How Much Information Should You Provide in Your Listing Pitch in Commercial
Your listing pitch is just so important in commercial real estate brokerage. You will only have a short period of time where you can show your ideas and confidence in resolving the client’s property challenge. Soon your competitors are likely to be talking to the same client and giving their ideas in a new and fresh way.
What can you do here with your listing presentation to lift it to the best level? There are 3 words that are really important in your presentation. They are:
- Connect – make a full and relevant communication with the client using facts, numbers, images, examples, charts, and graphs. Take the time to fully understand the client’s situation and property challenges before you go further. Let them see that you fully appreciate their targets and pressures.
- Explain – if you have some case studies from the local area you will be at an advantage when it comes to the client’s engagement and understanding. Use your local information as part of a ‘show and tell’ process. Make it easy for them to see that you are the best agent that really understands the local property market.
- Recommend – always provide the client with some ideas about how they can move ahead with confidence and show them 3 alternatives, and in doing so recommend at least 2 of those methods of approach.
It is interesting to note that many agents are quite ‘soft’ on one or more of the issues mentioned. They don’t take sufficient time to figure out the client’s situation and then pitch ideas into it. Failure to deal with these 3 things will lessen your chances of listing conversion.
Client Relationships Matter
It should be said that your established relationship with the client will also affect the conversion you achieve; so you are at an advantage if you have been talking with the client on other issues over time and they trust or respect your ideas.
What can you talk about in your listing presentation? Try these for starters so you can lift your conversions:
- The target market for the particular property – clearly defines exactly who you are to attract in your marketing campaign and how you will attract those people.
- Recent transactions – give a list and a few examples of recent sales and or lease transactions from the local area.
- Inquiry activity – you know how the inquiry is coming in to your office currently, so make a story from that and show the statistics that apply to recent property inquiry – compare those numbers to inquiry activities over time.
- Feedback from inspections – tell the client what you are seeing and hearing in the property inspections on other properties – there will be a message to work with.
- Time on the market – the time of year and the property type will impact the time on market, so be prepared to give the client some recommendations about the right time to put the property to the local tenants or buyers as the case may be.
- Best strategies for marketing – look at the online and offline alternatives when it comes to promoting the property, and then talk about the best ways to reach the inquiry and inspection targets for the buyers and or tenants.
- Best solutions for sale or lease – some leasing and or sale methods are better than others based on the property type and the time of year – understand the best ways forward and give the client a clear set of strategies to move ahead on that.
Simple ideas aren’t they? When used correctly in your property presentation, you can do a lot to direct and convert the thinking of the client in your property listing pitch. Practice your processes and you can elevate your listing results over time.
