In commercial real estate brokerage it is essential that you understand why the client would use you and or your brokerage to resolve their property challenge. There has to be an answer and that answer has to be client relevant and specific.
There are far too many generic and ordinary agents out there. The best agents stand out as specific and direct in the market place; they have skills and knowledge that are of value. They offer particular solutions to improve client services and outcomes. That is why the best agents convert more listings over time.
Consider your current brokerage and the services offered. Why should the client use those services? Specific answers are required if you are to convert property opportunities and listings more successfully. That is exactly what top agents do most of the time.
Consider these questions:
- Can you offer specific points of difference when it comes to a property strategy, pricing, or process?
- How many other brokers or agents are there in your town or city offering similar services? If that is the case, why are you a better choice?
- How can you stand out as the agent of choice when it comes to sales, leasing, or property management?
- What clear benefits and advantages do you provide your clients as part of your professional service?
- What do you know about the local area and the recent commercial property activity?
- How do you connect with your clients in a regular and ongoing way to help them with property challenges?
- Who are the next clients needing your services and why would that be the case?
Simple questions like these will help you win new business. Your brokerage and your services should be enhanced over time so that the client remembers you when they need property help.
Timely Responses in Property
Customer satisfaction is one thing to remember in commercial real estate brokerage, but the results that you achieve in a timely way are also quite important. In every property presentation show the client how you can bring about the best results for them in a timely way. The best property presentation will usually incorporate specific comments applicable to the asset, the client, and the local property market. How can you be more specific to the client situation?
Here are some specific ideas to help you tap into the client’s interest, their challenges, and their factors of property motivation. These ideas can be refined for your location and your property speciality:
- Position the property – when you look at the client’s property, the improvements, and the market conditions, you can position the property directly into the location. That level of understanding then makes it a lot easier for you to provide specific recommendations to the client in marketing and negotiation. Tell the client exactly where their property is today when compared to other listings nearby; refer to elements of price, time on market, marketing, and levels of enquiry. Show them the strategies that you will use to strengthen their property and its challenge in the local area as part of the marketing process.
- Clarify the target market – when you look at any commercial property today and the requirement for a sale or lease, there will be specific choices to make with the target market. Define the target market for the client so that they can see how you will pull in the inquiry, create the inspections, and encourage negotiations. Understand if the targeted market is to be local, regional, or countrywide; explain your choices in that way. The decisions made in target marketing will drive the construction and implementation of the marketing plan.
- Provide plenty of examples – many clients are too close to their property challenges and have problems. They need some relief when it comes to the sale or lease situation. Make it easy for them to see the best way forward and the property recommendations provided. Give them examples from the local property marketplace and the other clients that you have serviced. You can use some testimonials, photographs, stories, and case studies to provide plenty of relevant local property examples.
So the message here is that you can be very specific and direct with your clients to help them resolve their property challenge in a timely and direct way. You can give them plenty of specific reasons as to why they should use you as the agent of choice in marketing their property.