In commercial real estate brokerage, you are the ‘product’ in many respects. Forget about the property type and the price. It’s all about the value and the relevance that you bring to your clients and prospects. They have to see that you really are the ‘real deal’ when it comes to resolving their property pain.
How many agents or brokers do you know that would take on an ‘open’ listing, and in most cases list most of their property listings that way? I know lots of agents like that. They are relatively ‘hopeless’ when it comes to selling themselves and their skills. They approach most listing pitches and presentations in a very ‘generic’ way, with little or no preparation. The ‘generic approach’ breeds ‘open listings’. The client has no reason to give anything but an open listing; they have to keep all of their options open to the activities in the market.
So the message here is quite clear. When it comes to pitching for a listing, you are the product first and foremost. Your skill in listing, marketing, inspecting, and negotiation has to be the major point of difference. The client should see you as the best alternative to taking their property need forward.
So what should you do to focus this approach? In most cases you should get to the clients points of concerns. Ask good questions to do that. Match your recommendations around the client and the market. Provide innovative ideas and solutions to the complex property situation. You have plenty of tools and strategies to use; it’s just a matter of helping the client see those points. Make it easy for them to move ahead.
Here are some ideas to help you with this:
- Show the client how you have resolved some similar complex property situations in the past.
- Use testimonials from other listings to support your knowledge and skills.
- Define the target market specifically so the marketing effort will have direct focus and tap into the right buyers or tenants as the case may be.
- Have some stories relating to the property type and the market that will relate to the clients situation today.
- Think outside the square when it comes to connecting with the market. Assuming the client gives you an exclusive listing, put yourself into the marketing process and get involved in talking to the local property owners and the business community. Door knocking and cold calling will be part of that.
- Create a short list of buyers or tenants as the case may be so you can tell the client that you already have some people to show the property to.
So let’s go back to the main point here. You are the product before you talk about the property and the market. Give the client real reasons why they should use you above others in the industry today. Top agents are great at ‘packaging’ themselves into the clients property needs.