The listing presentation that you make in commercial real estate can and should be highly focused on the client and the property. Your preparation, local market knowledge, and relevance are the keys to making the presentation process successful.
If you really want the listing then you will need to commit to the listing facts in a deep and meaningful way. Good listings don’t just happen; they are the result of real effort and commitment to the client and the challenge that they face. Take time to understand what the client wants to do and when it needs to happen. Be the solutions provider to take things forward.
So let’s take you through a strategy to help you position the property and potentially win any listing sales pitch:
- Seek to understand the clients focus and the facts about the property before you start the process. That will usually involve an inspection of the site and review of the surrounding area. Take photographs at the inspection as they will be useful at a later stage to make reference to the strengths and weaknesses of the property or the area to be worked with.
- It is useful to have the client attend the property inspection with you, so they can see how you assess the sale or lease potential, and then set the marketing process for the upcoming campaign.
- Define the correct target market for the property based on the improvements, property layout, and the services and amenities available. Check out the other listings in the property market today that may be ‘competing’ and therefore relevant to your campaign. Your property when listed will need to be positioned favourably to attract the enquiry around those other listings.
- It directly follows that you should define exactly how you will attract the enquiries from the defined target audience. Put yourself into the marketing process for the client to see how relevant you are as an agent to solving their property challenge; most agents don’t do that at all well, and consequently have no point of difference in winning the listing and promoting the property. Tell the client exactly how you will take the property to the local area in a personal way; that will usually involve talking to tenants and property investors or owners depending on the property and the sale or lease situation.
- From the previous point you can build a focused marketing campaign that drives more inquiries in your direction. How can you lift the rate of inquiry for the property? You should have an answer to that question for the client, and therefore help them see the strategy you propose. Develop an approach to marketing that is not ‘standard’ but is unique for the facts of the property as you see them. I go back to the point that you should get involved in the marketing process by talking to property buyers and tenants locally; use any high quality listing to do just that.
- The qualification process will be relevant to the marketing campaign and should allow you to shortlist the right type of people with the capability to purchase or lease the property. Don’t book an inspection with anyone without having moved them through the qualification process.
- Put some technology into the promotional strategy. Have samples of online advertising and marketing that have been used in other campaigns. Show the client how different online marketing processes can be more successful than others. You may also be able to set up a sample online property layout for them to view.
- With any high quality listing, it pays to focus on exclusive the listing process supported by professional marketing materials. Use samples from other campaigns to show the relevance of this approach. Vendor paid marketing funds will be critical to promoting any high quality listing in a comprehensive way. Your pitch or presentation should be designed for that outcome.
- Explain to the client how the timing of the marketing campaign will be important to the inspection process, negotiations, and the chosen method of sale or lease. Use a time based Gantt chart to show how critical decisions and promotional factors will be moved through as part of preparing for the property promotion.
- The placement of a signboard on the property is likely to be important to local enquiry. Provide the client with samples of signboards from other campaigns so that they can make an informed decision as to signboard quality and positioning with their property. In most cases you will find that a high quality signboard will create a lot of local interest from businesses and property investors.
If you have comprehensively covered all of the above facts, your listing presentation will have a reasonable chance of client acceptance and commitment. Ask for the listing before the presentation is completed; don’t let the client delay the decision process.