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The sight of successful brokers raking in huge commissions by closing deals for massive buildings worth hundreds of billions of won in the commercial real estate market is something anyone would envy.
While it is an attractive world where one can build a massive business empire given the huge assets involved, just as a journey of a thousand miles begins with a single step, these individuals also had their own fierce beginner days. Examining the common survival rules hidden behind their dazzling achievements reveals that they find the answer in thorough on-the-ground engagement and realistic strategies rather than relying on luck.
Field 'farming' that involves leaving the office and walking tens of thousands of steps a day
Breaking away from the passive attitude of simply listing properties online and waiting for calls, the real weapon for closing deals is the effort of physically visiting the site and gathering information. Successful commercial real estate agents do not sit in their offices hoping for luck; instead, they walk tens of thousands of steps a day, scouring every corner of buildings as if they were farming. They visit each building in person to strike up a friendly conversation with site managers and property directors, quickly catching up on vivid on-site information such as which commercial spaces are vacant or which stores are experiencing issues. Only when the results of such intense legwork—walking 20,000 to 30,000 steps a day—and close-to-the-ground efforts accumulate can one finally secure differentiated properties and achieve tangible results.
Overcoming the Gap with a Two-Track Strategy of Leasing and Selling
Even seasoned commercial real estate brokers earning tens of millions of won per month did not establish themselves in the market by effortlessly closing deals for massive buildings worth billions or tens of billions of won right from the start. The core secret to success they unanimously advise is a two-track strategy that combines leasing and sales—which have relatively faster turnover rates—rather than focusing solely on heavy transactions. Commercial sales ranging from billions to hundreds of billions of won require market analysis and complex negotiation processes, so a single contract often takes anywhere from several months to over a year. To withstand the psychological pressure and maintain cash flow during this long downtime, smaller lease transactions serve as the most reliable safety net.
The Power of the Virtuous Cycle Created by Small Successes and Sharp Niche Areas
In a recession, when transactions tend to slow down, frequently accumulating small successes in practical work becomes the most powerful driving force for weathering the market. By consistently closing small-scale leases and contracts rather than fixating your attention solely on heavy, large deals, you can naturally regain your sense of market reading and confidence. In particular, building strong trust and bonds with clients during the process of light leasing serves as a stepping stone for a virtuous cycle that naturally leads to opportunities for the main contract of the asset later on, such as a sale or a "double sale" (simultaneous purchase and sale).
Furthermore, rather than blindly chasing every available property, the shortcut to a solid and successful settlement is to firmly secure niche properties in specific areas or establish your own "sharp niche," such as in knowledge industry centers or F&B commercial districts. Behind flashy large-scale contracts lies a balance achieved through realistic legwork and the steady accumulation of small lease transactions and solid trust.
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