Commercial investment sales is a special part of the property market. The rewards can be high in commissions providing you have sufficient listings, market share and qualified enquiries.
I also like to insist on ‘exclusivity’ as part of the property listing process. In this video I explain why that is important if you are to tap into the investment sales opportunities in your town or city.
See some ideas on Video about how Brokers can establish themselves in that lucrative segment of the industry.
Many agents today struggle to provide a relevant and interesting sales presentation. Generic presentations seem to be the order of the day, and in most cases the client will be meeting with four or five agents before they make a decision. You simply cannot do a generic sales presentation. Your pitch or presentation has to be interesting, relevant, and useful. It must relate to the current property market and the subject property.
Here are some tips to help you focus your sales or listing presentation:
The first stage of the presentation should always be to connect with the client and restate their need or interest when it comes to the particular property matter. The client needs to see that you are on the same wavelength and fully understand their current situation.
Next, you should summarise the attributes of the property as you see them. Explain the factors of the property that are critical to the potential promotional campaign and marketing process. Some of those features will be fed into the advertising and media material to attract the target audience.
Given the previous point, explain to the client the target audience of prospects as you see it and then relate to the current levels of enquiry from that group of prospects. The client needs to understand exactly what enquiry is out there and how it is coming to you at the moment. Have due regard for the time on market factors for the property type and the prevailing market conditions. Tell the client exactly how you will be attracting those prospects to the property.
Given all of the three points, you can now move into a summary of current and prevailing market conditions. Tell the client where the competing properties are currently located, and how they are being marketed. Give the client a summary of the time on market factors as they apply to those other properties still on the market.
Give the client some clear solutions relating to marketing. Vendor paid marketing should be the norm and not the exception when it comes to listing. Give the client three alternatives when it comes to vendor paid marketing and marketing costs. Invariably they will usually choose the middle solution.
The firm and resolute when it comes to the type of listing and the method of marketing. Exclusive listings are required to help you attract the necessary enquiry over the marketing period. All of your listing sales pitch should be geared to the dedicated focus and action generated from an exclusive listing.
In most listing situations, you can give the client a summation of price or rental as it applies to the listing process. Current market evidence and existing other properties will support your logic and recommendations.
As you move through all of the five stages, you can ask questions of the client to see how they relate to the information you are providing. Always make your presentation or pitch a two way conversation. Keep the client with you through the presentation logic and property recommendations.
Lastly it should be said that the typical property presentation should not go for an excessive period of time. In most cases the presentation should be completed within 20 minutes. If the client shows further interest or raises a extra questions, then the time can be extended to 30 minutes.
Keep to the point, and provide the right information for the client to make key decisions. Top salespeople do less than 40 per cent of the talking when it comes to a sales pitch or presentation. They get the client involved at all stages of the process. At the end of the presentation ask for a commitment. Most agents are afraid to ask for the listing.
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