In commercial real estate agency it is common to be presenting your services and strategies to a client within a boardroom environment. The corporate clients that we work with will sometimes have a number of decision makers involved in the agency choice and listing process.
The boardroom will be the place where all parties get to see the strategies offered by the agent. This then says that your services should be correctly matched to the client and the boardroom presentation is of the highest quality.
It is interesting to note that many corporate clients have differing motivations when it comes to selecting an agency. Understanding the decision makers at the table will help you pitch and present your professional services. If possible, research the other decision makers before you get to the listing presentation. Be prepared for the differing characters and points of view. The motivations in the ‘corporate world’ are very different than that of a single prospect or client.
So why would a corporate client appoint an agent to help them with property challenges? Here are some ideas to help you:
- Tenant advocacy work is one of the most common services provided to corporate clients. They may have a business in one location that requires repositioning into another market. Invariably the corporate client will not usually have any market knowledge to use as part of the relocation process. A client of this type will get great value from an agent working on their behalf to source the necessary properties and assist with market information. In this case, the corporate clients will be paying the commission of the agent, and the agent will be working exclusively to find the correct property for the client. The agent will then negotiate the lease on their behalf.
- Many companies and corporations appoint agents to work on their behalf when it comes to buying another property. Large corporate groups have specific property needs when it comes to property improvements, location, and end user markets. It is far easier for a corporate client to appoint an agent to source the right properties. Those properties can then be placed on a shortlist. The agent in this case takes the hard work out of the property identification process for the client. In this situation the agent will again be appointed by the corporate client and the agents commission will be paid by them as the buyer.
- A sale and leaseback situation is quite common when it comes to companies and corporations and their property requirements. It can be the case where a company or corporate group wants to offload properties from their business structure. The sale of the property will bring in necessary cash flow, and the lease back will give the company the stability and occupancy that they require as they move to the next strategic decisions within their business.
So all of these situations will most likely involve a boardroom presentation to a number of people. The best person to do the presentation within your agency should have the necessary experience and confidence when it comes to the local property market, the property type, and the challenges that the client faces.
Take the time to understand your client and their priorities prior to formulating your final recommendations. Many corporate groups like a number of alternatives to consider before they will make a final choice. It is wise to have three alternative strategies within your property presentation. Provide logic to each of the strategies so that the client can make the final decision.
Every sales pitch or presentation requires preparation and practice. Over time these things do come naturally, however some boardroom presentations are so complex that considerable practice and preparation will be necessary; a high degree of planning will be required when it comes to visual aids, proposal documents, supporting documentation, and team strategies during the presentation. The client needs to understand and see the confidence and relevance you bring to their business as part of solving their property challenge.