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Commercial Real Estate Brokers – Tips to Help Your Clients Make Wise Property Decisions

Throughout the year the commercial real estate market will change and fluctuate with prices, rents, and levels of enquiry.  The clients that you act for may not understand the true pressures of the property market and the changes that are underway.

It is your job to help your clients make wise property decisions taking into account the key performance indicators relevant to their property listing.  Some clients will take more convincing than others.

So What is the Property Market Doing?

Market evidence will be a key component of any property or listing presentation to a client or prospective client.  The active sales and leasing transactions through the region will show trends when it comes to prices, rents, incentives, time on market, rates of inquiry and marketing.  There will also be achieved and identifiable differences between high quality listings, and average or lower quality properties.  Differentiate the changes in the property market so that you can show the client where their property sits in comparison to others.

Key Performance Indicators in the Commercial Property Market

Here are some essential key performance indicators and factors to consider that will help you in conditioning your clients thinking and decision processes:

  1. The rates of inquiry – Throughout every calendar year there will be plenty of changes occurring in the level of inquiry coming to you or into your office across sales and leasing. The buyers and the tenants that you are working with will have certain demands when it comes to property choice and location.  They will also have predetermined ideas when it comes to price and rental rates.  On that basis you can see the importance of tracking the levels of inquiry applying to each listing type and location.  Understand what the buyers and the tenants are looking for when it comes to commercial property today.
  2. Higher quality listings – Some properties will be very desirable and achieve greater levels of inquiry, inspections, and negotiations or offers. Understand why one property would be more desirable than another.  The same comparison applies to precincts and locations locally.  When you list a high quality property, the inquiries will fly in to you from the very start of the campaign.  Some local property precincts will be highly desirable from a buyer or tenant perspective, and you will need to determine the differences between those precincts in both price and rent.  When you list a property that could be regarded as high quality, it is necessary that you carefully consider the marketing process and the best method of sale or lease as the case may be.  In the end result the marketing of a high quality property will always provide you with plenty of qualified leads and contacts for future opportunity.  That is where the use of your database will become a key factor of support in any property marketing campaign.
  3. The best method of sale or lease – Choose the correct method of sale or lease that will attract the best levels of inquiry. Adjust your listing pitch or presentation accordingly.  The choice that you make here can also impact the marketing strategy that you structure for the campaign.  Understand the differences between specific property marketing and generic marketing; match those differences to be target market relative to the listing.  The generic marketing process only applies to open listings, and any result that you achieve with an open listing is a process of luck more than anything else.  Help the client understand the direct strategies that you will deploy when it comes to their property listed exclusively.  The marketing process for any property today is not an experiment and should not be regarded the way by the client.  Help them make the right choices when it comes to the correct method of sale or lease and the associated marketing campaign.  Always seek vendor paid marketing funds as part of the property promotion process on exclusive basis.

These items are perhaps the three most important factors of commercial property performance and marketing for your location.  With each and every listing presentation that you make to a client or a prospective client, be prepared to explain the important facts of the location and listing today relating to the current levels of enquiry.

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Commercial Property Agents – Use Checklists to Develop Your Sales Pitch and Presentation

In commercial real estate you need a top sales pitch to help you convert more business than the competing agents that you are up against.  In many respects you will only have 30 minutes with the client to convince them that you are the best agent solution to take their property to the market.

So many agents just ‘wing it’ when it comes to the sales presentation.  If you want to win more business the best thing you can do is create a great presentational model that is built on a ‘checklist’ approach.  Over time this will help you stay on focus and allow you to refine your approach when you find extra things that will work for you.  Soon the whole process of pitching and presenting will be so efficient and focused you will be winning more business of the quality that you require.

Your property market is something that you should know very well.  This knowledge and relevance has to get to the client in the presentation.  It can help you convert the business in a powerful way.  They need a local agent and that can be you.

Here are some ideas to help you build a presentational process and checklist that can really work well.

  1. Engage the client with relevant questions at the start.  To do this you should have comprehensively inspected the property and the general area.  In this way you can talk to the things that are important in the marketing campaign.
  2. Competing properties will impact your marketing campaign.  Show the client where those properties are and tell them of the pressures those properties present to the subject property.
  3. Every client will have issues and concerns.  You have to find them and the only way to do that is through questions.  Each question you ask should be taken to the next level when you sense that the client has some facts of relevance.
  4. Give facts about the market based on real evidence.  Those facts are likely to influence price, rent, marketing, methods of sale, and methods of lease.
  5. Tell the client where you see the campaign heading and why.  Clients like to see that we have a solid set of solutions and not just a generic approach to helping them.  Be very specific to the property.
  6. As a general rule, always seek vendor paid marketing and exclusive listings at all times.  These two facts will help you build market share and that is what you need to make your career strong and successful.
  7. Do not be afraid to walk away from a listing.  If the client is unrealistic or centred on facts that cannot work, do not waste your time in helping them. Let some other agent struggle with the difficult client.

Simple facts like these can help your presentational model and sales pitch greatly.  As the base of your presentation improves, you can modify the checklist approach so that you are moving to the next level of listing conversions.  Top agents do this all the time.