Top Sales Presentations in Commercial Real Estate

two commercial real estate agents talking in car
Create a top sales presentation in commercial real esate agency.

Many agents today struggle to provide a relevant and interesting sales presentation.  Generic presentations seem to be the order of the day, and in most cases the client will be meeting with four or five agents before they make a decision.  You simply cannot do a generic sales presentation.  Your pitch or presentation has to be interesting, relevant, and useful.  It must relate to the current property market and the subject property.

Here are some tips to help you focus your sales or listing presentation:

  1. The first stage of the presentation should always be to connect with the client and restate their need or interest when it comes to the particular property matter.  The client needs to see that you are on the same wavelength and fully understand their current situation.
  2. Next, you should summarise the attributes of the property as you see them.  Explain the factors of the property that are critical to the potential promotional campaign and marketing process.  Some of those features will be fed into the advertising and media material to attract the target audience.
  3. Given the previous point, explain to the client the target audience of prospects as you see it and then relate to the current levels of enquiry from that group of prospects.  The client needs to understand exactly what enquiry is out there and how it is coming to you at the moment.  Have due regard for the time on market factors for the property type and the prevailing market conditions.  Tell the client exactly how you will be attracting those prospects to the property.
  4. Given all of the three points, you can now move into a summary of current and prevailing market conditions.  Tell the client where the competing properties are currently located, and how they are being marketed.  Give the client a summary of the time on market factors as they apply to those other properties still on the market.
  5. Give the client some clear solutions relating to marketing.  Vendor paid marketing should be the norm and not the exception when it comes to listing.  Give the client three alternatives when it comes to vendor paid marketing and marketing costs.  Invariably they will usually choose the middle solution.
  6. The firm and resolute when it comes to the type of listing and the method of marketing.  Exclusive listings are required to help you attract the necessary enquiry over the marketing period.  All of your listing sales pitch should be geared to the dedicated focus and action generated from an exclusive listing.
  7. In most listing situations, you can give the client a summation of price or rental as it applies to the listing process.  Current market evidence and existing other properties will support your logic and recommendations.

As you move through all of the five stages, you can ask questions of the client to see how they relate to the information you are providing.  Always make your presentation or pitch a two way conversation.  Keep the client with you through the presentation logic and property recommendations.

Lastly it should be said that the typical property presentation should not go for an excessive period of time.  In most cases the presentation should be completed within 20 minutes.  If the client shows further interest or raises a extra questions, then the time can be extended to 30 minutes.

Keep to the point, and provide the right information for the client to make key decisions.  Top salespeople do less than 40 per cent of the talking when it comes to a sales pitch or presentation.  They get the client involved at all stages of the process.  At the end of the presentation ask for a commitment.  Most agents are afraid to ask for the listing.

Consistency Produces Results in Commercial Real Estate Agents Commissions

mans hand over building picture
Start your day in commercial real estate with real drive and focus.

When it comes to your career in commercial real estate today, consistency is a key component to help you to progress in the industry.  Without consistency, chaos is usually the result.  Poor performance then follows as well as lower income or commissions.

Given that most salespeople work on some form of commission reward system, results will always be high on the agenda when it comes to personal performance.  Every day contributes towards the future.

Here are some of the biggest hurdles that we find with salespeople in the industry:

  • Lack of focus on prospecting
  • The listings that are poorly served
  • A database that is not up to date
  • Client connection and communication systems that are random at best
  • Generic marketing systems that produce little momentum towards enquiry

These issues should not occur.  If we are to achieve more momentum in the industry, then results are really important to us and the agency we work for.  This then says that we should be very consistent in what we do every day.

Systems can take us forward in generating new business, serving the clients that we act for, and dominating the local commercial real estate market.  Systems are a personal thing.

Here are some ideas to help you with consistency and building the correct momentum in commercial real estate today.

  1. Start the day early with a planning process to connect to the right people that can help you move your business or listings forward.  This will usually mean a prospecting process.  In commercial real estate today, it is really easy to make prospecting calls the first thing every morning.  Systemised action is the only thing that makes any difference in our industry.  Everything else is pure luck.  Luck is not a good thing when you work on commission; directed control will get you a lot further and faster.
  2. After you have completed your daily prospecting process, connect with all your clients to update them on recent marketing activities and property enquiry.  Clients with exclusive listings should receive a priority in all communications and follow-up.
  3. Develop your skills so that you can convert more listings to your exclusive control.  Open listings in our industry are really a waste of time, over which you have no control.  Exclusive listings allow you to focus your marketing efforts, and control the enquiry that comes towards you.  In this way you have a much better chance of converting the business.  If you are finding it difficult to convert exclusive listings, then you probably need some skill upgrade, and the only way you can do that is through practice.  Find some good books on pitching and presenting, and learn the best ways to go about it relative to your area and property type.
  4. Are you the best commercial real estate agent locally?  Hopefully you have answered yes.  Develop some real reasons and points of difference for your uniqueness in the local property market.  Why should people use you?  How can you provide the best service over quality listings?  Develop some real answers that can help you drive your market share and listing conversions.  Generic answers are a waste of time.  Far too many agents use generic and bland statements relating to experience, time in the industry, and agency profile.  Develop your answers that are far more significant than these generic statements.

It is not hard to see how you can improve your commercial real estate career and listing conversions.  It all comes down to your personal systems and focus.  Start taking some real action.

Commercial Real Estate Agents – Tips for Finding New Salespeople

man standing on grass with hands outstretched
Look for commercial real estate salespeople that have a real drive to succeed and a professional approach to the business.

When you run a commercial real estate business, it is always hard to find the right people to help you build your business.  Most new salespeople will claim to have the necessary drive and commitment to do what is required, but in the majority of cases, they will not have the factors that produce great success in the industry in all markets.

When the property market is at the top of the cycle, just about any salesperson can make commissions simply by going to the office and sitting at their desk.  It is the more ordinary markets where listings are hard to move and enquiry is difficult to generate where the top agents stand out as being the best in the local area.

Here are some strategies to help you with choosing the right salespeople, and running your commercial real estate business.

  1. Always be on the lookout for good people.  That can include other agents in other real estate offices.  The right people should be able to show sales results and discipline when it comes to the commercial property market.
  2. The industry is largely based around relationships and networking.  This then says that every top agent will usually have a significant group of clients and contacts to work with.  Good agents will always have a database of several hundred clients or prospects that they work with.  The accuracy and the up to date nature of that database will be important.
  3. Divide the sales territory into precincts and property types.  Some salespeople will be working a defined geographical area, whilst others will be working a specific property type in which they specialise.  Such is the case when it comes to retail property given the specific and the unique nature of the property and the people involved.
  4. When employing future salespeople, it pays to undertake a psychological assessment of their sales skills.  Top salespeople are quite unique when it comes to business style and performance.  They also require special types of management and leadership.  That being said, a salesperson is employed to generate commissions and listings.  Have each potential new salesperson for your business or agency checked out thoroughly at a skill and mindset level, before you employ them.  Make sure they have the necessary character traits that a salesperson requires in this industry.
  5. When it comes to employing new sales people in the industry, two factors stand out as critical to ongoing performance.  The first factor is market share, and the second factor is conversions.  For this very reason, it is essential that you monitor the market share of each salesperson relative to their location or property speciality.  When you can see that the market share is consolidating and growing for a team member, the next factor to watch and observe will be the conversions of listings to completed transactions. It is one thing to list a property, and it is another to convert the transaction.  Some salespeople list very well, but cannot sell or lease at a satisfactory level.

We need more top agents, or people that can reach that level of the industry.  Can any salesperson reach the top of their industry in their location?  The answer is absolutely and yes.  The right people will learn and adapt their skills to improve and grow in the industry.

Retail Leasing Tips for Commercial and Retail Leasing Agents

man in fruit shop
Choose your tenants well to help your retail property thrive and grow sales.

In retail leasing, you really do need to know your territory and tenants.  The retail business segment is under some pressure at the moment in many respects.  The internet has changed the way shoppers buy goods, and the spending patterns of people have changed due to the global economy.

When times are tougher in retail shopping and trading, it is the ‘convenience’ type tenants that still do quite well.  Convenience tenants are usually food and consumable related (baker, fruit and veg, butcher, chicken, and fast food).

To help your shopping centre trade and thrive in tougher retail times, you need to closely look at your tenant mix and the clustering of tenants.  Everything has to be done to encourage more trade for tenants and between tenants.  Tenants should be selected on the basis of relevance to your local shopper and their needs.

As a retail leasing expert you can get close to the retailers and the business community.  This will help you find the right tenants and the successful traders.

Here are some ideas to help you build a matrix of retail leads and opportunities in retail shop leasing.

  1. Franchise groups are a proven business model.  Some of them will suit your property and shopping centre.  Talk to the franchise groups to understand what it is that they need in a property to consider occupation and leasing.  Find out what their business model is and the standard lease terms and conditions that they require.  Some franchise groups may also not be located in your area and may be looking to enter the region.  Make some telephone calls and ask the questions of the right people.
  2. Business owners in the local area know so much about the local businesses and the community.  Approach the business owners and the wholesalers or manufacturers of retail goods and services.  Through that contact they may give you some leads for talking to successful retailers.
  3. Existing properties in your local region will contain successful tenants and businesses.  Check out those properties and talk directly to the tenants.  Some of those tenants will be quite successful even in a slower retail cycle.
  4. Shopping Centres and Shopping Centre Managers will offer lots of retail leasing leads and needs.  Shopping Centre Managers will have leasing needs in their properties from time to time.  Their tenant mix will change and the property may expand or undergo redevelopment.  Either way, retail leasing activities will follow in some form or another.  Most shopping centres have a business plan and a tenant retention plan, in addition to standard lease strategies and lease marketing efforts.  Get to know your shopping centre managers for the leasing needs that will arise.

Landlord owners of retail properties and retail shopping centres need experts in leasing to help them.  This is where specialisation in retail leasing is so important.  You can fill that requirement with some specialised industry knowledge and leads.

How to Build Your Commercial Real Estate Market Today

Commercial Real Estate Agent giving Ok handsign
Develop the right systems to take your commercial property market forward with real momentum as a Commercial Real Estate Agent.

When you work in commercial real estate agency, it is important that you have a prospecting model to support your momentum and market share.  This is a personal process, and has little to do with the agency that you work for.  The agency may provide you with some profile, but they would not normally produce the required levels of listing business that you require to be successful or gain the mantle as a top agent.

Here are some tips to help your commercial real estate activities in growing market share and listing activity.

  1. Determine the geographic area in which you can locate listings.  The geographic area should be split into two zones.  The primary zone is where you will get the majority of your listings, and the secondary zone is where you will get other listings.  All of your prospecting effort should be focused into the primary zone.  Anything that comes to you from the secondary zone is pure luck and a bonus.
  2. When you focus your marketing efforts into a specific zone, the area should have sufficient property types and property numbers to allow you to convert regular business over time.  As part of the process, look at the history of the area to ascertain the commissions and listings that have been transacted over the last few years.
  3. Within the primary prospecting zone, look at the business community and its current business sentiment.  What are the factors of change?  What are the things that are changing through their business community?  What can you do to attract property enquiry in your direction?
  4. Research the number of competing agents in your primary prospecting zone.  Who are the agents that are more successful than others, and why is that so?  Is there sufficient room for you to be competing with these other agents?  What will be the points of difference to differentiate you from these other established agencies?

In commercial real estate today, the general property market may be somewhat slower and tougher, however the opportunities still exist for those agents that can systemise their approach and drive some real momentum.

When you look at your average business day, there really are only two or three things that are quite important.  Those things should feature in your diary on a regular daily basis.

In almost all situations, prospecting will be number one on your list.  When that occurs each and every day, you will drive better market share and you will create more listings.  Over time that will help you become the top agent in the local area.  Action is more important than words in our industry, so set the rules to your business, and take consistent action.

Getting Some Goal Leverage in Commercial Real Estate Agency Today

hi rise office building
Set some significant goals to build your commercial real estate career today. Move to the top of your market faster with a plan.

When it comes to winning business in commercial real estate agency, you cannot do so easily without having a reasonable plan and process to support you.  As part of that activity, you will need goals.  Goals are like the points of the compass that take you forward into the industry and will help you track yourself towards being a top agent.

It is notable that many agents and salespeople formulate goals relative to their property type and career from time to time.  Rarely will they stick to the plan; in most cases, the plan will be relegated to the bottom of the filing cabinet after it is created.

If you’re going to create a list of goals and a plan to achieve them, you really do need to stick to the process and keep the momentum heading in the right direction.

Established goals and targets should be reviewed on a weekly basis.  That will then allow you to adjust your processes and focus.  The commercial and retail property market changes throughout the year and on that basis your goals and targets will need to be adjusted.

There is no point getting to the end of the year and making a new year’s resolution with fresh goals and targets relating to your career and commercial real estate.  If you cannot stick to the goal process today, there is no point in doing it in the future.  That being said, there is massive opportunity in the industry for those that can get organized and focused.

The top agents of the industry work to a plan and that is why they are successful.  They understand what is required of them on a daily basis to consistently control property enquiry and attract the right listings.  It is all a matter of focus and the correct action.

Any goals we make in commercial and retail property are impacted by the following changes in the market:

  1. Listing opportunities in the local area
  2. The competitive agents that we must work against
  3. The amount of enquiry coming into your office from marketing
  4. Your local office business identity of your agency and office
  5. The supply and demand for property in the local area given the existing property and any future new developments planned
  6. The conversion rates that you achieve from sales pitches and presentations
  7. The stability of the local business community and the factors of property change that are resulting from that business community
  8. Your personal prospecting processes that are consistently implemented on a regular daily basis
  9. The size of your database and the accuracy of the information contained within it
  10. The regional and global economy as it relates to property ownership and investment.
  11. The availability of funds to allow businesses and property investors to purchase and or occupy commercial property.
  12. The amount of tenant enquiry coming to agencies in your local area.

There is absolutely no way that you can predict these factors 12 months in advance.  That is why the goals and targets process must be continually shaped and adjusted throughout the year.

Small adjustments to your plan that are regularly undertaken, will allow you to adjust your systems and daily prospecting systems.  The real way to achieve success in this industry is through prospecting on a daily basis, and supporting the prospecting process with personal professional skills and comprehensive industry knowledge.

If you really want to move ahead in the industry as quickly as possible, setting significant goals and formulating a plan should occur right now, today.

Tenant Retention Plans and Strategies in Retail Real Estate Today

woman with shopping bag
Tenant retention plans will help you grow your retail tenant mix in the correct way.

Tenant retention today has become an important strategy in property performance, particularly with retail shopping centres and retail investment properties.  Every commercial and retail leasing agent should provide a comprehensive and detailed tenant retention strategy to those property owners that need the service, or own the larger properties.

A good retention plan will give you as the retail leasing specialist opportunities for future leasing, renewal negotiations, tenancy relocations, and property changes.  All of that means better commissions.

A leasing expert in this market is of high value to any landlord with a high quality retail property.  This leasing churn produces fee opportunity and market intelligence.  Most property owners and landlords will not have the tools or the market intelligence to design their own tenant retention strategy in this regard.

So a good tenant plan will have particular factors to help property performance, and strengthen the tenant profile for the landlord.  Ultimately this will encourage rental income and lower the vacancy factors.

Here are some factors to help you establish the retention plan in properties and listings of suitable size and complexity.

  1. Get to know the existing tenants within the property.  This will normally involve meeting with those tenants to talk about customer activity, customer trade, and property requirements.  In most circumstances, the tenants within a retail property can give you significant and valuable feedback to help your plan creation and consolidation.
  2. Get professional surveys undertaken of shoppers using the property on various days of the week.  In medium to larger shopping centres, it is quite common for the survey to occur on a quarterly basis.  The survey would normally take two weeks to implement so that you cover the necessary variables in daily shopping.  The results of the survey will tell you what customers are looking for and what they think about the property today.
  3. Visit the local council or planning approvals office to understand the activity of other property developments coming into the market soon.  Obviously you should look for new property developments that could destabilise the balance of supply and demand when it comes to tenancy leasing.
  4. Review other properties in the local area to understand their factors of vacancy, market rental, and customer base.  You can also selectively talk to some of their tenants to get feedback regards shopping trends and property performance.  Obviously it should be said that this approach should be suitably confidential and sensitively handled.  Many other property managers and property owners may feel threatened if you make this process too public or obvious.  Simple questions asked in a creative way as you purchase a newspaper or an ice cream can give you some good tenant feedback to work with.
  5. Given your existing retail property, determine the tenants that are more attractive and less attractive to the future of the asset.  The attractive tenants will feature in the retention plan differently and more intensely.  Some of the less attractive tenants will disappear from the plan when you can find better ones.
  6. If you have an anchor tenant or perhaps a few anchor tenants in your retail property, it pays to talk with them regards property trends and sales.  They will give you valuable feedback from their perspective as a major retailer.  Most leases with anchor tenants go for many years.  Make sure that the tenant is locked in for the longer term and that they are well integrated into the overall tenancy mix activity.

So these are some of the foundational factors that will help you move towards a good tenant retention plan.  Over time you can consolidate our real strategy across the entire tenancy mix.