Commercial Agents – Attracting the Right Tenant Enquiry for Better Leases

When it comes to leasing commercial property as an agent in this market, you need plenty of enquiry to convert into new property occupancy. In most cases, the enquiry will come from the local area and on that basis you should be constantly contacting all the local business owners and tenants.

The most common churn factors in commercial property leasing at the moment are:

  • Relocation for better rent,
  • More or less space,
  • Lower occupancy costs, or
  • Better improvements.

There is no doubt that when the commercial property sales market tends to slow, there is still a lot of opportunity in leasing. Business does not stop; it just changes and you need to see how you can serve those changes.

It pays to specialise in a property type and location so you can optimise the leasing opportunities you can put together. When you talk from a position of knowledge and information, landlords and tenants cannot avoid your services and offering. If you can prove and show that you really have got your hand on the market trends, then opportunity awaits.

Many commercial agents have made significant income and commissions from property leasing. It simply comes down to the following factors:

  1. The property type that you specialise in and what you know about that
  2. The size of property that you set as your minimum benchmark for leasing
  3. The types of tenants and landlords that you service
  4. Your knowledge of the local area with regard to rental types, lease types, and marketing strategies
  5. The supply and demand of property locally that can have impact on future enquiry
  6. The growth of the local business community that will create changes in property demand or usage
  7. The changes to the demographics of the surrounding population including population type, work requirements, spending patterns, and economic circumstances
  8. Changes to transport and services infrastructure that can impact property occupants and the way in which people access property for business purposes

So these factors will tell you what is happening in the local area and should be flagged to help you find the opportunity waiting to be tapped. Even when the sales market is slow or challenging, it pays to devote some of your time to leasing the better property types locally.

Keep in touch with the local business community so you know exactly what they are looking for and when they need it. An agent with this information is the agent of choice for business leaders and property investors today.

Commercial Agents – Resolve Your Weakest Links

In commercial real estate sales and leasing, many salespeople struggle for one reason or another in the early stages of their career. Over time the struggle can be frustrating and slow the progress that you need as an agent in creating listings and generating commission. When the property market is slow or challenging this can magnify the problem at a personal level.

To make personal progress in the industry, the fast track process involves identifying your weakest links or skills and then the solving them. As to how you solve these things, you have a variety of methods including, hiring an assistant, training yourself, practice, and directed focus.

Perfect Does Not Exist

None of us are perfect when it comes to sales and business, but over time we can improve things and resolve weaknesses. That is how ‘top agents’ achieve great success. They are great at self improvement.

Your weakest links are the things that hold you back in the industry. Lots of salespeople have one or more issues to deal with, so don’t feel that you are alone. However, the sooner that you understand the problems and deal with them, the better your career will be.

Common Weaknesses

In many cases with most salespeople those things of ‘weakness’ are typically one or more of the following:

  • Prospecting for new business
  • Database creation
  • Use of technology
  • Communication with clients
  • Presenting and Pitching for new business
  • Listing properties professionally and confidently
  • Market knowledge to use in your sales pitch and presentations
  • Negotiation skills with sellers, buyers or tenants as the case requires
  • Marketing systems and processes to promote property to the right target audiences

Some things on this list will drag your career backwards faster than you want or need. For example, the matter of prospecting is a big problem for many, and perhaps even avoided. Presenting and pitching for new business is also a big issue for some agents.

To improve your market share and your personal listings and commissions, it is best to have a serious look at your weakest links that are holding you back.

When you have defined your weakest links you can prioritise them to high and low level issues. If prospecting for new business, or presenting for listings are weakness issues for you, then they will do the most damage to your career, when left unaddressed.

So to move things ahead here, you should identify your weaknesses, be grateful that you understand them, and start to work on the methods of improvement and resolve. If you have a close friend that you can confide in, get them to help you with the process of identifying weakness and creating change.

Commercial Agents – 5 Keys to a Top Sales Pitch and Presentation

In commercial and retail real estate today, the clients that we help are looking for some real solutions with some unique and challenging property problems. The tough property market today requires top agents with high quality solutions.

Given that we are the commercial real estate specialists, we can provide those solutions that will shorten the client’s property pain and discomfort. Market yourself as the solutions specialist.

We know the market trends more than anyone else. We also have the ability to tap into the enquiry base from a broad base of other listings and recent property enquiries. The database that we have in our office today is a key component of attracting and winning listings. Use your database as leverage in the presentation process.

Competitive?

Just about every sales pitch and presentation that we do today will be competitive against a number of other agencies. The hour or so that we spend with the client will be the only time that we have to convince the client that we are the best agent in the local area to help them.

This then says that our sales pitch and the presentation has to be of high quality and extremely relevant. Top agents do this each and every time when chasing a listing to ensure that their property solution is the best available.

Here are five of the most important keys to wait top sales presentation with commercial and Retail Property.

  1. Inspect the property comprehensively beforehand. Take a significant number of photographs around the property that can be used as part of your presentation. A good strategy here is to let the digital photographs automatically scroll on your laptop as you talk about the property and your marketing solutions.
  2. Review all competing listings in the local area before the presentation. Understand how those properties are being marketed currently and what challenges they present to your new client with the new listing. The competing properties can be a source of real leverage when it comes to explaining your marketing solutions. Tell the client how their property is to be marketed in comparison to these other properties.
  3. Provide unique marketing strategies for every listing. The strategies should feed into your presentation. Provide examples of marketing solutions that have been successful in the past with the other properties. Include yourself as part of the solution process so the client can see that they should choose you as the agent to implement the program. When it comes to marketing listings today, specific marketing is far more successful than the all too commonly used generic approach. Real personal effort is required to market a property today.
  4. Tell stories of similar challenges in the local area. Stories are perhaps the most successful marketing tool that we have available. Clients tend to listen to stories and relate to the challenges much more effectively than a simple list of solutions and quotes detailed in your proposal.
  5. Show them a timeline as part of your presentation. This will show the client that you really do know how to move the marketing process ahead. The time line will also put them in the decision facility and the stages of the property solution. Every listing with its expected marketing and negotiation processes should have ten or so stages to move through.

Every sales pitch and presentation is an opportunity to be tapped. In a short period of time these five simple steps can position you more effectively for improved listing conversion. Develop the process and practice it regularly.