Essential Product Knowledge Requirements in Commercial Real Estate Brokerage

It is one thing to say that you are the best local property agent; it is another to prove it.   There are far too many ‘ordinary’ agents out there, and clients can easily get confused as they try and solve their property challenge.

The clients in the property market today want the best agent or broker for the job, and that person has to commit to the listing and marketing processes.  It’s not ‘rocket science’, if you know what I mean?

Ordinary agents take far too many ‘open listings’; top agents on the other hand convert ‘exclusive listings’ most of the time and then get a sale or a lease result.

Top Agents are Different

Top agents are special to the clients that they serve, and they get to that point of local area achievement through just two things; relevance and coverage.  When they prove that to the client, they generally win the listing.

Listing conversion today is not about providing commission discounts, and free marketing.  At the top of the property issue the client wants a result in a timely way, and most quality clients understand that discounts do not create the best results.

Provide the Bare Facts

Our industry is not an ‘experiment in marketing’; it is a skillful and deep specialized process.  Are you up to the challenge?  Can you sell yourself to the client as the ‘best agent for the job’?

Let’s be specific here.  Show the client that you are the right person to help them today by answering these questions in the listing or presentation pitch:

1. How to find the right buyers for the listing?
2. How to find the right tenants for the property?
3. How to market a listing comprehensively?
4. How to get the best price?
5. How to get the best rent?
6. What are the other listings on the market?
7. Who is looking for a property now or soon?
8. What is the best time to sell or lease?
9. When should the listing be activated on the market?
10. Who is on the ‘short list’ to be shown the property immediately?

These are very special questions.  They take deliberate study and dialogue with the client as part of the listing presentation.  You cannot ‘fudge’ a listing conversion with this information.

Take the time to address these questions in your next listing presentation. Go deeper into the topic and the property challenge for the client.  That’s what top agents do most of the time.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)