In commercial real estate brokerage, the use of prospecting letters will help boost your networking and new business efforts. New clients and listings can be generated by a good prospecting letter system. That being said, it is not just a matter of sending letters and hoping that results will occur; you need to develop a real logic to the process. You should also follow up the letters with a telephone call whenever possible.
Why would you send these letters? In most cases it is to achieve one if not all of the following:
- More Sellers as listing prospects
- More Landlords for leasing services
- Better enquiries from the market
- Buyers and tenants for your listings
- Establish your brand as an industry expert
Looking at these things very simply, it is essential that you design your prospecting letters in separate ways for the market that you want to tap into; understand the new business that you are looking to attract back to you. Write your letter accordingly.
Here are some rules to creating a marketing system of letters for commercial real estate brokerage:
- The letter process is a repeated system. In each period of 12 months the letters should be sent every 2 or 3 months. Each letter sent should have a separate message and theme.
- Understand the ‘pain factors’ that apply to the market today and reach into those issues as part of the letter layout and message. Establish your brokerage as the ‘solution’ for all the pain and discomfort that a landlord or property owner could be experiencing.
- Focus on listing stock. When you control the listings you control the market. Exclusive listings should be part of your proposal and presentation process.
- Any of your competitors listings will be a trigger for prospecting letters in the same location. Any other property owners looking to sell or lease may like to compete with the other property.
- Write ‘success letters’ for every sale or lease that you achieve. Send them into the immediate vicinity of the successful transaction.
- Follow up all letters with a telephone call whenever you can. The personal approach is really important to conversions.
- Purchase a good book on ‘copyrighting’ and ‘words or phrases that sell’. These simple books are invaluable when it comes to attracting the eye of the reader in your message.
- Your marketing letters should be simple and composed over 3 or 4 paragraphs on one page only. Enclose your business card with each letter. Make it easy for people to get back to you.
If you want more listings in commercial real estate brokerage today, this strategy of sending prospecting letters really does work beyond the all too convenient ‘email’ strategy used by many. Most agents only rely on emails for prospecting communication; in those situations the client or prospect will usually not even read the content. The ‘delete’ button is all too convenient.
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