When you do a listing presentation in commercial or retail property, it pays to have a system covering the property type and location. Comprehensive information and local market knowledge will always help you with the correct listing momentum and potentially close on an offer. Preparation is the key to getting a result.
Customer service solutions in a number of industries have raised the bar on the expectations of the prospects and clients that we work with. Top service, regular feedback, and professional negotiations are now all part of the commercial and retail real estate process.
Defining Your Listing Strategy
Here are some tips to help with your listing presentation strategy:
- Take plenty of digital photographs in and around the property as part of the initial listing process. Those photographs can be used in a laptop slide show display with qualified prospects.
- Each property given its particular location will feature more effectively in an inspection at a certain time of day. Be aware of locational issues that could frustrate the inspection and try to avoid those problems. Examples could be excessive passing traffic, car parking, noise from neighbouring properties, weather conditions, and environmental factors.
- Create a selection of presentational brochures and informational tools to give the inspecting party at the property. Some of that information may be confidential, and on that basis, you should exchange a confidentiality agreement with the inspecting party before you get to the property.
- If the property contains tenants and particularly businesses, you will need to be sensitive to moving in and around the property as part of the property briefing with the prospect. The tenant’s consent to inspections will need to be obtained as part of the preparation process when setting up the marketing of the property. The landlord should help you with that tenant connection and communication.
- Every property will have strengths and weaknesses to be addressed. Local market knowledge and up to date property information will help you talk through the challenges and weaknesses of the property. Preparation is the key. Top agents are always prepared when it comes to property marketing.
- Check out the local rules and regulations as they apply to the subject property. The same should be said regards the title and property ownership. Look for any easements, encumbrances, and rights of way that could have an impact on property ownership and or occupancy. Any hurdles in the property inspection should be removed as part of the listing process. Third party information and or supporting documentation may be required to help you with that.
- Early in the stages of listing the property, visit the property yourself to move through the premises and decide the best ways to show the property to business people and property investors. That will then allow you to remove inspection frustrations that could occur at a later time and help you focus on closing any offer as you inspect the premises with qualified people.
A good listing presentation, marketing strategy, and inspection process will be the result of preparation. If you work as part of a larger sales or leasing team, make sure that all team members are fully briefed regards the listing and the inspection process. It is productive to create an inspection strategy document to be retained in the listing folder and be used when it comes to taking people through the property.