Sunday, June 10, 2012

Sell the Commercial Property Opportunity to Close More Deals

Office buildings in city
Identify opportunities in every listing

When you work in a commercial real estate agency, you need to see and sell the opportunities that each listing presents to the prospects that may be undertaking an inspection.

What is it that you are selling then?  You are selling a specific and identified opportunity given the needs of the property buyer or tenant.

This then says that you should be open to the requirements and needs of the prospect.  The prospects that we deal with are usually business owners, property investors, or property developers.

What can the property do for them?  Usually one or more of the following factors will be part of that process:

  • Making money is usually high on the agenda but that will come in various forms such as the opportunity to increase income, the change that the property can experience, the growth of the tenancy mix, and any money that can be saved.  You need to be sensitive to these factors and identify the right ones that work for the prospect.
  • In the case of a business owner it is possible that the property could save them considerable time and effort in producing their goods and services.  Ask questions as you walk through the property to see if this is the case and how it could work for them.
  • The identity of the business could be enhanced through relocating to the property.  There could be a significant boost in status and identity in the eyes of their customers.
  • A property relocation or purchase could give the business proprietor more flexibility in supplying goods to the end market.  There could also be factors of transport improvement, the sourcing of resources', interaction with customers, and stability of ongoing property usage.
  • The improvements in the property may be particularly suitable for the business type.  The improvements could include floor layout, car parking, customer services, services and amenities, deliveries and storage, warehousing, and interaction between the separate divisions of the business.

As the specialist commercial property agent, be open to the ideas and opportunities that can apply when you take your prospects through the properties you have listed.  Take time to understand the real requirements of each and every prospect.