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.
In commercial real estate agency you will find that you will constantly be up against many agents in the presentation and pitch process. The question is can you present and pitch your services for a listing at a better level or in a better way than your competitors? Can you show why you are the better agent for the job?
Sure, things are competitive in our industry but with a little self-development you can expand your strengths and make them even stronger for any sales pitch you make on a listing. When you know that you are a ‘top agent’ and that you have all the relevant skills that a client or the property requires, then you can convert more listings. Confidence will get you ‘across the line’ when it comes to your pitching and presenting.
Here are some tips to help you with your presentation and client connection processes today. See how these things match your current skills and approach to attracting more listings.
- Know what you are good at when it comes to selling, leasing, or managing commercial property. Build that relevance into your presentation with stories that attract the attention from the client. Most clients like to know that they are not the only ones struggling with sales and leasing challenges. Show them the solutions as you see them. Give them the ideas of just how they can fast track the marketing and results process given the prevailing market conditions. Put yourself into the property marketing and promotional process; if the client then wants to get the results as you see them, they will need you to do that. Top agents sell themselves very well.
- Find out what people are looking for in solving their current property challenge. Ask them questions about what they have done to date in marketing the property in case you are taking on something that has been taken to the market unsuccessfully before.
- Review the skills of the competition so you understand what the competitors will be saying in their presentation to the client. How can you be better than the others that the client may be meeting?
- Start practicing on your good skills so they get even better. Every day when you first arise, read a business or sales related book aloud for some 20 minutes or so; it helps you with verbal flexibility and confidence that is just so important in our industry. Just about everything that you do and negotiate on in property sales and leasing will hinge on your ability to communicate. The words that you use and the way you deliver them will be strengthened by this voice practice process.
Are you ready to win new commercial real estate clients and listings? Now is the time to build on your strengths as part of starting that process.
What is the value that you bring as an agent to a client in commercial property today? It is an interesting question for a client to ask when it comes to an agent selling, leasing, or managing commercial real estate.
Most agents would say one or more of the following:
- We know what we are doing
- We have good people
- We understand the property market
- We have done some great deals recently
- We sold (or leased) other properties like this recently
- We know how to market the property
The sad fact of the matter is that when they have said these things, they go no further. They do not back up their claims with detailed proof.
If you say anything to a client about your relevance or skill as a local commercial real estate agent, be prepared to expand on the issue and talk about it comprehensively and directly. Show the client some proof of why your statement is so important to their property position or need.
Here are a couple of ideas to use when it comes to showing the client that you really are the right agent for the job of marketing the property:
- Use a Gantt chart that shows the steps that you will be taking in marketing the property and converting the result that they need. Have different Gantt charts for the process when it comes to sales, leasing, and property management (commercial or retail).
- Define the target market in such a way that you are clear on exactly how you will connect with the right people and help them understand the property market.
When you pitch or present to a client, don’t discount your services and lower your marketing fees for the sake of attracting the client’s attention. Offer real and relevant marketing solutions that are so good that the client cannot ignore you. Sign them up on an exclusive listing.
In commercial real estate agency, your sales pitch and presentation should be of the highest quality. It should be practiced regularly on different property types and in different property situations so you can attract the right listings to your agency.
Here are some facts to remember:
- Quality property listings will attract a greater level of direct enquiry from the market, and therefore you will have more inspections to work with.
- Average listings take a lot longer to move due to the lack of enquiry or poor interest from the market.
Given these facts, your presentation has to attract and convert the best listings. That’s how top agents get the results from the market; they focus on listing quality before anything else. Even if a quality listing is overpriced, it will still attract greater enquiry and that will give you something to work with for the client.
Most of the listings and clients that you target will be chased by other agents locally. Rarely will you have the opportunity to pitch for a listing entirely on your own. Your sales pitch needs to be well planned and staged. Here are some ideas to help you do that:
- First impressions are really important. Take pride in how you dress, appear and carry yourself when meeting a commercial real estate client or prospect for the first time. It takes about 1 minute for a person to assess you visually and form an opinion on your relevance. The commercial real estate industry is one of professionalism and on that basis a ‘business image’ is required.
- Be aware of the age and experience level of the people that you are connecting or working with; they may be far more experienced in business than you are. They may have expectations that are high and demanding.
- The client expects you to be skilful in the issues that they want resolved. On that basis you should have a ‘professional selling attitude’ that they appreciate and know will help with their property challenge. Confidence should show in what you say and do.
- Practice your dialogue and speech so you are ready to show confidence in every client or prospect situation. If this is difficult for you now, make ‘role playing’ a part of your weekly sales meeting. Create a quality in what you say and how you do it. Let the client see that you can handle any property negotiation or debate professionally. Master the right words for the right situation.
- Ask the right questions in any contact situation. It helps if you have a checklist relative to your property type and marketing situation.
- Show that you have a real knowledge of the property situation and task ahead for the client. Give them some confidence that you are indeed the ‘real deal’ when it comes to moving through their property challenge.
Your presentation or sales pitch in commercial real estate will get a lot easier when you follow these simple and yet effective rules.
In commercial real estate agency, you will come across many people every day with various interests in commercial and retail property. Some may have an interest in selling, buying, or leasing. This then says that we need to be versatile when it comes to dialogue and communication. In a short period of time you need to impress the other person with significance as an agent.
To help you here, you can develop a very simple 2 minutes sales pitch. In many respects, you only have a short period of time to connect with the required people and convey a clear message of how you can help them. Confidence and relevance needs to be shown as part of that connection.
As a general rule, this short 2 minute connection should tell the client or the prospect what you do and how that will benefit them. Remember the old saying, ‘What’s in it for me?’ You should try to answer that as part of connecting with new people.
It is not sufficient to say:
- I lease commercial real estate.
- I market and sell commercial real estate.
- I manage shopping centres.
All of these things do little to show that you really are a relevant property specialist. You could take these phrases and improve them as follows:
- I lease commercial real estate locally for landlords that require quality tenants. I do that by staying in close contact with the most active and sizeable tenants in the region.
- I market and sell commercial real estate for property investors. I do that by tracking all the recent property deals and upcoming opportunity both off market and on market.
- I manage shopping centres locally for major property investors. I do that by optimising tenant mix and rental returns.
You can take simple statements like these and turn them into something that works for you. Tell and show a prospect how you are real and relevant. Give them a reason to work with you or at least listen to you.
This simple process helps you in a number of ways:
- It makes you stand out as someone that is a specialist in the local property market.
- It can be an icebreaker in a new contact with a prospect.
- It helps them see what they can get from you if all other property issues are aligned.
- It helps you win listings.
Communication in our industry is a large part of finding the right people and moving them to a meeting of some type. Meetings then can open the door on listings or sourcing properties. The simple ‘two minute sales pitch’ helps you attract the prospects attention in a relevant way.