Your credibility as a commercial real estate agent or broker will be a big factor in how you convert local listings and client opportunities.
Our industry is one that is supported by personal contact and personal trust. Your credibility sits solidly within that definition.
Think about these questions.
- So how can you prove your credibility in a regular and ongoing way?
- How can you attract the interest of clients through a credibility equation or business strategy?
The answers are relatively simple.
Put yourself at the center of your marketing campaigns locally.
Here are some ideas to help you:
- Drill down into the existing property market so that you understand comprehensively the pressures of change and churn as they may apply. There will be certain problems that most business owners or property owners are struggling with; identify those issues. You can be the solution to those problems. For every problem, there will be one or two solutions that you can apply to a quality listing or a quality client. Importantly you should look for solutions and provide definite recommendations. Good agents do exactly that.
- There is no point in pitching and presenting your commercial real estate services without allowing the client to consider the variations of the prevailing market conditions and then helping them with specific alternative recommendations. Most clients like to have two or three alternatives to consider as part of property marketing, listing, negotiating, and settling. Make their decision activities easier. Build all of your recommendations for a client based on real market evidence, the facts of the property, and the pressures of the existing parties.
- Always provide a few alternatives to a situation and then make your recommendations. Clients feel more comfortable in moving ahead when they have some choices that they can move through. Yes, the client may want a higher price than that which the market is providing, so you are the person to professionally help the client through those facts. And so what if they don’t listen? Walk away from the listing, and let some other agent or broker waste their time on the property and the client.
- There will always be a clear and better way to close on a deal. You simply need to understand all of the facts as they exist and read between the lines. Understand the pressures that each party is working within and provide suitable solutions to motivate their interest. Learn more about the skill of negotiation and be prepared to show that you are the ‘top negotiator’.
- The marketing approach for any exclusive listing today should not be generic. Put some personal effort into the marketing campaign showing your client how you will create more interest and attract more inspections. You will find that such a strategy will help you close more exclusive listings over time. Put personal effort into your prospecting focus and talk to more people every day.
- Incorporate your database into your listing pitch and marketing strategy. Explain to the client how you will be using your accurate and up to date database in helping them; that database can be used throughout their property campaign and sale or lease requirement. Tell them how you will be identifying a shortlist of buyers or tenants (as the case may) be from that database. Show them an edited version of that shortlist as part of the listing presentation. It will be hard for a client to ignore a list of potential prospects to lease or buy.
- Do not ignore the inspection process. Tell a client exactly how you will be taking people through the property so that the features of the asset can help you encourage or close on an offer or negotiation. In some cases, it is wise to take the client to the property and walk them through the inspection strategy deliberately and directly.
The top agents in the commercial real estate industry today know how to build their credibility and focus, to attract more clients and quality listings.
Get the equation right
These points mentioned above, should help you with the credibility equation and the conversion of new business.
You are a big part of your business success. Understand how you need to market your skills deliberately and directly to the right people in the right way.