With Memorial Day Weekend, we are approaching the historically three slowest months in commercial real estate deal velocity. I get it. School is beginning to wrap up; vacations are being anticipated; and the weather is crying for a cookout.
The good news is that June is generally the most active of the summer months. Clients are attempting to close out opportunities before their own vacation plans hit. June provides you with an opportunity to set yourself up for a strong summer.
Here are the 5 keys to avoiding the CRE summer swoon:
1) Hold your semi-annual review with your coach, mentor, team or partner before the end of June.
Once July hits, focus starts to wane and those essential corrections to your business may not be applied until September. So much for a “mid-year” correction.
2) Confirm your key clients and prospects vacation plans now.
This will allow you to expedite or adjust necessary steps to keep transactions moving forward.
3) Confirm your clients’ objectives for September
Ask your clients to define their expectations while they are vacationing. “I understand you are going to be out July 15 to July 31, with limited availability, as such I want to confirm your expectations upon your return”. It seems like a simple question, but this will allow you to deliver services as expected.
4) Ensure your clients understand your own vacation plans.
Even if they are 30 days or more away, make sure your clients know your vacation plans. Nothing worse than your client being surprised and, worse, disappointed to learn of your personal plans, if they are perceived to conflict with their needs.
5) Set your own personal development goal for September
How will you improve during the next 90 days? Will it be an online course, reading a new book(s), learning your CRM, etc.? Market leaders are consistently improving and make it a point to always get better.
These next three months are a great opportunity to review, reflect and re-focus on your plan for the year. Most CRE professionals will simply get some sun, and fun and come back to a mountain of challenges. The top producers will make the most of the summer, both socially and professionally. The choice is yours.