In commercial real estate agency, the presentation or sales pitch will be critical to your listing conversions. In most of the presentations we do today are highly competitive. Three or four agents will be chasing the same listing and on that basis will be seeking to influence the client through incentives and enticements. You must have a strategy of relevance for the client to listen to you.
This then says that your sales pitch or presentation has to be of the highest quality when it comes to selling or leasing commercial property. In this property market, there is no point in being ordinary when it comes to presenting your services to the client.
Everything in your proposal and presentation should be of the highest quality and focus on the outcomes the client seeks. It is of interest to note that many agents will pitch for the listing without understanding the full factors of the client and the property. Complacency like this will lose the listing.
Here are some other ideas that you can apply to your presentation strategy.
- Seek to understand the client first before you design your package of recommendations. Your client will have certain requirements as to price, rental, timing, and confidentiality. All of these factors can be identified through a comprehensive meeting with the client when preparing for the presentation.
- Arrange to meet the client on site so you can both go through the property together. This gives you a significant opportunity to ask questions about the history of the property, how the client came to acquire the property, and how they see the property today. In a minor way, this is the start of your presentation. You can show the client how relevant you are to the type of property and the local area. You can also show your experience as it applies to the challenge that the client faces.
- Client expectations should be identified. That will include the trends of the current market and where the client sees their property moving and at what price or rental. If the client has inflated expectations, you will need market evidence to help them understand the prevailing market conditions. Facts and figures, together with photographs will help with this process. Carry a selection of comparative properties in your marketing folder for this very purpose.
- After the initial meeting with the client on site, ask for a period of 24 hours where you can prepare the final proposal and investigate the fuller market conditions. This then means that you will have another meeting with the client as part of a formal presentation. At that meeting you will be completely prepared with all the strategies and evidence that you require. If possible, have the presentation in your office boardroom. This allows you to control the environment and the distractions that could apply during your presentation.
- The marketing processes that we apply to property listings today are quite unique and special. The days of generic marketing are well gone. Provide a marketing campaign to the client and their property that comprehensively taps into the defined target market. Explain to the client how you will reach the potential buyers or tenants that are required to get the best price or rental. Put yourself personally into the marketing equation so the client knows what you will do to promote the property individually in addition to any broad based marketing approach. That being said, you should expect an exclusive listing for the hard work that you are going to provide.
- Choose the best method of sale or lease that applies to the property type and the client. The choice should be influenced by the competing properties in the same location. Don’t repeat the mistakes of other property owners and other agents with listings that have been on the market for a long time. Tell the client exactly why you are making your recommendations today.
- One of the most significant tools that you can use in a sales pitch or presentation is that of a relevant story. The client likes to hear about other situations and circumstances that have been successfully handled; they will remember your stories more than your recommendations. Choose your best stories that illustrate the road ahead for the client. In some cases they will base their decisions on the relevant stories and experiences that you can share.
- Summarize to the client the four or five factors that will drive enquiry to the listing. Those factors should be aligned to the target market and also be prominent in the marketing material. Show the client some examples of quality advertising and marketing strategies that will be applied to the listing. Give them some choices regards marketing costs and marketing solutions.
- Seek an exclusive listing with vendor paid marketing funds. In this market, it is the only way to promote a property comprehensively and correctly. There are no short cuts when it comes to spreading the message regards a good property.
It is possible that you can add to this list. Importantly every presentation that you prepare for should be optimized for the client and the property. In this way you will be the relevant agent of choice to solve the client’s property discomfort.
You can get more tips for commercial real estate agents in our Newsletter.
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