There are plenty of commercial real estate brokerage listings to locate and work with. Focus your prospecting efforts within a defined location and property type. Don’t spread yourself too far when it comes to prospecting activities and direct marketing. It is far easier to find you listings when you focus within a zone and location. In a methodical and direct way, you can work through the list of local business owners and or the property owners in each case.
What is the biggest challenge?
The biggest challenge in the commercial real estate market today is in finding the listings and converting them competitively. When it comes to presenting and pitching your services for any potential listing, you will likely have plenty of competition from the other local agents and brokers. Many clients deliberately seek property presentations and proposals from three or four local agents or brokers; to win the listing you need to be professionally different and dominate your market share.
The clients in today’s commercial real estate market understand when they are talking to a comprehensively skilled and successful local real estate broker. Help your clients see that you are the best solution for marketing and solving their property challenge.
Strategies for listings
Consider your strategies around the following questions:
- Why should any client list their property with you? It can be a difficult question for many brokers and agents. Understand the question from your perspective. Can you answer the question? Don’t give a generic answer like professional service or property knowledge. Your points of difference should be very unique and special in every respect; don’t be the same as every other agent or broker in your location. Understand the factors of market penetration and method of promotion that you bring to your clients today. Build your skills around particular points of marketing and negotiation difference that are not replicated with other brokers.
- How can you make your clients properties stand out in the local market place of other comparable listings? Take the time to design a very specific and direct marketing campaign for all of your clients and present your strategies in exchange for an exclusive listing. Understanding that you have a fair degree of competition with other listings, how would you take your clients property today and comprehensively promoted it to the target audience?
- Be clear and very specific when working with your clients and their properties. In any property presentation or recommendation, be quite clear and specific when it comes to solving the property challenge. Whilst you will need a degree of luck when it comes to completing any sale or lease activity, most of the promotion and the momentum of the listing will be driven from a strategy that you recommend and activate. How will you find the buyers or the tenants for the particular listing? Provide a timeline for your clients so that you can show them exactly how you will tap into the local area in a competitive and direct way.
It is important that you assume you can find the right listings and solve the most complex of property challenges for your clients. There is always a method of resolve that you can work towards for any property and any client.
Gather the right information about the property, the location, the client, and the competition. Balance of all of those factors into a formula of professional commercial real estate marketing. I go back to the point that you can provide a professional timeline to the process (in visual form) so that the client can clearly understand where things will head under your control and how those things will occur.
Assume that you can win the business when you provide and present any property solution to any client today. Confidence is a key factor when it comes to winning the listing and converting the thinking of each and every client.