
o   Associations they are members of;
o   Top suppliers and consultants; 
o   Who their targets and/or clients are;
o   Top competitors; 
o   Review their website, social media platforms and annual report;
o   Landlord brokers - profile existing tenants portfolio-wide, cross-check all of the existing tenants with CoStar and see if they have a location in another market to produce a warm call target list;  
o   Tenant reps - create a CoStar report for each of your clients to see if they have space in other markets and create a marketing cross-selling information piece; and
o   Set up an existing client business-to-business network.
 
4. Target new clients. Pick a number to target. Maybe 60 and do 2 profiles a day. Do a deep dive into both the company and the target decision makers:
o   Associations that they are members of;
o   Top suppliers and consultants; 
o   Who their targets and/go-to clients are; 
o   Top competitors; and  
o   Review their website, social media platforms, annual report and CoStar. 
 
5. Keep in touch! Create several simple positive communication pieces (not about the virus) that you can send to your current database. 
 
6. Update your skill sets. Think about what skills you need to improve to help your career and sales skills. There are many new web-based tools designed to enhance your business. Research what is new in the marketplace. 
 
7. Create and/or update your social media plan. Update all of your platforms (seems there are new ones to engage with every day). Update your bio/profile and consider getting a new headshot.

8. Do some research: 
o   Find industries for the next commercial real estate opportunities;
o   Review telecommuting and understand this sector and how to counter sell it to your clients so they keep tenants in office space; 
o   Find experts that can assist your clients with financial information they need to make a difference going forward; and  
o   Look at possible associations to join in key sectors that you sell your services to.
 
9. Schedule meetings now. Start a new calendar for late summer/early fall and start scheduling meetings.
 
10. Create a new marketing plan for the balance of 2020 and 2021. Most likely for the first time in your career your marketing plan can be detailed and thorough as opposed to just going through the motions for your boss. Do it for yourself!

-- By 2020 CORFAC President Alan Joel, CCIM, of Joel and Granot Real Estate/CORFAC International in Atlanta, GA.