When it comes to a sales pitch in commercial property, it is essential to convey the total offering as effectively and as clearly as possible.
The sales pitch for the agent or broker will normally be for an appointment in property leasing, property sales, or property management services. It can also be part of the closing process on a contract or lease. Given that they are both quite different we will handle the listing process and sales pitch.
Other Agent Competition?
In this property market, a few real estate agents would normally be quoting on the same property listings. This then makes the sales pitch more important than ever before. You really only have one short opportunity to connect and convey the benefits of your services. You have about 3 to 5 minutes in the pitch to capture the attention of the other party. In that time it is really important to keep the conversation focused on the client and their property. Anything you want to say about your skills or relevance to the task should be left to the end or a later point in the presentation.
Essential Stages to Your Pitch
Here are some key elements or stages in the pitch process. They can be adjusted for the particular property and also the property location.
- Question the client or the prospect regards their expectations and factors that must be satisfied from the commercial property transaction. Without this information being provided at the very start, the sales pitch becomes far more difficult.
- Restate the client’s property facts and expectations in your own words and in your own way, so that the client can see your total understanding of the current situation. Normally that would include a summary of the property type, the property location, levels of improvements, timing of the decisions and required results.
- Market trends and outcomes with other properties should be explained so the client knows what activity is really out there.
- Competing properties should be identified that may have an impact on the overall outcome or process of the subject property marketing.
- Staff to be involved in the listing and marketing should be identified together with their relevant experience and skills for the property type.
- Given the benefits of the property, show the client the size of the relevant target market. Your database here will become a pitch tool so let them know just how you will tap into it and how many people you will be approaching regards the property.
- Marketing alternatives today are many and varied subject to the demands of the property and the target market. Have 2 or 3 marketing alternatives and budgets available for the client to consider. The client will then make their decision based on a balance of cost and effectiveness.
- Pricing or price ranges should be discussed so you both know that you are not on totally different ‘wavelengths’ when it comes to reaching a successful listing and sale solution.
- Methods of sale chosen or recommended for the property should be based on the local property market trends and the target market. The best method of sale recommended should be centered on known results from similar properties.
- Timing of sale will be based on seasonal factors, locational trends, and the target market that you are chasing.
- Key facts to be addressed by the client before the marketing commences should be made as recommendations with a suggested time frame for completion.
- The ideal stages to move the property listing through can be displayed on a Gantt chart. This helps the client see the way of progress and outcome.
- Always be prepared for the close and acceptance of your recommendations. Always have a completed listing appointment ready for the signature of the client.
These points can be dealt with in a different order and be added to as appropriate, subject to the prospective client, their property, and precinct activity.
Use your local transaction knowledge and property awareness to tell stories of relevance to the client. It is surprising just how stories of similar properties and clients will help the progress of your sales pitch.