When you list a commercial property for sale or lease, there are a series of common questions that evolve from the process. Clients are looking for the easiest way to get the best results in selling or leasing the property today. The way to win the listing is through providing the best information, listing strategies, and market knowledge. You have to win the trust of the client and to do that you should be able to answer their questions with confidence and relevance.
Whilst this fact may seem fundamental, it is surprising how many agents overlook or underperform in the listing pitch and presentation process. Given that each and every listing presentation is highly competitive, you may only have a small amount of time with the client to convince them that you are the best agent locally to help them.
To help the entire listing process and your conversions of new business, you can prepare for the common questions that evolve out of most presentations. You can have prepared answers that are superior to the other agents competing against you. Here are some common questions to illustrate this point.
- What is the target market for the property and how will you be reaching or attracting it?
- How much will the marketing of the property cost and why should I spend money when you get the large commission?
- What is the best price or rental for the property locally?
- What other properties have you sold or leased of this type recently?
- How many people do you have on your books currently looking for this type of property?
- What discounts can you provide to me in marketing and commission if I list with your agency?
- Why should I do an exclusive agency with you when I can openly list with a number of local agents?
- What is the best method of sale given the property and the improvements that you have inspected?
- How can I fix the tenancy mix so that it becomes more attractive in the selling process for the property in the future?
- How long will it take to sell or lease the property?
- What do you know about this property type and its location?
- What makes your agency stand out as the best agent to promote and market the property?
- Exactly what do you know about this property type and the way to approach the marketing process?
- Who have you worked with recently and can I see some testimonials?
This can be a very daunting list of questions to address if you are unprepared. Some clients in commercial real estate are highly experienced business people and will require significant convincing if they are to sign the listing and work with you. Preparation in the pitch and presentation process will always help you convert more listings with the right clients.
It should be said that any client looking for discounts in the sale, leasing, or listing process, is really not the client that you want for the long term and is likely to be more trouble than they are worth.