In commercial real estate brokerage, you must have a listing process and strategy that helps you connect with more clients and prospects. I would even go so far as to say that the process should be practiced weekly within your sales team.
Do you know your conversion rate in any presentation for a sale or lease? How would that compare across the team? Questions like this should have clear answers. When you know the numbers you can see where things are improving. Listings and commissions can then be the result.
The property market is always changing, and on a weekly basis your brokerage team will find different challenges when it comes to presentations and listing conversions. What you can do here is share the collective experiences of the team and role play responses. Confidence and relevance are the keys to converting new business through better listing presentations. The practice process helps a lot in so many different ways.
Here are some presentation and listing techniques that I have used for many years. Perhaps you can adapt them to your market:
- Understand the property before you do anything with the client. Check out the property and its location. Review the competing listings in the same location. Understand the prices and rents that are occurring locally and the trends of those over the recent 2 years. Information like this can help you with meaningful discussion with the client. Relevant facts prove that you are the expert.
- Meet the client at the property so you can walk through it together. Ask plenty of questions to get an idea of the history of the property, why the client purchased it in the first place and why they are seeking to move it to a sale or lease today. Motivational factors have a lot to do with the way you should present your proposal.
- From and during the property inspection determine the things that the client is worried about or questions that remain unanswered for them. You can merge those factors into your written proposal. That will help you with matching recommendations to the focus of the client. It also shows a high degree of client respect.
- As a general rule do not present your proposal and marketing strategy at the first meeting with the client. Ask for 24 hours to formulate your thoughts and investigate the market. Most clients will respect you for that request.
From the above four points you can formulate a great client connection rather than pitch and present without all the required facts. Don’t be too eager to jump at a listing opportunity. Get the facts of the situation first and make sure you understand them all. List the properties that you know can develop into a closed and completed sale or leasing transaction.