In commercial real estate sales and leasing, market share is now won or lost on speed of response, quality of service, results on offer, and the value you can bring to the client. Get this right and more business will be yours.
The client that wants you to discount your fees, elevate the price, advertise the property at your office cost, and take on an open listing, is not the high quality client that you want. They have all the wrong motivators. They think that you are desperate for a listing and they use that to ‘close you’. Hey who is the professional salesperson here?
Imprint this on your mind. Quality listings in commercial real estate come only from quality clients that understand the property game and take on their responsibility of providing a marketable property. This means for you: Fair commissions Vendor paid advertising Sole or exclusive agency periods in excess of 90 days Fair market prices or rents Open and honest communication about the property
Remember that all clients have property problems and that you should be the ‘pain relief’ that they need. To do this your focus should be specific to the property and to tap into: The right target market The right mode of marketing The right method of sale The right time of sale The right challenges of the property that need resolve to achieve a sale The right contract terms that support the client in moving to settlement The right market positioning that excites enquiry
All of these things can be quite special to attracting new business for that particular property. Your proposal to the client should be designed around them. Never design your proposal around how successful your office is and how long you have been in the local area. Clients and customers today want specifics that help them, and generic proposals are a waste of your time and paper. Clients want to know that you understand their property need and challenge; that is the secret to a great property proposal in commercial real estate.
To market a property well you should answer all these questions: Who are the right people for the job of marketing? What is the right plan to reach the target market? What are the right tools to use in the sale process? What are the key issues the client is concerned about as they move to sale?
When you have these questions well answered you have a proposal that the client cannot overlook, and the competition in your local area will not be relevant to the outcome. You will be the agent of choice.
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