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Commercial Real Estate Listing Techniques – How to Make Your Property Proposal Better Than Most
When you are invited by the owner of a commercial property to submit a proposal to sell it, you may only have that one opportunity to convey the message of the proposal and your marketing strategy. Unfortunately most vendor calls for sales proposals are directed to multiple agents for the single property, so the message in the document needs to be clear and the result of the conversion is critical.
Before starting any proposal, ask yourself this question. ‘What makes me different in marketing this property?’ If you don’t have a clear answer then there is a big problem.
Too many agents enter a competitive real estate proposition situation by focusing on one or more of the following:
- Discounted sales commissions
- Discounted commission
- Advertising discounted or paid for by the agent
- Inflated budget
While the client may initially think some of this is attractive, it does little to sell the property and can even be counterproductive. Why prostitute yourself? If you are the best real estate agent in your area, show it and make sure the message is clear in your sales pitch.
An excellent property sale proposal is strategic and aimed at the result that the customer is looking for. Everything in your document should show your domain and your understanding of the task at hand. To be the best agent to do the job, your proposal needs to illustrate that.
So what are the rules to adopt here? In essence, the proposal must relate to the property and the customer in all respects. The following will help you with the blueprint for a great sales listing proposal.
- A statement detailing the location and characteristics of the property. The market attractiveness of the property is also part of this openness to your proposal. Copies of title deeds, plans, photos, lease schedules, and liens should also be displayed here.
- A summary of the client’s requirements to sell the property should be made. Make sure this is clear enough so the client knows you understand the brief perfectly.
- A list of the customer concerns and questions you’ve identified is very helpful at this point. As a direct follow-up to that, you can provide answers for the customer. This shows that you are really aligned with the customer’s needs.
- An overview of the real estate market and its current trends is essential. As part of this, you should then position the subject property in the market you have described and then comment on competitor properties impacting property marketing today.
- Clearly define the target market that you consider relevant for the promotion of the property. Then explain how relevant the property is to that target market and the characteristics of the property that will help you in the marketing process.
- The recommendations relating to the sales methods become the natural flow referred to in point 4 above. You must justify the choice of the sales method. Also provide the client with some commentary on the existing “time-to-market factors” at that time and the success factors of the chosen sales method. Give the customer clear reassurance that you really know the sales method you select is the best.
- Use the timelines as an illustration of where you would like to go with this property sale promotion. Illustrations are so much better than words. Gantt charts are great for this purpose.
- At this stage it is best to deliver an innovative marketing strategy that complements the chosen sales method and attracts the defined target market. The promotional strategy offered should have 2 or 3 marketing alternatives that provide the customer with a budget selection. Paid vendor advertising is the rule and not the exception in listing a commercial property. Follow this rule.
- Ad copies are useful for giving the customer an idea of what the promotional material will look like and how it will be structured.
- A summary of the fees and costs for making the sale should be simple and clear. While costs are always important, if you’ve done your homework in the earlier parts of your proposal, the fees and costs will be less critical to the client.
All of the above points are property and customer centric. There is very little talk about the agency and what you bring to the property for the client. Only after all the above points have been handled should you move on to matters of agency promotion and relevance.
Because listing commercial real estate for sale or lease is a competitive process, it is important that written applications for landlords are submitted promptly. The company that presents its pitch to the owners first is likely to receive the highest consideration. However, the listing agreement or contract is an important document and must be carefully prepared to ensure that all negotiated agreements with landlords have been included.
You should, if possible, make the presentation in person so that you can “walk” the landlords through the paperwork and clarify any issues right away. Get exclusive listings if possible, but whatever the situation, make sure the paper is accurate, well presented, and that your oral presentation complements it.
If you think you are the best real estate agent on the market to handle the sale of the property, then your proposal must demonstrate this very clearly.
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