Commercial Real Estate – Show and Tell Strategies for Better Listing Conversions
All too often you see or hear a commercial property broker or an agent ‘talk’ about market conditions to a client as part of a listing pitch or presentation. Whilst the logic seems sensible, a couple of other things should also be done to lift conversions. Most particularly they are the provision of images and statistics in support of key statements and arguments. Real facts are required to engage the attention of clients and help them move to a point of good decision. (NB – you can get plenty of brokerage presentation ideas here in ‘Snapshot’ – its free)
Show All the ‘Evidence’
The people that we work with as customers in commercial real estate sales and leasing, like to see all the ‘evidence’ and the facts to help them move ahead without levels of high risk. Think about it; we are asking the client or prospect to do one or more of the following:
- List their property
- Spend some marketing money
- Make a choice in setting a price or rent
- Agree to a marketing campaign
- Choose the best method of sale or lease
- Accept an offer in a negotiation
These issues are significant and the outcomes for a client are real and relevant to today’s property market conditions. Agent’s and broker must work very closely with a client to get a positive result. Exclusivity will be part of that process.
What can you do here? The client will have an opinion on just where they want things to head and what the outcomes are that they seek. They want help in resolving their property challenge. Have you got the ideas to help the client in a timely and relevant way?
So, in the first instance, it is critical for you to understand what the client knows about the local property market, what they think about their property (realistically), and how flexible they are in moving through a sale or lease negotiation situation. When you know these things, you can present your ideas, showing the trends of the local area with property, and give solid recommendations to the client about their property today. It will make it easier for them to accept and work with your ideas.
Use ‘Visual’ Tools
Here are the ways I like to show a client the real facts of the market and their property:
- Show them a graph of pricing or rent results locally for the last 2 years
- Chart and show the time on market factors for a precinct and property type
- Show the client the results of marketing when it comes to a qualified enquiry
- Give some good examples of advertising layouts for the property type
- Show photos of other competing listings in a location
- Show different marketing campaigns utilizing alternative spending and media strategies
- Have some stories to tell about the location and the property precinct
All of these things are very engaging as part of a commercial real estate presentation or conversation. They will help your listing conversions. You can put these things in the ‘cloud’ for ready access and download with the client or customer.
It is hard for any client to ignore your recommendations and strategies when you cover and show these things comprehensively from the very beginning of the contact and conversation.
