In commercial real estate you will be pitching your services to clients regularly. Sometimes you will be doing so competitively with other agents chasing the same listing. The fact of the matter is that you must be prepared for a top listing presentation.
You need to convert at least 50% of your presentations to listings. Top agents will get up to a conversion factor of about 75%, and ultimately that should be your goal. To do this you need to practice.
To win the listing you have to be the best choice of agent for the property and the market, and in doing so you should bring relevant skills and knowledge to the client. The whole point of this is that you must get the message to the client about all of these things so they can make an informed and correct decision. To do this you should have a presentation model and you should practice it at least twice a week. Over time the model can be shaped and then you can improve your conversions.
Try answering these questions as you consider your pitch model:
- Are you a real person that brings benefit and skills to the client? If so what?
- What is your point of difference in commercial real estate services and business that make you stand out as ‘better than the rest’?
- In what way are you a great marketer of properties for sale or lease? What do you know about property marketing beyond the generic stuff that most agents peddle? Why is your marketing better than the rest? Do you have proof for the client to see?
- How do you negotiate on listings, leases, and sales? Are your negotiation skills the best that they can be?
- What do you know about the local area that is of use to the clients as they market their property?
- What proof and evidence can you give your clients to show them of your experience in the market today with difficult property challenges?
- What stories do you have that you can tell the client about results and recent market trends?
- What is the size of your database today and is it relevant to the clients that you serve? Could you use that database as leverage to convert the listing?
Most of these things can be a challenge if you are new to the industry or the property market. The point is that you should work towards optimising them as you build market share. Practice will get you there a lot faster.
Commercial real estate today can be a challenge because the clients that we work with are typically under some pressure of rents, prices, tenant mix, and property performance. That being said, your success as a top agent is simply a matter of you adjusting your skills to the market conditions. Very soon you will see that you can put deals together; in all comes down to how many people you know and how you market yourself to the clients in the industry. Improve your personal marketing efforts and you will find that the industry opens up for you.