In commercial real estate brokerage you will be pitching your services in many different ways and for different reasons. The important thing is that you win your fair share (or better) of the presentations that you make.
The competition for quality listings is generally high most of the time unless you have the ‘inside running’ and the established relationship with the client or decision maker. Quality listings always create better levels of enquiry, and for that reason your prospecting focus should be on quality listings.
Here are some preparation ideas to help you refine and improve your presentation and sales pitch for listings:
- Before you present your ideas and recommendations you must understand the property and the client. That will mean visiting the property and having a very good look around. Check out the improvements and the strengths and weaknesses of the asset or the land. Why would someone want to buy it? Until you can answer that question you cannot determine the target audience.
- Review the overall precinct and location for other properties that could be for sale or rent currently, and that may have an impact on your potential marketing campaign. With each of those properties understand what is working and what is not. You don’t want to replicate problems.
- Understand where you will be pitching and presenting to the client. That place or location will have a lot to do with the tools that you use and the ideas that you present. You may be using written material, a laptop, and photographs of other properties. Plan the use of your material for the location and ensure that it is ready for the process.
- Choose the people to be involved in the presentation. With complex and larger properties, this process is critical. You may have a team leader and then you will have key people to support specialised information and feedback.
Here are some of those stages for the final moment that you are connecting with the client:
- Introduce yourself and your team to the client and associated personnel.
- Explain what you are to do and how that will be done.
- Define the client and their requirements.
- Detail the property and the improvements as you have inspected. Be sensitive to the strengths and weaknesses of the property and merge some of that into your property description.
- Explain the market conditions relevant to the location and the property. Include in that the prevailing rates and types of enquiry that comes in to your office on a daily and weekly basis.
- Show the client what is happening in the market today and how that will have an impact on their need to sell or lease.
- Clarify the target market that will be attracted to the property and why that is to be so.
- Provide marketing recommendations that relate to how you can take the client and the property forward. Provide the client with 3 alternatives to marketing so they have some choices. Remember that you will want an exclusive listing and vendor paid funds to support the campaign and your efforts.
- Choose the best method of sale or lease to help the client attract the best levels of enquiry.
- Make a clear recommendation to the client from the summary of the situation.
- Ask questions of the client. Clarify any key facts and recap on important facts.
- Ask for the listing commitment from the client.
Presenting and pitching for a listing today should be well planned and considered. Every client and property will have unique attributes to merge into your recommendations. Do not be generic in any presentation; the client will sense your indifference and lack of speciality.