In commercial real estate brokerage, your experience as a specialist broker locally is valuable in many different ways. You should charge a reasonable commission for your services and avoid ‘discounting’ at all costs.
Any client that is focused on getting a commission discount or reducing marketing costs as part of listing and any property promotion is not the client that you want for the long term. Be very careful if the client is making those demands on you before you make your property recommendations.
The client has to spend money and you should spend time on the listing. Exclusivity and marketing funds are required to make things work.
Results are the Focus
The client wants results with their property challenge; discounts are not part of that. Focus on telling the client how you will get results and why your solutions in marketing and market coverage are better than other local agents and brokers. Do you know why you are the ‘agent of choice’ for the property and the location?
To get results and momentum in the clients property challenge a few key factors must align and occur. That’s your job and they can be part of your listing pitch and presentation. Those factors typically being:
- Defined target audience – After you have inspected the property, define the target audience that is best suited to the asset. Decide how you will tap into that targeted segment of people. Are they active currently in looking for a property change?
- Best method of sale or lease – Choose the best methods of sale or lease and give reasons for your choices.
- Database relevance – Segments of your database will be sources of immediate enquiry. Short list a few people to take to the property before the local property marketing starts.
- Other local listings – Determine and understand the listings locally that you are up against. Do a SWOT analysis of some of the most challenging so you can optimise your property listing for better results.
- Recent levels of enquiry – Show the client how recent levels of enquiry have been tracking in the property type, and display the issues that tend to attract better levels of enquiry. They could be precinct or improvement related. Build some locational words and key words around the features of the property.
- Problem solving – If the property has challenges and weaknesses, resolve them before you start marketing locally. Define a strategy in each case.
- Marketing attraction – Your marketing message must be very good in every respect. You can get some help from professional copywriters and you can also purchase books that will help you with the words that sell and the phrases that sell. The right words will attract better readership and potentially greater enquiry.
- Marketing coverage – Decide how you will spread the message about the property, and design the marketing campaign to suit. What media channels will you use and can they be better than the others used by your brokerage and listing competition?
Through these simple things you can make your professional marketing stand out in a positive way for your property clients. That service is worth a good commission and a comprehensive vendor paid marketing funds commitment.