If you’re looking to win more commercial real estate listings and particularly those that you can convert to successful contracts and leases, have a serious look at your listing presentation and the points of difference that you promote as part of the presentation. Why are you special? Why are you better than the other agents? In simple terms you need to stand out as the top agent for the job.
Are you average or generic?
Far too many agents and brokers approach the listing process generically with little preparation and no strategy. A client then has little to choose from when it comes to better ideas and looking for a positive outcome. What can you do that is different and relevant to the property promotion?
A listing presentation is not all about providing discounted commissions and seeking low marketing funds. Discounts don’t attract results. The client has to spend money to make money, be it as part of a sale or a lease transaction. Your job in the property presentation is to help them see why that is important.
What does the client want?
The client wants results and the listing presentation you make should be designed to convey all of the correct facts in the right way. Help the client see exactly how you will connect with the right property people in the market in a timely way; those who will have a potential interest in the listing and occupancy or investment.
Here are some ideas to help your property presentation and listing pitch with the client, and to help them with interest and involvement:
- Split the campaign into time frames – A property promotion should be staged so that responses can be tracked and adjustments can be made. The stages are best set to the immediate property release (2 weeks), the inspection and negotiation stage (4 weeks), and the repositioning phase (4 weeks). You only need to move into the repositioning phase if the property has not created sufficient enquiry or inspections.
- Explain exactly who the buyers or tenants for the property will be – Clearly set out who the buyers and tenants for the property listing will be, and then tell the client exactly how you will reach directly into those segments of people or businesses.
- Show what competing listings are doing locally now – Use photographs to show the client the other local listings that are on the market now and explain what has been happening with enquiry in each case. How will your clients listing stand out around those other listings? What can you do in the property promotion that is special?
- Show specific tasks critical to the momentum – You are the property specialist and on that basis you should have some good ideas as to how you will make the listing stand out locally. Put yourself into the campaign with specific tasks and property market investigations. What can you do in the campaign that will create plenty of enquiries? Split those important tasks into your request for an exclusive listing. Put those tasks onto a time line for the client to understand what you will do, when it will be done, and why that is so.
- Get the client involved – There are things that the client can do as part of the property marketing campaign; get them involved. They could for example give you a summary of property history and ownership that would be of interest to the local community of investors or business owners. Interesting information will help your marketing campaign and your inspections.
These 5 simple strategies will help your listing presentation stand out as comprehensive and relevant to the property market today.
In commercial real estate brokerage the listing presentation is likely to be the best and only opportunity you will have to impress the client with your professional real estate services. Most listing presentations today are highly competitive involving a number of agents.
Any high quality property is likely to be offered to the market only after the client has completed a series of competitive agency presentations. It directly follows that every agent or broker should be well skilled in explaining the listing strategy and marketing process that they can bring to the listing.
The marketing package presented to the client should be creative and competitive first and foremost. Whilst all of this may seem logical, many agents struggle with creativity and direct marketing; they thereby do not stand out as the ‘agent of choice’.
In a competitive listing situation the client needs to understand which agent offers the best marketing solutions, and just how they will attract the target market. How does your presentation rank in comparison to other agents?
To improve your chances as an agent in winning the listing, here are valuable some tips to help the process.
- Meet the client at the property so that you can review on site issues and identify the strengths and weaknesses of the property. The strengths can be merged into the campaign and the weaknesses can be dealt with as the case may be.
- Show the client how you will move prospective buyers or tenants through the property and explain the strategy of the process. This simple strategy shows the client that you really understand how to feature the property.
- If the property is of some quality, establish a display board within the premises where photographs and marketing material can be placed to refer to as part of the inspection process. The area in which the board is placed should be well lit and strategic for featuring the best parts of the property.
- If the property is large, arrange for a portfolio of professionally taken photographs to be used in any property discussion or on site presentation. You can also carry the photographs in your laptop or smart phone for ease of access.
- Show the client how you will use your marketing material to feature and help the inspection process. You should have some samples of brochures and flyers from other successful campaigns to explain the opportunity.
- Put together some local business information to help a prospective buyer or tenant see the benefit of locating in the area. Statistics on business growth, business types, transport and local infrastructure will be of use.
So the message here is precise. If you want to win a property listing, make sure that you are fully prepared for the presentation to be made to the client. Make your message clear and unique; stand out as the agent of choice to show how you can reach the target market of buyers or tenants. Prove that you have done so in other similar situations. Confidence and local property market information will help you do that.
The commercial real estate market can be very competitive at the best of times. Many agents and brokers will be chasing the same listing and attempting to influence the client towards their marketing solution and property package. For this reason you may only have one chance to attract new business and the client to your brokerage. Your sales pitch or presentation needs to be of the highest quality.
So here are five effective ways to improve the client connection and potentially win the listing. Compare these strategies to what you are doing currently. Small improvements can bring big results.
- Clients today know when they are talking to a top agent that dominates the market segment or the location. Every presentation or sales pitch should be designed around those facts. If you miss out on a listing, it can largely be due to the fact that you have not sufficiently convinced the client of your relevance for the property and their marketing situation. A client or a prospective client will not turn their back on the recommendations of a top agent. It really doesn’t matter what relationships exist between the client and your competitors. If you specifically sell your marketing package at a high level, the relevance and the recommendations are hard for the client to avoid or overlook.
- When you present to the client, be totally absorbed in the strategies recommended and the requirements of the client. Every sales or leasing situation can be quite unique. Drill down into the facts of price and rent as the case may be. If you provide any recommendation around the price or the rental, show clear market evidence to support those facts. Also comment regards the best way forward for the client given the current market conditions.
- Show the client exactly what you will be doing to help them with their property challenge. Also show them the stages required to move ahead. You can do that through a simple Gantt chart that itemizes the marketing preparation, marketing campaign, inspection strategy, and negotiation approach. The visual approach of a Gantt chart will help you significantly with any sales pitch or presentation for the listing.
- When any of your competitors put a signboard on a property in your local area, canvass the surrounding property owners and business proprietors. It has been proven many times over that some nearby property investors and business owners are likely to compete when it comes to dealing with their property challenges. You can be the agent or broker to help them with the process of competing; you can list their property. The momentum gained from the nearby competitors listing will give you leverage in packaging your property listing. You can adjust your methods of sale or lease accordingly, together with the necessary pricing package to attract better levels of enquiry.
- Put yourself into the promotion of any exclusive listing. Any exclusive listing should be secured for a reasonable period of time together with vendor paid marketing. As part of that process, you can then commit to the marketing effort by canvassing local business owners and property investors. It directly follows that any quality property listing will give you many reasons to talk to others.
The commercial real estate brokerage process doesn’t need to be hard or difficult. It does however need to be simplified and direct. Get involved with your clients and your property listings so that you can attract more enquiries and create more inspections. Over time those two factors will help you build market share and potentially dominate your market.