When you look at the most successful commercial real estate brokers in our industry, they will normally be the ones who will typically have the greatest amount of solid listings on an ongoing basis. It would be relatively easy to have 40 listings, for example, and then systematize the marketing of them, and have other brokers then submit their offers on your listings. But trying to run around with 40 buyers or tenants at the same time, would drive you nuts!
That’s why focusing on getting listings that are priced to move within the listing period, is normally a better, more productive use of your time.
One exception to this would be top tenant rep brokers who have mastered their craft, and who regularly close large transactions, while having signed exclusive right to represent agreements in place with their clients. These brokers can definitely earn and get paid a lot of money!
But if you’re a broker who’s mainly interested in getting more listings, how are you doing at successfully landing more of them? And are you happy with the percentage of the time that you land the listings that you’re pursuing, or do you find that owners are listing with your competitors more than you’d like them to?
Keeping this in mind, in moving forward towards finding the ideal way to maximize the number of listings that you’re successfully landing, ask yourself the following question:
“What compelling reasons do owners really have, to list with me over my competitors?”
And if you’re scratching your head and having a tough time coming up with some good answers to this, it may be time to reinvent, or at the minimum, augment your current approach to getting more listings.
When owners are looking at potential brokers to list their properties with, they’re often looking at what I call “the broker buffet”, in which the brokers tend to look very similar to each other, in how they present themselves, and in what they tell an owner they will be doing to market their property.
So with this in mind, how can you truly stand out as the being the best choice that an owner could ever make in a listing broker, if you’re looking and sounding very similar to your competitors?
With this being said, maybe it’s time for you to sit down for 15 minutes or so, and brainstorm ideas on how you can improve your listing presentation, and your overall approach to getting more listings, so that your entire approach seems more compelling to owners.
So in keeping this this in mind, ask yourself the following questions:
Can you make your listing presentation package more exciting?
Can you revamp your entire presentation, to make it even more compelling, convincing, and exciting to your owners?
Can you use better slides or visuals than the ones that you’re currently utilizing?
Can you show them a property website that you’ve already created to market their property, telling them that you’re all ready to go live with it on the Internet, once they move forward and list their property with you?
Can you show them a marketing video that you’ll be utilizing to market their property? Or as an alternative, can you show them a marketing video that you’ve utilized to market another property, while telling them that you’ll be creating a similar video to market their own property?
And if you’re making your presentations as a team, can you have each team member own and deliver their own segment of the presentation, so that you feel to owners more like a team, in which all members are bright, intelligent, dynamic, confident, driven, and totally determined to do everything, that will move the property at a great price?
Can you show an owner 27 different activities that you’ll be doing to market their property, when you’re competitors will only be showing them maybe 5-12 activities? (And with this in mind, read this article that I’ve written, showing how you can easily utilize ChatGPT and AI, to help you to accomplish this.)
And always understand, that in the majority of situations when an owner has no previous obligation or commitment to list with another broker, that they’ll be interested in listing with the one broker who can properly answer the following question for them:
“How do I know that you’re the one broker who will move my property in the shortest amount of time, at the price that I’ll be thrilled with?”
So the more that you become that one broker who will answer this question in the most compelling manner for them, the more listings that you’ll be landing from your owners throughout your entire brokerage career.
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If you’re interested in becoming more effective with your prospecting, and in getting more listings, closing more deals, and making more money, send me an Email or give me a call!
“Through working with Jim I’ve developed new strategies and approaches that are getting me more market share with the type of companies I want to be doing business with.”
Guy Eisner
Travers Cresa