In commercial real estate brokerage, you can improve your listing conversions substantially if you get organized. The significant advantage here is that many agents are not good at that and have a random approach to listings or presentations. Hence, it leaves things wide open for agents who can control it all. Control creates leverage and better results.
It is known that clients and prospects want solutions for their property challenges. Understanding those property challenges and then providing the strategies to move ahead will impact your chances of winning the listing. It is a basic rule, yet many agents do not handle it well. However, it is an opportunity when you use the issue correctly.
Know Your Relevance to Clients
Take a step back and think about who you are and what you do. Why would someone use your services over that of other agents? When you fully understand the question, you can effectively position yourself to win more new business, clients, and listings. Essentially you are a real estate solution provider.
Some agents think that they win listings just because of one or more of the following:
- They are a good agent, and they have been in the area for a long time
- They know what they are doing from a base of experience
- They have sold or leased other properties in the area
- They have plenty of testimonials from clients
- They have good social media messages and stories
- They have plenty of people in their database
These facts and issues are helpful, but they are not the real motivators for a client when listing a property for sale or lease. Don’t base your real estate business growth solely on these issues; take a new approach to grow your market share and listing potential.
Your Unique Brokerage Approach
Here is a fact to fully appreciate and utilize as an agent. Clients and prospects generally list their property with an agent that shows unique and relevant listing solutions to a client’s property requirement or challenge. In doing so, the agent has displayed the appropriate confidence, strategies, and timelines to support the process of selling, leasing, or buying.
The client wants to make the right choice of agent when listing their property. Expect that most clients and prospects in real estate will talk to a few agents when it comes to moving ahead on a property opportunity or challenge. Here are some ideas to help you establish a listing organization set up in your real estate business.
- ILLUSTRATE: Take photographs and use them in your discussions. The visual approach when talking to the client is compelling. You can put photos of the property and the surrounds or other competing properties in a ‘cloud based’ folder that you can access on your tablet computer as you talk to the client. Photos of the client’s property always lift the attention levels in a property discussion. Again, don’t use a small screen for the process. Instead, go bigger on the ‘impact levels’ using a larger screen tablet computer.
- LEGAL FACTS: Get the title searches and have them ready to talk about. From the title searches, you can understand and work with associated issues such as registered documents, easements, rights of way, or other encumbrances. You can also get plans of the area and or property that may help your discussions.
- APPOINTMENT FORMS: Have your legal and lawful appointment to act forms prepared and ready. You will know when the client is prepared to sign the listing appointment, so have it ready to use. Solve all the property listing issues beforehand, so the listing form is completed and ready. Timing is essential when it comes to getting a listing engagement.
- COMPARISONS: Review all the comparable properties in the local area and take photos of the relevant ones. That process and those photos then help you show the client how the market is trending and what other properties will be impacting their property activities or marketing. For example, with the most comparable properties, you will need to talk about time on the market, promotional strategies, and differences in each property regarding attraction and pricing or rental.
- LOCAL HISTORY: Do a historical analysis of the property and the precinct. That analysis will help you with supply, demand, pricing, renting, and investment trends. That history gathering process is factual and can support your listing approach, marketing solutions, and presentation.
- PERSPECTIVES: Provide deep recommendations and strategies that you can adopt regards the best method of sale or lease. Show the client how your ideas are better than the ‘random approach’ to marketing those other agents could be using. That ‘show and tell’ process will give you leverage in converting a listing. Talk about why a particular listing process is better and how it will work for the client.
You can see how important an agent listing approach is for today in commercial real estate brokerage from all these things. Use these ideas to shape your listing organization and presentation approach. They will help you capture the client’s attention and show that you are the best agent for the job at hand.