How to Beat Your Biggest Competitors in Commercial Real Estate Brokerage
In commercial real estate today the competition can be fierce. It is not unusual for a high quality property to be put through a tendering process with a number of brokerages and tenderers pitching for the same listing. Property owners and corporate clients like to know that they have ‘explored’ market conditions and weighed up the alternatives. The final choice of agent and marketing campaign has to be their choice; our job is to help them see the best alternatives.
Given that the best listings create the most interest and thereby help you grow your real estate business, it should be a priority to build a presentational process that is one of the finest in your location.
Almost all the clients that we deal with want the best agent with the most comprehensive market share for the property type. Those simple facts can help you build your pitch and presentation process.
So given all of this, what should be the focus of your listing presentation? Try some of these for starters:
- Showing the client that you really do understand their needs in the property sale or lease
- Helping the client see the competition and other listings that they will be up against
- Making it easy for them to move ahead with some solid listing choices and proven marketing alternatives that are known to create good enquiry
- Choosing the best listing alternatives that you know will shorten the time on market and help bring about the best sale price or lease rent.
In an ideal world, these 4 things are really want the client wants when it comes to shifting their property. Most property listings have a few problems to be handled and timing issues to be worked with.
I am a great believer of a Gantt Chart process to show the client the way ahead from a business perspective; I have used the display process very effectively to win business in all types of property situations. You can use the Gantt chart very effectively in a property presentation or sales pitch to show the client how the stages of property marketing and promotion will come together for them. The visual approach works well.
To beat your competitors in a listing opportunity you simply have to be the best choice of agent for your location and property type; if you use and focus on the 4 points mentioned above, the client cannot fail to listen to you and see the logic of your recommendations. Confidence and local market knowledge can carry you through.
So you are the local real estate agent and property specialist? For you to commit to a listing given the items mentioned, you will need an exclusive listing to move ahead effectively. There is no point in working intensely on a property and client requirement unless you have that exclusive listing ‘locked in’ for a solid period of time. Most exclusive listings should be for a minimum of 90 days in commercial real estate; some properties will require a longer marketing campaign. Know what you need to get a result and ask for it as part of your listing pitch.
Build your listing pitch and presentation along these lines and you will find better conversions in new business and quality properties. That’s what top real estate agents do all the time.
