A Simple Formula for Winning More Commercial Real Estate Listings
Often, I see agents struggling with a sale or listing presentation with a client. They don’t know how to attract the client’s interest, given that many other agents are competing for the same listing; they think about discounts and other marketing enticements as potential leverage.
The real fact is that they should have looked at themselves first. They are the ‘make or break’ factor in winning the new business.
Top agents win the business simply because they are highly believable and specialised. They know what the client requires and match the marketing story accordingly. They build their ‘sales plan’ with solid services and client solutions.
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Can Your Clients Believe You?
Most clients will choose an agent based on the ‘believability factor’. The formula is simple. Those top agents cover these facts:
- They show that they have the best understanding of the asset and the required marketing campaign
- They provide solutions to the weaknesses of the property and help the client move through what needs to be done before the marketing campaign commences
- They build on the strengths of the property to get greater levels of interest from the market
- They give market evidence and tell stories that help the client connect to the listing process and strategy
- They get deeply involved with the campaigns for exclusive listings so the message about the property is well circulated and inspections are maximised
- They make the client ‘comfortable and confident’ with the property challenge ahead
Notice that ‘discounts’ are not mentioned in this list? If you have to discount commissions or fees to attract a client to your business, then the client is not correctly committed to the sale or lease process, and it is likely to be a big waste of time.
Watch how you proceed with clients of that ‘discount’ nature; any negotiations on the property are likely based on unrealistic expectations and closed attitudes. When in doubt, leave the client’s request for a discount. You are a professional real estate agent, and your high-quality services are worth good money. Your presentations should show that.
Real Estate Motivators?
Sometimes we forget the real motivators in property marketing. Good clients want results and they don’t want to be a ‘property marketing experiment’. The mentioned 6 points are very specific and real in any sales or leasing pitch. Look at how you present your services and pitch for a listing. Answer these questions:
- Do you show your deep understanding of the client and their property?
- Do you give real and relevant ideas that promote the property in special ways?
- Do you personally approach every exclusive listing to the market? By that, I mean direct calls, letters, door knocking, and database drill-down.
Most agents struggle with these simple points. When you understand the requirements of any client in servicing and marketing commercial real estate, you can confidently sell your professional services comprehensively. Over time, this process will help you convert more exclusive listings with vendor-paid marketing funds. It’s a simple equation, really.
