Your commercial real estate listing presentation should be refined and improved over time. Given that many listing opportunities are highly competitive, your listing pitch and presentation needs to be of the highest quality and of the greatest relevance. Most clients and prospects today will do their research as part of inviting you to a listing presentation. They may have a few other agents to assess in taking their property to the market.
Can you stand out as the agent of choice for the property and for the client? (NB – you can get our free broker course here)
The clients and the prospects today seeking assistance from a professional broker or agent with their property challenge, will always choose the right person based on displayed and perceived professionalism, marketing strategies, market coverage, trust, and local area knowledge. Each and every one of those factors needs to be fed into your listing presentation and sales pitch to the client. Give the client plenty of reasons to choose you as the best agent for their property challenge.
Track Results and Trends
If you are tracking your listing conversions from property presentations, you will soon know where you are achieving the results and for what reason. A top agent will convert more listings from their listing presentations; their averages will be higher. To achieve that they provide the right strategies matched to the client’s situation and the property type. Relevance is everything when it comes to winning a listing today. So how relevant are you when it comes to pitching for the property and attracting the interest of the client? Relevance takes a good degree of time and effort to develop. Each listing to be chased and converted through a presentation, will require deliberate research and study before the actual meeting or presentation occurs.
There are some specific strategies that you can work on and develop over time to improve your position in listing conversion; understand your strengths and weaknesses as a broker or agent and do something with them. It should be said that you never really stop learning in our industry. You should not stop practicing your professional skills, or investigating market conditions. There will be things to learn each and every day, no matter how long you have been in the industry.
How to Make Your Presentation Real and Relevant
So here are some ideas to help you design a relevant and real listing presentation for the client’s property and their current investment challenge:
- Location based research – before you undertake the listing presentation, research the local area to understand levels of vacancy, occupancy, pricing, and rentals. Look at the time on market factors that are impacting other listings nearby.
- Property awareness and improvements – inspect the property before the listing presentation, so that you understand the improvements, property configuration, investment cash flow, property presentation, and the location. Look for the things that are important to your campaign and property awareness. Look for the strengths that could build some momentum to your marketing campaign, and identify the weaknesses that will need to be resolved prior to the property reaching the market.
- Review competing properties – some local listings are likely to be directly comparable to the subject property that you are working on. Understand the factors of competition that the other listings will present, and explain to the client how you will move through those competitive factors with a point of difference.
- Set the target market – define the target market to the client so they know exactly how you will pull in the most relevant levels of enquiry for the location and the property.
- Refine the campaign – given the chosen target market, refine the promotional campaign so that you can send the right message in the right way to the right people. Stagger your campaign across a period of time to pull in the best levels of enquiry and generate the appropriate inspections of the listing with qualified people.
- Make solid recommendations – tell the client exactly how you will resolve their property challenge over time. Give them specific recommendations and some alternatives to work through. A few alternatives will help the client make clear choices and feel comfortable as they move to the point of putting their property on the market with you.
From these factors and strategies, you can design a professional commercial real estate listing presentation of the highest quality and most appropriate relevance. Using all of these strategies, focus on exclusivity as part of the listing conversion. Control the listing for a good period of time, and explain to the client why that will be important to the outcomes that they seek. You can and should be the strategic advantage to help the client resolve their property challenge. Make the right recommendations and provide timely solutions in a logical and direct way.