Your sales presentation is a critical part of your commercial real estate business. It follows closely behind the requirement of prospecting every day. If you put the two skills together you have the foundation of a good career in commercial real estate brokerage.
Most brokers and agents have plenty of scope for improvement when it comes to both prospecting and presenting. Practice and personal improvement will help greatly to escalate results with each.
Consider these questions:
- So what does a top sales presentation or pitch look like in commercial real estate?
- How will your presentation rank against other competitors in the local area?
- What can you say and do in your presentation that will attract the attention of the client?
- What is your conversion rate with pitching for the business?
When you have some answers to the questions, you have some ways of understanding methods of improvement and better conversions.
It has been said that a typical broker or agent will convert about 1/3rd of their presentations quite easily. They will lose another 1/3rd, and the remaining 1/3rd will be ‘up for grabs’ for the brokers and agents that do a top presentation that is relevant to the client and the property. That is why specialisation is so important in our industry.
In commercial brokerage we do tend to look at ‘conversions’ in the key elements of the business at a global and personal level. That then gives us indicators where we can see trends and shifts in personal performance. Some salespeople can be helped and improved, whilst others cannot.
Here are some ideas to help you with your sales pitch or presentation:
- Understand the client and the property comprehensively before you consider a proposal or marketing strategy for presentation.
- Review the market conditions and the competing properties to see what impact they will have on your listing.
- Controlled listings with vendor paid marketing funds should be the ‘norm’ in any quality property listing. I go back to my favourite quote, that ‘open listings are a waste of time’.
- Combine local market information into visual parts of your pitch, and do so with graphs, photographs, statistics, market evidence, and enquiry trends.
- Your marketing recommendations should be matched to the property, the target market, and your specialised skills. Show the client exactly how you will bring a difference to the marketing campaign.
- Tell stories of relevance and success in the local area. Your client will appreciate knowing that they are not alone when it comes to property challenges.
- Offer the client some solid alternatives to consider in property promotion and give them valuable tips and ideas as to what will work better in today’s market.
- Set your competitors up for ‘presentational failure’ by raising key questions and concepts in the mind of the client.
So there are some good things that you can do to improve your sales pitch and presentation in commercial real estate brokerage today. Seek to improve your skills and relevance through regular practice. There are lots of listings and clients out there to be converted.