When working with a number of different prospects or clients in commercial real estate, you can easily forget about the right way to serve them. All too often I see agents that are really not listening to the client and that miss the point of what that client is really saying.
Commercial property sales and leasing is special and complex. Every pitch and presentation that you make for a listing should be with relevance to the client, their property, and the local market. To achieve this match you really do need to be educating yourself and matching the facts to what you can do for that client.
I like to think of this process as one of ‘alignment’. In doing this you are specifically considering all of the facts of the property 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 business to a listing. Generic agents convert less business and that’s a fact.
Here are some factors that can be fed into your sales pitch or presentation, and that can 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 clients 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. When it comes to working with businesses and property investors the facts can be quite complex. 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 really are the right solution by looking at the services and marketing solutions that you can offer. Do not be generic in any way. Get specific when it comes to attracting property enquiry 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 3 alternatives of marketing. The client will then feel as though they have some control on the final outcome.
- Look for advantages and selling points for every property and match them to the right target market.
What you are doing here is educating yourself to the property and the client. When you do this, the process of pitching, marketing and negotiating on the property sale or lease is a lot easier.