When you are wanting to win a listing or a new client, make sure that your listing or commercial real estate services pitch is directly tailored to the client’s intelligence, market knowledge, property situation and property. As simple as the rule seems, so many agents take the ‘generic’ approach and thereby fail to lift their conversions.
Every client is different and should be investigated from every possible angle before you get to the stage of offering your solutions. It’s absolutely critical as a step in your business if you want to win your share of the new opportunities in the property market today.
Tailor Your Listing Approach for the Client
Think about these things:
- What does the client know about property in your location? – Sometimes clients have a limited or biased understanding about local property. That can be because they do not invest in property regularly or they have been operating with one single property for a period of time. Asking questions here will help you find out the real facts.
- What does the client think about the local property market? – Most clients have limited understanding of the real market conditions including prices, rents, time on market, enquiry rates, and competing listings. You may have a few things to explain about current market conditions; you will need comparable property evidence to ‘show and tell’.
- What are the critical factors to be satisfied for the client? – Some listings will have pressures of timing to be worked through. Determine what critical factors must be satisfied for the client and in what time frame. It is helpful if you can provide a timeline in the form of a graph for the client. A Gantt chart is perfect for the process.
- What are the strengths and weaknesses of the property? – Every property will have a few things to work through and resolve. There will also be some strengths of the property that can be merged into your marketing. Define the property strengths and weaknesses and then talk the client through what you will do in each case.
- How will the property market respond to the property? – Current market conditions will influence enquiry and inspections. If you are regularly tracking market conditions then you will understand how every listing should be adjusted. You should know exactly how the inquiry can be improved when it comes to each property type and each location.
- What is the target market? – Show the client that you totally understand the target market for their property and how to tap into that target market. Show the client the exact strategies that you will use.
- What is the ‘best property outcome’ for the client? – A client will tell you the ideal factors or solutions that they are targeting if you ask the right questions; question the client comprehensively to understand the best outcome that they are seeking and the timing of the process. You will then need to determine if those factors are realistic and then do what you can in marketing and promotion to work towards a positive result.
- What other properties and agents will you be competing with? – Do a check through the local area to see what other properties are on the internet currently or in the local newspapers; understand how they will compete with your listing.
So have you got all your answers ready to work with the client? Have you reviewed the property comprehensively ready for the pitch or the listing process? When you know about these things, you have the basis of a high quality listing presentation to a client.