How Common Failure Stories Can Give You Marketing Leverage
In commercial real estate brokerage, a few ‘failure stories’ and ‘failure examples’ will give you some valuable leverage with clients and prospects. In simple terms, they will start to listen to you.
Look around your location and review all the listings that are out in the property market currently; many examples of property failure and stagnation will be available locally for your use in client presentations and negotiations.
(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)
Where are these Examples?
Try your competitor’s listings for starters. Review the competing listings for your region, and take copies of low grade promotional material. You can also take photographs of properties that are struggling to get enquiry. Property mistakes are just so obvious when you dig down into the facts.
Use the Negatives to Full Advantage
So what are examples that you could find and work with? Try some of these for starters:
- Property listings that are poorly marketed.
- Properties that are on an agent’s books for a long time.
- Marketing strategies that are not creating enquiry or inspections.
- Overpriced listings that have not created enquiry.
- Incorrect methods of sale or lease from the local area.
- Poorly presented properties that are clearly low grade marketing statements.
- Properties and or clients that fail to take into account the trends of the local property activity.
- Internal photographs of properties that are not well presented for inspections.
- Low grade property photographs and signage.
- Open listings versus Exclusive listings.
You can do a lot with this list of issues and challenges. Some of your competitors will make plenty of property mistakes. Every mistake that they make is a point of leverage for you. Take a property marketing mistake and turn it into a strategy statement where you can offer a better solution.
The Best Fact to Use?
From all of these items in the list, the most obvious and useful is that of the difference between open and exclusively listed properties. If an open listing sells or leases it is usually because of luck more than planned process. Keep your statistics for time on market comparing the two listing processes.
So let’s say you use the list and the items as points of client communication and discussion. Use charts, photos, lists, advertising material, and statistics to show the client where things have failed. When they can clearly understand what you are saying from the negative perspective, you can then provide the best solution and samples of what that solution may look like for your client.
Wait there’s more! There’s one other important fact to remember here. Some clients like a few solutions from which they can make a choice, so don’t overlook that ‘choice’ strategy in your marketing and presentation processes. Give them some reasons to make choices. Make the choices easy based on real evidence and market facts.
Top Agents?
Top real estate agents are ‘great story tellers’. They know how to craft a point of communication and build on that point. Failure stories are part of that positioning. Isn’t that what we call marketing?
(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)
