Here's a massive opportunity for you when you're looking at your sphere of influence. If you've got a list of people in your sphere that own businesses or are entrepreneurs with locations, we’re in a unique position with the commercial market right now. In many areas, the commercial market is really struggling.

The script for reaching out to these business owners in your sphere of influence is straightforward. Start by asking, “Do you rent or own your current location?”

Most will be renters, some will be owners.

If they say they are renters, you can respond with this:

“If you'd like to own, this is one of the best times in the last 10 years to buy commercial property. There are several factors at play:

• Vacancies are high
• Rents are declining
• Rental prices and commercial real estate prices are stable, with some areas seeing decreases

There’s a real opportunity to get a bargain in today’s market.”

Or if they already own their property, ask,...

How many referrals did you get last week?

If you received none or just one, you might be wondering, "How can I get more?"

Well, here's the secret: To get more referrals, you need to start by sending more referrals. It all begins with the concept of giving. When you give generously, the power of reciprocity comes into play, and you'll start receiving more referrals.

As REALTORS, we often act as real estate concierges, with a network of contacts at our fingertips. When clients ask for recommendations, it's common to say, "You should use my friend John for that. Let me send you his number." However, this might not be the most effective approach.

Instead, consider this value-added strategy to increase your referral potential. Say, "I have an excellent gardener who does exceptional work and offers my clients special deals. Would you mind if I give him a call and have him contact you, so he knows the referral comes from me?"...

Let's consider your office location: If you were to drop a pin on the map around your office, extending 2 to 5 miles, have you connected with local business owners in that area?

Many business owners are facing challenges due to economic changes and other factors. It's an excellent opportunity to reach out to them and establish a connection.

Here's a simple approach: initiate a business card exchange. Walk into a nearby business and introduce yourself. Mention your office's proximity and express your interest in referring people who are new to the area. You can say, "I often meet people relocating here, and I prefer to refer local businesses. Would you mind exchanging business cards?" Allow them to share information about their business.

You can further enhance the connection by saying, "I like to highlight a local business on my social media each week. Would it be okay if I featured your business next week and tagged...

How can every business owner that you know model McDonald's for building wealth? Well, you might not know this, or maybe you do, but McDonald's makes a lot of money selling hamburgers, but they make more money owning real estate.

Did you know that of the 36,000 McDonald's locations around the world, they own 70% of those locations and the franchisees are paying them rent?

See, they figured out a long time ago that the money is in real estate.

So when you're talking to your business owners that are in your database, friends of yours, family members, people that are your in sphere of influence that own a business, ask them this key question:

"Hey, have you ever thought about buying a piece of real estate and putting your business in that? Or maybe buying the building that you're in? Because one of the best wealth building strategies for retirement eventually for your exit strategy is to sell your business and then rent the building...