There are differences to consider in a sales pitch for a lease listing in commercial or retail real estate. You are working with elements of rent, vacancy factors, supply and demand, property types, and certain target markets of tenants. Landlords need a bit of help in knowing how you see the ‘attraction factors’ that apply to their property. Tell a story about their property and how you will move on the leasing requirement; demand exclusivity for your intense focus and time commitment.
Before going too much further here, it should be said that the leasing part of our business is very lucrative as you can connect with plenty of local landlords and that can lead to sales appointments over time. Be prepared to work with lease listings and convert them; go ‘deeper’ and make direct calls to local or targeted tenants.
Quality is important in working with lease vacancies and the different properties. That is a rule to ‘live by’ in brokerage. Choose the properties that are likely to create tenant interest. Know what motivates a tenant to look at or take up a property. That knowledge can be gained and used as you talk to plenty of local businesses.
Listing Facts for Presentations
Take every potential lease listing and do a ‘SWOT’ analysis before you engage with the landlord client. You are then prepared to ‘pitch’ for the listing. Here are some things for you to talk about with the landlord as the client for you:
- Levels of enquiry – show the landlord what is happening with the inbound enquiry and list the questions by a group as to what tenants are looking for. Will the landlord’s property satisfy that list of questions?
- Property types – put the client’s property firmly in a property grouping for the zone. At that point, you can then tell the client what they are up against with other listings and lease offerings.
- Location preferences – explain how different tenants look for location advantages such as roads, transport points (ports and airports), location to end users or markets, and other local businesses. Some locations are more attractive than others when it comes to those elements.
- Target marketing – shortlist a few tenant types that will be valuable in the target marketing process. Your promotional strategies can then be direct and deliberate as you spread the word about the property. Tell the client how you will do that.
- Local area comparisons and coverage – list the competing properties in the precinct, and then take some photos, get the property facts in each case, and look at the strengths and weaknesses of each property. The competitive position for the listing is then something that you can talk about with the client and make some clear recommendations.
In saying all these things, simplicity is important in what you say, do, show in the listing process or pitch. Help the client see and hear how you can move things ahead with a direct focus on results. That is the best way to pitch for a commercial real estate lease listing. Be different, real, and relevant to the property and the client.