Friday, July 26, 2013

Create Trust in Prospecting Commercial Real Estate Leads

man smiling
Build trust in your prospecting processes.

When you are prospecting for new commercial real estate clients and opportunities, you must control the process, and the only way to do that is through well considered and directed questions.  The quality of your questions will help you maintain the focus of the conversation.  Some conversations will go nowhere, but those that do can be directed by the flow of your questions.

There are many things to talk about in commercial real estate today.  Your questions simply need to align to the current market and the client’s current property situation.  When you do this correctly, it helps you convert more meetings or listing opportunities.

As part of your regular weekly sales team meeting, spend half an hour focusing on practising relevant scripts and dialogues.  All members of the team can share their prospecting experiences and challenges from the last week.  On that basis the role playing and dialogue process can be geared to the current challenges of the market today.

Here are some questions to merge into your prospecting dialogue.  You can add to these questions the necessary the local property market information:

1. What caught your eye when you looked at the property?
2. What will be the ideal time frame to you given these property requirements?
3. When it comes to finding the right location, what will be the ‘must have’ requirements?
4. What made you give us a call on this property today?
5. What do you see as the most important issues to you in changing property?
6. If I could solve this property challenge today, what would the ideal outcome look like?
7. What to you are the 3 top features of this commercial property and how can you use them?

Notice how all of these issues are ‘open ended questions’?  You can get more traction in the conversation with the information gleaned.  You can also drill down on better information if needed.  One question can lead to three or four more so you really understand how they see the final property decision.

Consider the property market today in your town or city.  What things will have an impact and will be of primary importance to tenants and buyers.  You know the location better than most tenants and buyers so establish a list of key concepts and questions that you can use in a prospecting conversation.  The quality of the conversation will help you convert the deal.  Pitching is not normally part of a prospecting strategy.  Conversational ‘trust’ will take you further than anything else.

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