When it comes to your career in commercial real estate, you will frequently be presenting and pitching for potential sales and leasing business. It could also be the case that you are a property manager and will need to pitch for the commercial or retail property management appointment.
Either way, your presentation strategy needs to be ‘spot on’ when it comes to the current market conditions and the attributes of the potential property.
The presentation approach today needs to be quite specific to the property and the property market. Most listing opportunities will be taken to the open tendering process with a number of agents involved and presenting their ideas for the new business. How can you be ‘better than the rest’?
Discounts Are NOT Needed Please!
When this happens, it is not (should not be) a matter of providing discounts as your point of difference, but it is a matter of providing real solutions to help the client through the current property pressure. Knowledge and confidence are the keys to help you here.
Here are some tips to help you engage the client in the property presentation and sales pitch.
- From the outset, it is essential to establish some form of agreement or awareness with the client regards current market conditions and the position of the subject property within the market. This is a great opportunity to show your experience and relevance when it comes to the property type. Talk about the client’s situation from a knowledge perspective and a strategic approach to the resolving of the property challenge for the client. Tell the client about other current listings that are on the market at the moment and why you believe they will or will not be successful. Tell the client how their property is different and what you are going to do about it.
- Every property will have a distinct set of attributes that will help you build the marketing campaign and the right focus for property inspections. All of these factors will involve the target market. Exactly where does the property sit when it comes to attracting a target audience and focusing the property inspection? How will you take people through the property, and what will you show them as part of the marketing process? Have your ideas and answers set so you can tell the client about your real and relevant approach.
- Organize your presentational material to a system or order. Prepare your presentation or pitch based on that material and have all of the supporting evidence at your fingertips to use as required. Comparable market evidence, the trends of current property enquiry, and information relating to nearby listings will help you give substance to your property presentation.
- A successful presentation will usually involve unique solutions and ideas from a marketing perspective. In today’s property market, every marketing initiative should be specific to the property and involve specific personal efforts on your part. Get involved with your campaigns, and take your property detail to all of the local businesses. Every quality listing is a great excuse to talk to other property owners and local business identities. In this way, you can grow your market intelligence and feedback.
- Show the client how they will benefit from your unique approach to the marketing effort. Providing a graphical display of the program and the campaign. This is best done through a Pert or a Gantt graphing process. The graphing system can show the separate stages of the marketing campaign and how you will get involved with the local business community and property investors. From that process, you can add a specific method of reporting back to your client three or four times a week. The object of client involvement is to keep them well informed and condition them for the potential negotiation if and when it occurs.
A good property presentation is a strategic process. It is planned in every respect and will involve your best people working as part of a team effort. Top agents do this all the time, so create your sales pitch system and refine it to achieve the best results in all of your property presentations.