Sunday, June 3, 2012

Commercial Real Estate Client Connection Tips

In commercial real estate the client will look for your weaknesses in a sales pitch or presentation, and assess your relevance to them.  On that basis, any weaknesses that you may have as a local agent should be seen and dealt with before you connect with the client.  They will ask, so you need to have some comments ready.  Here are some tips from our Newsletter.

Some weaknesses may be factual and difficult to change.  

For example:

  • You are new to the area
  • You do not have great market share
  • You are not the market leader when it comes to the property type
  • You do not have many staff to help with the project
  • You are not a specialist in the property type

Some of these issues are a real challenge and may preclude you from the listing.  If you do not have what the listing requires, then it pays to walk away from the listing.  There is no advantage in being known as the agent that could not move a property or the agent that made some big errors in the marketing of the property.

So, let’s say that you really want a particular property and that your shortcomings are not deal breakers.  Here are some tips to help the client connection strategy as you present and pitch for new business.

  1. Remove the pressure of the situation by being an advisor to the client in how they can move through their property challenge.
  2. Show them the trends of the local market and the competing properties nearby so they know that they are not the only ones with a challenge at the moment.
  3. Use other listings as an example of what should not be done and then add your variation or strategy to move above the issue to a level of success.
  4. Offer to help the client with the ‘dirty work’ or the ‘tough issues’ that have to be dealt with in regards to the property. 
  5. Show the client the process of moving forward by giving them a visual approach to progress such as a Pert or Gantt graph.  Visual representation really does work when it comes to gaining their attention.

 Identify the biggest challenges for the client and ask them about their greatest concerns.  You may be very surprised as to just what is holding them back or troubling them.  You can use this information as a positioning strategy in helping them accept the proposal or sales pitch.

The conversion of new business from your meeting with the client is easier to obtain when you have planned your presentation and worked through the challenges that they see will be an issue for them.

The presentation to a client is about them, not about you.   Talk to the client about how you can help and solve their problems.  You are a solution provider; that is what a top agent is.

Need some more tips for Commercial Real Estate Agents?  Please join our Newsletter here or visit our website here.