In commercial real estate today, the top agents in the market have quite specific strategies when it comes to presenting and pitching their services. In many respects they will have had some years to prepare their strategy and develop their approach across many property situations. The proposal that most top agents present is usually of a comprehensive nature that addresses all the needs of the client and the property directly and effectively.
Preparation is the key to a top sales pitch and proposal strategy. Bringing all the facts together into a brief period of time and connection with the client is what it is really all about. I go back to the fact that preparation is the key. You need to know the market, the competition, the property, and the client. Your solutions provided in the proposal should be uniquely considered so they are better than anything that your competitors could provide.
Here are some ideas to help you build a successful property proposal to present to your client:
- As part of an initial preparation to do the proposal, meet with the client on site so that you can walk through the building together and discuss the factors that relate to both the property and the surrounding market today. At the same time you can question the client about the history of the property, the reasons for their actions today, and the expectations of the sale or the lease as the case may be.
- The client will have certain knowledge and experience as it relates to the property type locally. They may have little or no knowledge of the local area when it comes to competing properties. Understand all of these facts before you proceed further.
- If the property is of a complex nature, involve other specialists from your agency to help package the proposal and the recommendations correctly. It may be that a complete investigation is required of the leases, tenancy mix, income base, and outgoings. All of these things can have significant impact on the marketing and inspection process that you will need to undertake.
- Check out the surrounding area with regard to successful transactions. Look for the direct comparisons to the listing in question. Structure your marketing, pricing, and inspections strategy based on the experiences and results from other properties in the local area.
- Every property listing will have particular strengths and weaknesses. The strengths will always help you determine the target market and should also feature in the marketing campaign. The weaknesses may be a hindrance to the overall marketing effort and particularly inspections as they occur. Some weaknesses may need to be addressed prior to the commencement of the marketing campaign. Structure your recommendations to the client accordingly. Some clients think that the property promotional process is quite the case of ‘test and measure’. Given that the property market is today quite slow to react and selective, all of your efforts need to encourage results. On that basis the marketing process is not an experiment. The client needs to understand that fact. You have only one chance to create the best results and it is the first four weeks of the campaign that is the most important.
Your proposal strategies in commercial real estate will evolve into a process that you are comfortable with and know that can be reasonably successful. Learn from the other agents in your location and refine your processes for the best results.
You can get more ideas like this in our Newsletter right here.
Commercial Real Estate Online 