In commercial real estate today, the presentation or the sales pitch that we create should be focused on not only the property, but also the client. Both factors need to be completely understood prior to the presentation occurring.
The property will have attributes that can easily be compared to the property market today. From that you will develop some ideas and strategies of promotion. It is the client that will have some unique challenges and issues to address as part of the marketing campaign. Bring the client and the property together as part of your sales pitch, and then the presentation makes a lot more sense.
Here are some ideas to help you as part of gathering the correct facts and information ready for the presentation:
- In preparation for the proposal or the sales pitch, take the time to completely inspect the property inside and out. When you have done that, travel through the local area to identify any competing properties that may have an impact on the marketing campaign or the time of its implementation.
- Look at the methods of marketing that these other competing properties currently adopt, and determine the success rate in each case. You don’t need to repeat the failures of other properties in the local area. Your recommendations need to be better than anything else that is available. The exclusive listing and exclusive marketing process is or should be part of producing the best results for the client. Prepare your strategy on that basis.
- Following your inspection of the property, determine the target market that will best suit the marketing campaign. Given that your recommendation should be for an exclusive listing, put yourself into the marketing effort as a key component of spreading the message to the required prospects. Most other agents are likely to overlook this personal approach to marketing and quote some process that is quite generic. Tell the client how you will get personally involved from the start of the campaign, and how you will be feeding them information on progress and enquiry.
- Ask the client about the history of the property during their ownership. They will have had some reasons for purchase and acquisition originally. Have they been a long term property owner, or a short term investor? What is their reason for sale today? In an ideal marketing situation, what are the outcomes that the client requires and in what timeframe? All of these facts will have relevance to your proposal and presentation. Make sure that you completely understand the current situation of the client and the property. Build your strategy around those two things.
- Get their impressions of the current property market, and the knowledge that they may have regards the required property transaction. In this way your proposal or presentation can be completely matched to the client and their experience. Be prepared to fill the informational gaps with the client if they exist.
- Create a selection of photographs relative to the competing properties locally. It is quite likely that the client has no idea of what’s out there at the moment with the other listings and the differences between properties. Find some evidence relating to all the recent sale and lease transactions that are comparable; that information will help explain your recommendations and strategies to the client today.
The marketing of a commercial or retail property today can be unique but also complex. The clients that we work with invariably have little understanding of the alternatives are available when it comes to direct and indirect marketing. Have samples of advertising material available as relates to the Internet, websites, e-mail, signboards, newspapers, and direct mail. Be prepared to explain how each of these strategies work together to boost the enquiry rate. Put yourself and your actions into the campaign and your recommendations.
When it comes to marketing a property today and pitching or presenting your recommendations to the client, much of your success will come down to relevant and specific preparation. Gather the right information and prepare your ideas accordingly.