How to Make Your Sales Pitch in Commercial Real Estate More Engaging

In commercial real estate brokerage, your sales pitch can always be improved through practice and skill development.  The information that you gather locally and have compiled over time relating to the local property market will always be valuable and interesting to the clients and prospects that you work with. Recognize the value of your information, and use it comprehensively in every listing pitch and presentation. (NB – you can get plenty of sales and listing pitch ideas in commercial real estate as part of our ‘Snapshot’ program right here – its free)

 

You can talk about recent levels of enquiry, trends in prices or rentals, the best methods of marketing, and feedback from recent inspections.  You can display your information graphically, as statistics in the form of the chart, and also pictorially.  Recognise the different ways to engage your client in the listing presentation with valuable local property market information.

 

In this audio by John Highman, you can learn some of the very specific ways to improve your sales pitch and presentation with a new client when it comes to listing their property in today’s market.  You can listen to the audio below, where you can download it as required.

 

A Few Powerful Secrets in Commercial Real Estate Leasing

In commercial real estate brokerage leasing, you need plenty of tenants to fill the vacancies that you will work with and will identify. At least half of your database should be filled with business based tenants and their leasing requirements.  (NB – you can get our free Commercial Real Estate Course here)

 

Given that your brokerage zone will be a section or a segment of the city, in a logical and direct way connect with all the tenants in the zone. Understand what the tenants are thinking and doing when it comes to property occupancy and change.

 

Relevance of Database and Location

 

As a special note, the size and the relevance of your leasing database as it applies to the location and the property types will be a major point of leverage in winning new business.

 

When it comes to attracting landlords and property owners to your services, you will need some form of differential.

 

To achieve that ‘difference’, consider the following questions:

 

  1. How big is your database currently and how relevant is it to the location? The businesses within the list should be locally based and or regionally connected. Split that database list into major corporations and smaller businesses.
  2. Where are the good quality buildings in your town or city? Review the tenancy mix in each case. Understand exactly who is occupying the major properties locally and for what reason. When you know the top tenants, the better buildings, and the top corporations for the area, you can hone your prospecting efforts accordingly. You can drill down into the businesses that have the capability to grow and relocate as company profits allow. You will also understand the buildings that are best suited for some companies and corporations from a branding profile and operational perspective.
  3. Have you been keeping your database list and its contents up-to-date? The data within the database will be important in several different ways. At the top of that assessment will be accuracy and timeliness of the information you have gathered. Spend time each day connecting with the people within the list to see how business pressures and changes are impacting their occupancy decisions.
  4. Have you been connecting with new people in a regular and ongoing way? You will always need fresh contacts and connections to grow your real estate business and the leasing opportunities available. You will need high quality clients and particularly the local companies and corporations to work with from a leasing perspective.
  5. What are people thinking about property now?  Understand exactly what they are thinking from a business and occupancy perspective. Look for the triggers and the pressures that influence those tenants and those companies to move. Through regular and ongoing contact, you can be there to assist them at the right time and in the right way.

 

 

So, there are some good things that you can look into and improve as part of providing professional leasing services to the local businesses and corporations.

 

Talk to plenty of people on a regular daily basis and refresh your database list with new information and upcoming property requirements.

 

The relationships that you build and encourage over time with carefully selected local companies and business leaders will help you strengthen and consolidate your leasing profile and professional leasing services.

 

How to Know Exactly Where You Stand in Commercial Real Estate Brokerage

As you work through your career as a broker or an agent, take the time to understand where you are positioned professionally and competitively in your town or region taking into account the levels of broker and agent competition.  (NB – you can get our free commercial real estate broker course right here)

 

When you fully appreciate your market position, you can take steps to improve your conversions, commissions, and results.  You can do different and special things with marketing, negotiating, prospecting, and client services.

 

In the property market today, it is best if you take the time and make the effort to stand out as an industry professional.

 

Top agents of the market understand exactly where they are professionally in today’s market terms; by professionally I mean listings, market share, commissions, and client service. They also understand exactly what they are going to do to improve their market position over time.

 

Here are some ideas to help you establish some performance indicators and professional targets for commercial real estate clients, as a broker or an agent. You can very likely add to the list based on your property specialty and location:

 

  1. Signboards – do a signboard count on a monthly basis so that you can understand and relate to the numbers of signs that you have in the market by comparison to the other agents and competitors around you. Local area presence and signboard activity will always help you attract more inquiries and activities from your exclusive listings. Your signboards are a marketing process to refine and optimize.
  2. Listings by type – compare the numbers of listings that you have in your territory by way of open versus exclusivity. Your exclusive listings are the only ones that really matter when it comes to market share. At least 75% of your property presentations should convert to exclusivity. Open listings are generally a waste of time although the strategy can be a last resort if necessary with a difficult client or a unique property.
  3. Database – review your database on a monthly basis so that you can understand the levels of improvement and the growth of activity with meetings, calls, conversions, and inquiries. You cannot easily delegate the data base process to others within your business. Ultimately the database supports your commercial real estate activities into the future and that client list will be a critical component of your growth of market share. If you are struggling with commissions, listings, or clients, then it is very likely that your database is lacking in some respect. Take the time to understand that client list now and your prospecting activities to grow the database.
  4. Internet – on a weekly basis, review the new listings coming onto the market across all the Internet portals. Compare your online listing numbers to those of your competitors. Understand the positioning and the ranking of your listings within your targeted suburbs and locations. To boost your business, you will really need to take the time to bolster your online profile and the exclusive listings that you have placed on the portals. There are various strategies that you can use online such as search engine optimization, social media, and article marketing. They are all very effective when it comes to establishing and growing a personal marketing profile for any broker or agent.
  5. Commissions – look at your commissions and conversions as they exist today in both sales and leasing activity. Break the commissions down to a transaction level so that you can see the size and the types of property that you are working on per transaction. This simple strategy will allow you to assess preferred listing types and listing sizes. Focus on the listings that the market requires and where the enquiry may be centred at the moment.

 

A successful career in commercial real estate brokerage will usually be centred on predictable trends and activities.

When a broker or an agent understands where things are changing in the property market, they can direct all of their efforts into the appropriate business activities and predictable listing challenges. That is how the industry works.

 

 

How to Set Clear and Correct Priorities in Commercial Property Sales

When you work in commercial property sales you will soon know the pressures of the day, the listings that you work with, your clients, and the prevailing property market.  There are lots of things that can distract or divert you into many different activities.  That diversion can lead to a loss of listing opportunity and ultimately commissions.

(NB – You can get our free commercial real estate tips and ideas right here)

In investment sales your main focus should always be on:

  • Prospecting for new business
  • Database management
  • Clients currently served
  • Listings on your books now
  • Marketing activities
  • Taking inquiries
  • Inspections of listings
  • Negotiations of property offers
  • Documentation of listings, sales, and contracts
  • Commissions
  • Followup of transactions

You could add other items to this list given your location and client base.  The fact of the matter is that you will always be busy in commercial real estate brokerage.  There are plenty of things to do.  Systems and factors of focus will help you get through the working day and the week.  Always track your progress in what you are doing, so you can see where improvements are required.

In this audio program, John Highman talks about setting the right priorities in your real estate business and how that will help you with sales and listing results.

Get Permanent Results with the Commercial Real Estate Brokerage Fundamentals

In commercial real estate brokerage, you can do plenty of things to grow your market share and your client list. That being said, you can also do far too many things and lose focus.

It is always best to remain diligent and persistent at a personal level to a few special processes that can drive your business forward.  (NB – you can get our free commercial real estate course here)

 

Simple is Good

 

Keep your business and your efforts simple and direct; that’s the secret to getting anywhere in the industry.  Action is very powerful if it is deliberately directed into the things that really matter; they are usually clients, properties, marketing, inspections, and negotiations.  Nothing else has priority in our industry.

 

So what are the things that really matter in the industry, and what are the fundamentals to take you forward? Put yourself into your property business and market yourself accordingly.

Each and every working day, connect with new people, qualify them for the location and their interest in property, and then stay connected for the longer term.  Put yourself into the property market; the relationships that you build are really important in so many different ways.

 

Use the Marketing Tools Available

 

Use the different tools of communication that you have available both online and off-line so that you can grow a profile of professionalism and market coverage. Most agents and brokers take an ordinary approach to communication today; you can do better than that. Use the marketing tools that are available at your fingertips and within your brokerage.

 

You are the point of difference that can drive more real estate opportunity over time. There are plenty of other agents and brokers in the location all chasing the same properties and clients. Your relevance and professionalism will be the factors of importance to take you forward as a top agent or broker.

 

Be Different but Relevant

 

Build some points of difference into your professional services, so that you can stand out as the agent of choice for the location. The clients that we serve understand the value of a highly skilled agent or broker with deep and meaningful market coverage. Clients will usually choose their agent or broker on that basis.

 

Here are some ideas to help you build your business from the essential and required fundamentals:

 

  1. Database growth – at a personal level, you should be building your database each and every day. You cannot and should not delegate the process. Talk to new and fresh people as part of your prospecting model, and then into the detail into your database records. Build your business on local area information and personal contact.
  2. Local area marketing – become a specialist for the location and market every exclusive listing comprehensively on that basis. When you have some listings to work with, you have plenty of reasons to talk to other people in a meaningful way. Use your listings to open the doors of opportunity and communication across the local area.
  3. Connecting with people – there are always plenty of people to connect with locally across the different industry segments. Deliberately research and communicate with business owners, investors, tenants, and property developers. The process of research takes time and effort, so you will need a segment of your day devoted to the required research.
  4. Understanding the property market – look at the factors of change in your area with a focus on listings, prices, and rentals. Understand the future supply and demand for the location, and also track the levels of inquiry for the area.
  5. Refining your professional skills – certain skills are more important than others in commercial real estate today. Put some real effort into marketing, presentation skills, and listing skills, so that you can move most of your listings to negotiation and closure. Every broker and agent should be practicing their skills in a regular and ongoing way. The industry is competitive, and yet the rewards are many. Position yourself for the best properties and the best clients through constant and ongoing practice.
  6. Building your relevance for the location – the clients that you serve understand the value of a top agent who understands the area and the property types. Build your relevance for the location so that you understand the streets, the buildings, and the levels of recent inquiry. When you understand what is happening locally, you can convert your listings more successfully and directly. Exclusivity is also a lot easier when you understand your location in a comprehensive way.
  7. Marketing properties – the properties that we list today can be promoted comprehensively both online and off-line. Look at the tools available to you when it comes to marketing, and then match those tools into the best methods of sale or lease as the case may be.

 

A successful transaction will usually be the end result of a carefully constructed marketing campaign directed at a target audience. That strategy requires effort and money. Always seek vendor paid marketing funds as part of your listing processes.

 

So the message here is that you cannot and should not complicate your real estate business as a broker or an agent. Simplify your prospecting and client contact processes. Market yourself deeply into a location as the industry specialist that the people are looking for.

Lead Generation Techniques in Commercial Real Estate Brokerage

Lead generation in commercial real estate remains a special process for brokers and agents.   There are things to consider as you work with a variety of clients, be they investors or business owners.

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

Mastering Client Contact and New Business

The fact of the matter is that leads are always available to those people that look and question the events, facts, and people in the property market.  Asking questions at the right time, and noting the changes in the property market will help you find your next opportunities for listings and commissions.

In this audio program, John Highman, Commercial Real Estate Coach, talks about the different ways to generate leads for listings and property transactions.

6 Factors of a Sales Drive in Commercial Real Estate Brokerage

At different times of the calendar year there will be good opportunities to run a sales listing drive.  As part of that you will be choosing the best methods of marketing and sale.  Business and investor sentiment will also have something to do with the choices made here.

(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)

So you have some sales listings?  Maybe you want more of that?  Either way, here are the main factors of opportunity to tap into as you drive the sales momentum forward locally:

  1. Timing for season and location – look at the property activity for the year, and reflect on the history for the area. Most sales calendars are best commenced just after the Christmas break and also just after the change in the financial year.  In each case you have a few months to build momentum on listed properties, and the people looking to buy are not generally distracted in local business issues or holidays.
  2. Best methods of sale for the time of year – you have a few methods of sale at your disposal. Choose the right ones that match the property and the client’s needs.   At the basic end of the equation you will have auctions, tender, expressions of interest, and sale at a price.  One or more of those methods will be the right choice for your listing.  Talk to the client and get their commitment to your recommendations; explain the issue to them, and convert them.  Match some vendor paid marketing into the right method of sale, and the exclusive listing process.
  3. Talk to the right investors and property owners – every listing will be more or less attractive to certain segments of the local property market. Find those people by directly target marketing at an individual level.  Get involved separately in doing that.  Make sure that you meet with the right people in the right places.  You want them to know you and remember you as the industry professional that they require.
  4. Repeat contact 300/90 – in our industry, regular contact will always help listing momentum and conversion. All of the people in your database should be spoken to regularly.  The 90-day cycle works well.  The way to achieve that level of contact will be through deliberate calls, letters, and meetings.   The database that you use should be adjusted to bring up that 90-day process of contact automatically.
  5. Use valuable and relevant marketing methods – if you have a commercial property to sell, the marketing message has to get out effectively and directly. Establish a comprehensive campaign process with all of your listings. Stage the campaign and adjust the promotional text and advertising frequency mid-term for refreshed inquiry.
  6. Track your streets and location progress – when you have anything to sell or market, review the streets and the competing listings. Get very involved in local area marketing.  Know what is happening in the streets and do something with that knowledge.

These simple strategies are all relevant and special in the sales drive that you may create in your commercial real estate business.  Optimize the process of promotion and property momentum.  The first few weeks of any sales campaign are the most important.  Get involved and get active.

(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)