In commercial real estate, how many salespeople do you find that really do not listen to the prospect, or gear their sales pitch to something that is not matched to the client? Unfortunately the problem is all too common. Listening is one of the great skills of top agents today.
Everything we do in commercial property sales, leasing, and property management must be closely aligned to the client in many ways; if we cannot do that then the client will not either understand the big picture or accept any of our recommendations.
In the commercial property industry today there are many variables that happen on a daily and weekly basis; all of them can impact a property listing or a property performance.
Here are some of the things that regularly change in the industry:
- The time on market for property listings in the local area
- The best methods of sale or lease in the prevailing market conditions
- The availability of buyers or tenants to inspect and look at property listings
- The delay factors for finance and or due diligence in a property transaction
- The competing properties on the market today in close proximity to a listed property
So if these are the variables, it is tempting to just do a ‘dump and burn’ of information with the client when we pitch or present. We expect them to listen to us! Wouldn’t it be better to listen to them first?
Asking the right questions will allow you to listen to the client and identify their focus and challenges. All the clients that we work with have unique challenges with their property. Nothing is similar in and with any property. Questions are the key to align your solutions and services to the property owner or property investor.
Here is a simple strategy of questions that can apply to the client connection process before you get into the solutions and facts that you believe will help the client.
- The Past – What has happened in the past with the property to get it to where it is today?
- The Present – Why does the client need to do something today to move the property or solve a problem?
- The Future – Where does the client want to be or go in an ‘ideal world’ and when they get the outcome that they seek with the property?
With these questions you will find the answers that will help you match your sales pitch and property solutions to the client. Ask the right questions and start listening. When they give you information you want, take notes and refer to the notes with the importance that they deserve.
When you fully understand the facts, you can align your property information and the trends of the market to the client and the way they are thinking. In this way you can improve your conversion rates in any sales pitch or presentation. Its common sense really.
Do you need more tips to help your commercial real estate activities as an agent or realtor? You can get them right here at our website.