As a real estate agent have you ever sent out a proposal to sell or lease a commercial property and found that you had another client’s name on it or in it? Do not worry you are not alone, although this should not give you comfort when the error happens.
With the convenience of computers, this error is far too frequent. All proposals for new business in commercial real estate should be checked by two or more people that understand what the document is saying and how it is laid out.
This is the structure of creating good proposals in commercial real estate:
- Inspect the property in detail first, taking the necessary notes of features and challenges that the property presents.
- Undertake all the essential property searches of the title, the region, the neighbourhood, and the local services and amenities. When anything unusual exists and requires more detail, seek more facts to ensure that the item does not impact the property price, or the marketing strategy.
- Inspect any properties in the area which can be considered competitive to the subject property being offered for sale or for lease. Gather information from those other properties and the relative real estate agencies so that you know what you are up against.
- Interview the client in the preliminary sense before you do your proposal. This allows you to understand the client’s focus that you can address in your proposal. The client will usually have some basic plan regards pricing, rental, time of sale or lease, marketing budget, and settlement period.
- Ensure that you completely find all the weaknesses and challenges that the client has in selling or leasing the property. These matters will have to be addressed in your proposal. When this is done effectively, a client can clearly see that you really know what you are doing and that you are the agent of choice to take the property forward in the campaign. You should be the pain relief that the property requires.
When all of these factors are carefully investigated, the proposal to be created to sell or lease the property, can more directly match the needs of the client. In absolutely all cases, the property proposal whether it be for sale or for lease, must in the main be totally about the property, the strategy, and the outcome. The client is not really worried about your office profile or your history in the area. They would have investigated that prior to approaching you.
After you have done a number of successful proposals, it will not be necessary to start from scratch each time you do a fresh proposal; use content and layout from other documents that proved successful.
Obviously care needs to be taken that prevents any details of the previous client or property being transposed to the new proposal. This then says that you should always have your proposal proofread by one or more people that understand commercial property.
The customization of your proposal to the needs of the client should be evident in and from the front of the document, clearly tapping into the concerns and challenges that the client has. Simple communication is the key in a great proposal layout, but relevance will give you great advantage and potential closure.
New Listing Proposals for Real Estate - How to Set Up a Proposal to Win the Business
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