You have found a commercial or retail property that you consider is saleable and you would like to convert to a listing. How can you position yourself to improve your listing chances?
There will be other agents in your town or city chasing the same client or property, so expect some competition. Some of those other agents will be quite good at presenting and pitching for a listing. The question then is how can you improve your chances? How can you be better?
The Best Agent for the Job
Most clients considering selling their property in commercial real estate, are looking for factual reasons and or strategies to achieve the best result. They are not particularly worried about the agent chosen for the task; they want to know that the agent has a marketing plan and system to solve their real estate problem quickly and effectively at the best price possible. Is that you?
Be good at presenting your case and solutions for the sale. Logic and information should be sourced to support your connections and conversations with the client. So, there is a reasonable degree of preparation to understand the market, the property, and the client.
Client Priorities and Targets
Many clients will have priorities and targets in selling their property, and individual perceptions of how that sale should occur for them. Their ideas will be unique. Only your questions will help you get to that base of information and the client’s understanding.
When you get to the basic facts, you can act comprehensively and present your ideas into the client’s requirements. You can ‘mix and match’ ideas with outcomes.
There is one basic rule to remember here as you present your case of sale to the client. Do not be ‘generic’ in any way; strive to be different and relevant. Let the other agents pitch their services generically and collectively.
How Can You Be Part of the Sales Solution?
The only question you need to think through is how your ideas are more relevant and specific?
Here are some strategies to help you explain to the client or property owner, the various facts behind taking their property to sale in this market.
- In most cases today, quality investment stock is in short supply. That means you have a good chance of boosting enquiry from a carefully constructed property marketing campaign if the asset and investment are of quality or has reasonable potential. Think about that marketing campaign, so it is directed closely aligned into a location and the target market.
- Define the target market so the client can see that you have thought about specific ways to boost enquiry and opportunity. The target market will be types of people and business owners or investors. When you have defined the ‘targets’, the question remains as to how you can connect into them, and you can talk to the client about that. The answer you apply there should be optimized for the situation. I go back to the point that you should not be ‘generic’ in your property promotion solutions.
- Nominate select ‘channels’ of marketing that you know can give you an edge when it comes to enquiry and promotion. You have many alternatives to advertising to consider online, offline, and directly. Spit up your marketing processes to local and then regional target markets. Mix and match some of your ideas into social media channels, your database of people, and your local area contacts. There are strategies here that you can build around those opportunities.
- An inspection process is worthwhile to show the property’s features and thereby will be of interest to the client. That is the inspection approach you will take to show the property to people after you have qualified them. Do not just show the property; have a real strategy to the process and explain your real estate ideas to the client.
- Negotiation tactics are worthwhile considering, and particularly at this point. Every property will have strengths and weaknesses. Some of those things will require a negotiation approach. Taking the client into those ideas will show them that you have thought about their property, the promotional elements, and how you can close a transaction for them.
- Timelines and tactics are essential in showing strategy and progress. Use a timeline approach with your client to help them see what you will do with their property and the process. You can split that timeline into presale, marketing, and inspection procedures. Design your approach on paper so the client can see your unique and unusual ideas of solving their property challenge.
So, these ideas will help you present your ideas and case for a sale of commercial property in any market and at any time. Prepare your thoughts around these facts, and you will find that the client will listen to you as the property expert that could help them.