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How to respond when you don't win business in commercial real estate

Turn losses into valuable lessons that will increase your future win rate.

What should you do when you get a call after a pitch and the prospect says, "I'm sorry, but we've decided to go with a competitor"?

Sometimes, when confronted with this news, we're inclined to tell ourselves: "You can't win them all”, and just move on to the next thing.

And in some ways, that’s true.

You can't win them all.

And emotionally, I think it is good to move on.

The market is big with plenty of opportunities.

If you're prospecting on a consistent, persistent, and proactive basis, then you know that there are plenty more opportunities around the corner.

That being said, when you don’t win work, there is also an opportunity just to stop and reflect on what didn’t go to plan.

We can diagnose our own contribution to the result, address some things with our team, and ensure we debrief with the prospect.

Episode 64 of CRE Success: The Podcast is all about taking the opportunity to learn some lessons from the loss.

Because it's not a complete loss if we take a lesson from it!

 

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