In commercial real estate brokerage today, every property and every listing can present unique challenges when it comes to the listing presentation. In every case you will need to understand the property market, the client, and the listing so that you can match your recommendations to the clients required outcomes in selling or leasing the property.
A persuasive presentation is one that addresses the concerns of the client in a proactive and relevant way. To achieve that, here are some recommendations that you can adopt or merge into your commercial real estate sales pitch strategy:
- Determine whether the property and the client are correctly matched to the levels of inquiry coming into your brokerage today for that property type. Is the property so unique that it will have limited inbound inquiry? If that is the case, you will need to choose the right method of sale or lease for the best possible outcome. The duration of the exclusive listing will also need to be extended to support the special and diverse marketing process. It is not unusual for unique properties to be on the market for many months and in some cases over 12 months. To devote the right focus to that type of listing, exclusivity is required in such cases.
- Prepare and structure your proposal following a complete and comprehensive review of the property and the market place. As part of that, understand the competing properties, the prices and rentals currently being achieved, and the levels of inbound enquiry.
- Present your recommendations to the client based on their needs in price, rental, timing, and outcome.
- Review the property for any weaknesses that will need to be addressed prior to the commencement of the marketing campaign. In the case of investment properties, make sure that any weaknesses in the tenancy mix or existing lease documentation are addressed prior to commencement of the promotions.
- Check out the cash flow from an investment property with due regard for passing income, expenditure management, outgoings, and net income. If the property is to be resold back into the investment market, the checks and balances need to be correct when it comes to investment performance.
- Property performance will need to be supported by proof and evidence. You will need to ensure that all the elements of property activity, performance, and structure are available for scrutiny and due diligence.
- Talk to the customer at their level of understanding. Lead them through the recommendations required for a property of that type in today’s market conditions. Give reasons for your recommendations and evidence from the local market.
It is not hard to win a listing in today’s market providing you are correctly matching your listing and marketing recommendations to the property, the client, and the local area. Local market knowledge and professional skill will help you complete and convert more commercial real estate listings over time.