The 4 Needs of Every New to the Business Broker

On March 18 at 2pm EST, Rod Santomassimo and I are hosting a free webinar – How to Thrive as a New to the Business Broker. We will be covering in more depth the content of this post. You can register below!

I remember the first day I started in commercial real estate.  I got out of the Marine Corps the day before.  All of the sudden, I’m wearing civilian clothes and standing in a blank office.  There was a phone and a laptop on my desk and little else.  If I’m being honest, I didn’t have a clue what to do.

The 4 Things Every New To The Business

I spent the next two years trying to figure it out.  I shadowed my dad constantly.  I noticed how he handled situations – what he said to clients and prospects.  I was soaking it all in.  I battled the nagging thought in my mind that said, “Why would anyone want to work with you when they could work with your dad.”

I lacked confidence.  I lacked a framework.  I lacked understanding about what were the most important things.  I didn’t know what I didn’t know.

Commercial real estate is not easy.  Most new to the business (N2B) brokers don’t make it past their first year.  I was fortunate that I had a dad who wouldn’t let me fail.  Everyone doesn’t have that.  This is why Rod Santomassimo, founder and president of the Massimo Group, and I are hosting a free webinar later this week on How to Thrive as a New to the Business Broker.

We believe any N2B broker can thrive if they focus on 4 critical needs.

4 Needs of Every N2B Broker

  1. Pipeline – A broker’s pipeline is the bloodline for his/her business.  In fact, a 10-year study showed that the amount of time between a broker’s first and second deal accurately predicted the long-term success of their career.  A N2B broker needs deal flow in a full and vibrant pipeline.
  2. Prospecting – Prospecting is how you fill up your pipeline.  I spoke with a N2B broker last week who said his shop gave him a phone and a book of property owners.  His directive was to start calling.  Is that the best way to prospect?  How do you learn and apply the best prospecting practices of top-producing brokers?
  3. Production – Prospecting is one thing, but what do you do when you start to win some business?  How do you get that exclusive to the finish line so you can actually get paid?  In many industries, you gain a client when the prospect buys something.  There is an added step in real estate.  You have to find the business, then win the business, and then fulfill the business.  Then you get paid.
  4. Planning – How should a N2B broker spend his/her time?  Should it be on research?  20 hours a week prospecting?  Networking? Oh that someone would have given me a blueprint at the start of my career that could have accelerated my success.

These are the 4 pillars of thriving as an N2B broker.  And these are the 4 pillars Rod and I are going to cover in this week’s free webinar.

Register for this Free Webinar

There are 2 groups of people who should attend this webinar.  The first is, obviously, the N2B broker.  The second is the broker/owner who hires and trains the N2B broker.  We are going to give you actionable intelligence that can be instantly applied to your business.

Below is a short video of Rod and I discussing what we are going to cover in the webinar.  We also interview Adolphus Miner (current) and Sherief Gouda (graduate) about the impact of these 4 pillars on their businesses.

This free webinar is happening on Wednesday, March 18th, at 2pm Eastern.  Seats are limited, and the last one we did in January was full, so grab your seat now!

Register for this Free Webinar

Please note: I reserve the right to delete comments that are offensive or off-topic.

  • I thought the webinar I listened to was incredible. I found that the topic was really pointed at commercial real estate, but truly applies to any sales professional who needs discipline and structure. I never realized until I listened to this webinar how much there was to being a successful sales professional, no matter what your business model!

    • So true Linda – any broker or salesperson can learn from this – especially me!

  • To become a best business broker is more difficult. They are to act as a buffer between the buyer & the seller and help clients to take the right decision about their business. I want to say that these blog guidelines are very beneficial for New to the Business Broker and here they can learn how to handle a client.