A Heads Up on Client Connections When Pitching for Commercial Real Estate Listings
When working with several different prospects or clients in commercial real estate, you can easily forget how to serve them effectively.
All too often, I see agents who are not listening to the client and who miss the point of what the client is really saying.
Commercial property sales and leasing services are unique and complex. Every listing pitch and presentation you make for a client’s property should be relevant to the client, their property situation, and the local market. To achieve this match, you need to educate yourself about what is going on in the location and match the real estate facts to what you can do for that client.
Aligning Your Services to the Client
I like to think of this process as one of ‘alignment’. In doing this, you are explicitly considering all of the facts of the property in relation to the alternatives that are available. It is not an easy issue, but when done properly, it can provide great advantages in converting the new real estate business to a listing. Generic agents convert less business, and that’s a fact.
Here are some factors that can be incorporated into your sales pitch or presentation to help your chances of conversion.
- The decision-making process will differ from client to client. Get to know who will be making the final decision and how they will be forming a choice given the property and the market today. In many respects, you will need to offer them some clear choices and market facts.
- Your client’s business and priorities will influence their decisions. Timing and method of sale or lease could be specific to the client and how they must act in listing and marketing the property. The facts can be pretty complex when working with businesses and property investors. Ask lots of questions.
- Get to the core issue or problem that needs to be solved. Is it price, rent, or timing? Is it disposal, financing, or liquidation?
- Determine if you are the right solution by looking at the real estate services and marketing solutions that you can offer. Do not be generic. Get specific when it comes to attracting property enquiries and inspections.
- Why are you better than your competitors in this market? Help the client understand these facts. It will assist them in the final property agent decision.
- Reinforce your credibility as the adviser or agent of choice by giving real marketing and inspection alternatives that cannot be avoided or ignored.
- Provide a selection of marketing solutions with solid recommendations that the client can see and appreciate. Every property should have three marketing alternatives. The client will then feel as though they have some control over the final outcome.
- Look for real estate advantages and selling points for every property and match them to the right target market.
What you are doing here is educating yourself about the property and the client. When you do this, the process of pitching, marketing, and negotiating the property sale or lease becomes much easier.
