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.
When you are pitching for a listing in commercial real estate brokerage, consider the focus points of the client and the specific factors of the property itself. Then review the local market conditions. Your dialogue can evolve from those elements.
Develop your lines and ‘patter’ to engage the clients thinking. Avoid the jargon that we commonly use in the industry, and break things down into the core facts that really matter with the property. Simplicity tends to win more attention and closure on listing situations.
Give the Client a Clear Picture
Be specific and relative to the location and property type. Understand how you can add value to the listing process by specialising within a specific location and marketing the property specifically and directly to the right target audience.
In this audio program, John Highman talks about the ways you can direct the client’s thoughts in the listing pitch towards the things that matter so you are reducing the impact of any competing brokers.
When you pitch and present your listing strategies to a client, are you clear and precise about how the client should move ahead with you and why that is the case? Help the client see that you are the best solution to their property challenge; be special and real to their situation and property asset.
So how can you do this?
Give them some property listing and marketing strategies that then cannot refuse or ignore. Show them that you really understand the current situation that they find themselves in, and that you have a definite path of resolve. Have some stories from the location of others that you have helped move ahead in similar property situations.
Here are some other ideas to apply to the listing discussion with the client or prospect:
Inspection strategy – demonstrate that you have a clear strategy and method of inspecting the property that will give the client a better chance of attracting offers from the target market. You can walk the client through the property as part of that strategic approach; you can also use your mobile telephone to record the inspection process in video, and show them the factors that you find really important to the property marketing and presentation process.
Short listed interested parties – using your current database, you should have a short list of buyers or tenants to apply to the property inspection as soon as the listing comes on market. With suitable anonymity, show the client the short list so they know that it exists and explain how you will be using that list in moving ahead.
Marketing solutions and alternatives – your marketing recommendations for the asset should not be ordinary, so take the time to build a marketing campaign that reaches deeply into the target market. Provide 3 alternatives with the campaigns so the client has some choices and budget alternatives. Give the client your clear marketing recommendations so they can see the best ways forward, and show them samples of other adverts used locally and tell them why certain solutions are better for their property in the current market conditions.
Targeted marketing and personal direct marketing – the property has to be placed firmly in front of the current prospects and target market that you have in mind. Explain how you will do that, and provide the client with a way in which you will be communicating progress on each stage of the campaign.
Negotiation control – tell the client how you are to be preparing for the negotiation well before it is to occur. When you have qualified a seller or tenant as the case may be, you will have stages of qualification and communication that should be professionally controlled so the offer is encouraged in the correct legal format. Exactly how will you do that? Explain those facts to the client as part of your listing and or presentation pitch.
To capture the interests of the client as part of any listing presentation and brokerage pitch, you have to stand out as relevant and real for the location and the property type. Help the client see that you are the best solution to assist them through the challenge with their property and the current market conditions.
To convert more listings over time, make sure that you are providing your clients and customers with a clear strategy to move ahead that is carefully crafted for the situation.
If you are looking to grow your market share and improve the results for your clients, then you simply must seek and convert vendor paid marketing as part of your business model. It is the best solution for creating inquiry. It is also the best solution for getting results for the clients that you work for.
Lift Enquiry in Better Ways
As the level of property inquiry escalates as part of a dedicated and special promotional program, this is what typically happens:
Your database grows with quality people calling you on the better listings
Better quality listings allow you to speak to active investors and business leaders for the location
Your existing listing stock allows you to talk to other local people.
You get known as a property specialist for the location and that then helps you build listings with other locals
Other local property owners get to notice you as the ‘go to person’ for the location and property type
So these are all good things. Your ability to create vendor paid marketing will help you get started on the road to improved market presence.
So here are some ways to sell the marketing message and the requirement for vendor funds in your listing pitch:
Vary your packages offered – Most clients like to have a choice when presented with property matters and challenges. Give them 3 different approaches to marketing and advertising coverage (also provide the reasons for the different packages). When they have choices, the advertising spend gets a bit easier.
Show the value of a timed campaign – When should the campaign start and why is that the case? You should have answers to those questions and feed those matters into the client presentation.
Focus in on a target marketing – Put your targeted buyers or tenants into your campaign and categorize them for the client. That then makes it easier for the client to see who you are chasing for inspections and how you are going to create their interest.
Differentiate between local area marketing and regional coverage (where the property makes it necessary). There are differences in approach for each market segment, so treat them differently in your marketing.
Split campaign focus into primary and secondary coverage both online and offline – When you have done this, you can stage the campaign into segments and points of focus.
Use a private website portal to help the client see your feedback and results coming in – Make it easy for the client to see the results of recent marketing and inspections. A private portal can easily be merged into your website for the VIP clients and Exclusive listings that you have now and those that you will convert.
Put yourself into the property campaign – Help the client see that you are important to the promotion of the property, because you will be doing certain things that are critical to getting results with both inquiries and inspections.
From these simple and yet specific things, you can drive better levels of property enquiry. Look at your listing processes in commercial real estate now and consider how you can convert vendor paid marketing with each and every presentation that you make; your career will escalate faster if you can resolve the equation.
Are you prepared to move the client forward? You can have something prepared to catch the attention of the client early in the property discussion, negotiation, or listing pitch. If you know plenty of things about your location and the property type, then the strategy really works.
What is it?
You could call this an exercise in ‘verbal flexibility’. As commercial real estate agents and brokers, we need plenty of that as we move our clients toward a goal or conversion. Professionalism underpins the process.
The best agents and brokers are usually great at setting the scene for the client in the conversation and then moving them through the process, challenge, or facts.
In this audio program, John Highman talks about ‘Opening Statements’ and how they should be used by brokers and agents in commercial property brokerage.
Commissions get easier in commercial real estate when you understand that one single listing or one deal can easily be used as the foundation for other things and particularly opportunities. That’s when you can refine your actions and focus.
Take your single client, listing, or transaction and open up the opportunities that exist around you.
Need some more real estate business?
Here are the facts and some valuable ideas:
A good listing in any location can be the basis of making lots of calls to property owners in your town or city. Talk about your listings with the local people.
A signboard that you place on a property will be the foundation of connecting with nearby business owners and property owners. A signboard is a great business tool and will give you conversational leverage locally.
A quality property listing will (or should) be the origin of a door knocking program in your business precincts or territory. Get into your local area and talk to people about your listing stock.
Every time you get a call from an advertisement, ask the person calling you about what they have seen locally. They may have looked at other properties and therefore be an active buyer or tenant.
When you hold a property inspection, get the fuller perspective from the inspecting party about where they are now, what they are doing, where they want to be with their property needs, and when they have to do something. Ask good questions and make lots of notes.
List exclusively so that you can control your listing stock. Some agents just take on open listings for the sake of having a property on their books. Whilst I can understand the basic idea, open listings give you little leverage and ability to grow your market share. Exclusivity is the only thing with listing that will help you build your real estate business.
Know the market locally. Your comprehensive awareness of the listings, deals, negotiations, and time on market will help you through any client conversation and listing process. Be prepared to quote the facts.
Build on your successes and tell the ‘world’. When you have done a deal, get the message out to your location, your database, and your clients. Let people know that you are the person that has created a result. Encourage them to talk to you and discuss what happened.
Look for referrals in each contact and relationship. Use the power of referral business to grow your database with ‘warm contacts’. It is very easy to open a new opportunity from the basis of a referral.
This list is just the start of the process, and particularly so when you look at all the opportunities that are around you.
Every conversation, every lead, and client relationship can be expanded into something else. Ask and you shall receive.
Here are 3 topics for today. 1. How to do a successful listing presentation, 2. Tips for Identifying Property Features, 3. How to list an industrial property effectively. These are specialised commercial real estate coaching and training programs by John Highman, Broadcaster, Speaker, and Author.
In commercial real estate brokerage, the sales pitch or the presentation that you provide to the client should have plenty of character and commitment from you at an individual level. You are the ‘first point of sale’. Everything with the listing hinges on your ‘first point of sale’.
First and foremost in any listing presentation, the client needs to commit to you as the ‘agent of choice’ before they will listen to you with your recommendations and marketing solutions. Your character and commitment needs to flow into the presentation in a valuable way. Your skills and knowledge need to be superior to your competitors when it comes to winning the listing. Confidence and local property knowledge will help.
The presentations made by top agents are geared to personal involvement on the basis of an exclusive agency. When you control the listing, you can control the opportunity of a valuable transaction over time. Exclusive listings are easier to convert when you get involved in the marketing process at an individual level.
So how can you add ‘character and commitment’ to your listing presentation? Here are some ideas to help:
Connect with the client so that you can totally understand their property needs and priorities. Question everything before you provide recommendations. Drill down on the needs of the client to get to the true facts of the matter.
Every client will have certain challenges when it comes to price, rental, and timing. They will also have targets within their own mind as to what could be achieved. Those targets may be totally out of the question when it comes to the current market conditions.
Provide the correct recommendations to take the client forward, and put yourself into the marketing process at an individual level. Let the client see how you will be taking the property to the tenants or the buyers in a direct way. Forget about generic marketing; it simply doesn’t work.
Show the client the results you have achieved recently when it comes to properties of a similar type locally. Summarize the marketing solutions and the challenges in each case. Tell the client exactly how you promoted the listing and reached the target audience. Compare those actions to the subject property and what will be required to achieve inspections and negotiations.
Your database is likely to be quite valuable when it comes to winning listings. Keep your database up to date and use it as leverage when it comes to pitching for a listing. Show the client the short list of prospects that you have already identified as part of marketing the property. When the property is released to the market, the people on your shortlist should be encouraged to inspect the listing as part of a pre-release. It is very difficult for a client to overlook or walk away from a prospective list of tenants or buyers. Use your database and your short list as leverage in the presentation to the client.
Any quality listing should be directly marketed to the local area. That will be at a personal level in addition to any generic advertising you may be doing. Prepare a suitable flyer or brochure to take to the property owners and businesses in the same general location as the listing. As soon as the signboard goes on to the property, you can be door knocking the businesses and the property owners locally.
It is easier to win a listing when you get personally involved in the marketing process. That involvement can only occur with exclusive listings. Help the client understand the difference and commitment that they and their property will receive when it comes to an open listing and an exclusive listing.
In commercial real estate and brokerage, the exclusive listings that you convert and create will help you build market share. Open listings are generally a waste of time and any results that you get from the open listing process will be a process of luck more than anything else.
In some markets and with some agents, it is common to hear that the open listing process is the only way to build listing stock. The problem is quite common when it comes to industrial property and with the newer brokerages or agents. Those agents are quite generic in quality of service and marketing activity. They have no point of difference to help their listing process and marketing plan.
Your conversions to exclusive listings will elevate when you are working as a property specialist, and are regarded as the local expert to solve the client’s property problem. It is very difficult for a client or a prospect to walk away from or ignore the services of a top agent.
Generic agents take on open listings just to get the stock; specialized agents take on exclusive listings only. If you want to improve your market share, you will need to practice your processes when it comes to pitching for an exclusive listing. You will need more exclusive listings.
To improve your conversions for exclusive listings, here are some ideas:
To convert more of these listings, you do need to feed your contact pipeline with a systematic prospecting process. Every day connect with new people that you have not spoken to before. Over time, repeating the connection process with the same people will allow you to convert more meetings and make more presentations. On average, it takes about three or four telephone calls to get a meeting with some property owners and property investors. Establish your call contact system, and implement it every day so that your pipeline of opportunity is growing.
There are two reasons why you will get an exclusive listing. The first will be that you are regarded as an expert in the local area, and the second will be that you are regarded as a marketing specialist. It directly follows that you will need to build your brand and prospect model accordingly. Every pitch and proposal that you make should be structured with those two issues in mind.
A good quality property will always create more enquiries from your marketing efforts. Top agents will usually focus on the best properties and the best clients. Those top agents walk away from poor quality listings, open listings, and unrealistic clients. Protect your time and your agency procedures as part of that process. Don’t take on a listing that you regard as unnecessarily difficult and unrealistically priced.
As mentioned earlier, the exclusive listing process will help take you to the top of your market with a commanding market share. Practice your pitch and your proposals accordingly. Role-play your presentations in each sales meeting so that both you and the team can provide special services and solutions for the clients that you serve.
In commercial real estate agency and brokerage today, you do need to have an effective presentation strategy that connects to the client and encourages them to commit to your listing strategy and approach.
Your approach to every listing presentation should be carefully considered and planned to improve your conversions. Your strategies and recommendations to the client need to stand out as the most suitable and successful.
The promotion and marketing of commercial real estate today is not an experiment. Property specialists are required to formulate the right approach to match the client’s needs and the existing property in the current market. Location, competing properties, market strategies, and the current levels of enquiry will all have something to do with the presentation and listing process. Be specific and not generic with your presentation.
It should be said that the generic approach to listing presentation simply doesn’t work. There are too many competing agents chasing the same listing in today’s market. Given that our success in the industry relies on the control the listing stock, you have two clear and relevant things to focus on. They are:
Your prospecting processes in your sales territory,
Your presentation and sales pitch with every client and listing
Practice is required with both of these issues. A systematic approach and self-improvement over time will help you capture more listings in the right way.
Here are some steps to an effective sales pitch or listing presentation:
Inspect the property comprehensively and fully before you do anything. As part of that process, meet the client on site so that you can talk through the issues as you see them, get the feedback from the client as to their current motivations and marketing requirements. Find out if the property has been put to the market previously and if that is the case, how successful that may or may not have been.
Review the other listings currently available in the market for any pressures of competition and any indicators of success. Some of those listings will give you trends and indicators to apply to your current client’s property.
The improvements and the location of the listing will dictate a particular target market. Determine how that target market will be active and how you can reach into it. Your marketing plan and the campaign should be structured around the target market with due regard for seasonal timing, and length of campaign.
The previous three points will allow you to establish your proposal and your presentational recommendations. Take plenty of photographs around the property to use as part of your pitch to the client. They will always be interested in their own property on the screen of a laptop as you talk to them about your recommendations.
Provide the client with two or three alternatives of marketing so that they have some choices based on your target market and your recommendations. Choices allow flexibility and the client will not feel so pressured.
Don’t provide discounts to entice the listing. Provide points of difference and relevance that help make your recommendations stand out as important to the client and their current property needs. A property owner will be prepared to pay a reasonable commission and the required marketing funds, providing the agent has the suitable skills and ideas to solve their current property pain. A good presentation will do that.
Show your speciality and your recommendations quite clearly. Stand out as the agent of choice and not just another agent providing a generic solution. All of that being said you need exclusive listings when it comes to providing the quality service that the client requires. Open listings are based on ‘luck’ more than anything else. Control your listing stock and convert more exclusive listings.
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