Sales Meeting Strategies in Commercial Real Estate Brokerage Today

In commercial real estate brokerage, the weekly sales meeting can be a powerful tool when it comes to building the market share momentum for the real estate business and the sales team. The meeting can be well planned to achieve positive leverage and momentum across the agency.

With most agencies today, the weekly sales meeting is a good idea to keep the agents on focus and task. That being said, an agenda is required to achieve that. Minutes should also be created from the meeting to track and measure the efforts of individuals. Good salespeople thrive on positive recognition and individual performance tracking. They understand the benefits of the process.

Weekly sales meetings should occur in the mornings before the business day commences. They should also take no longer than 1 hour so that that the team can get back to the marketplace and the daily activities required.

So the goals of the sales meeting should be to achieve the following:

  • To encourage the team forward with activities in listings and commissions
  • To sustain the momentum and the focus across the group in a positive way
  • To track and measure the activities of individuals
  • To establish positive communication between the sales team and the administration team

It should be remembered that most salespeople dislike lengthy meetings. Any top agent or broker will prefer to have a firm agenda to stick to when it comes to weekly reporting and meeting attendance. The team leader or the sales manager should control the process.

Here are some tips to help you establish a positive process of meetings for your sales team:

  1. The location of the weekly meeting should be varied to encourage activity and attendance. You can move the meeting between different venues and times of day. Breakfast meetings are usually quite successful, and the same can be said for lunch meetings. You will however need an agenda for the process.
  2. Peer group praise will always be a useful tool within a successful sales team. The team leader or the sales manager for the agency should encourage that activity. When a salesperson has achieved great success or an extraordinary deal, share that information around the group at the right time and in the right circumstances.
  3. Once a month allow the full sales team and the administrative team to come together as part of social drinks. The interaction between both groups will be important for the success of the agency.
  4. Establish a points system between members of the sales team. The points system should be varied based on a number of different criteria. In that way you will be recognising and encouraging everyone, and not just the top agents with the best deals. Look at the different achievements of the week including the best deal of the week, the best marketing campaign, the greatest numbers of inbound calls, cold calling targets, exclusive listings, and new meetings.

Top agents and brokers like efficiency. They also like to get to the point quickly and effectively. Any sales meeting should take no longer than 1 hour, minutes should be created, and agendas should be circulated prior to the next meeting. Respect the time of your top agents, and they will respect the attendance requirements at your sales meetings.

Learning How to Do a Sales Pitch or Presentation in a Commercial Real Estate Agency

In commercial real estate today the pressure of presenting and pitching your services can be high. Most opportunities for a listing will involve a few agents all chasing the same listing opportunity. This then says that your presentation process should be finely tuned and very professional.

The ‘generic’ approach to presenting your services to a client today just does not work. In every respect your presentation needs to be of the highest standard. To help you with that I have given you some tips below:

  1. Check out the client’s situation prior to developing any thoughts about the property and how you can take it forward. Find out why the client may be selling or leasing the property today; that information may impact your choices of property promotion. Find out why the client purchased the property in the first place. Also ask them about their impressions of property features and improvements.
  2. Get the facts of the market locally. There will be some competing properties in the general area that will tell you something about prices, rents, enquiry, occupancy and time on market. Get all of those facts together as part of your preparation to meet with and make recommendations to the client.
  3. Walk the streets around the property. As simple as this seems, the process of getting out of your car and walking helps you see and observe many things that you would normally overlook.
  4. Understand the property legally and physically. Most properties will have issues that are of impact to the marketing campaign. Look for the ‘hurdles’ that could affect your choices of marketing and inspecting the property with prospects. It is wise to remove the ‘hurdles’ prior to commencing property marketing.
  5. Know about the precinct and its history. The records of sales and leases should be accessed so you know what has happened in the area over the last few years.
  6. Give information to the client about the best alternatives in marketing and inspecting the property. They like to have choices and understand the logic behind each. In that way they will not be limited or frustrated in the final agent choice or decision.
  7. Show some successes as a local agent. Most clients want to work with the best agents and those that really know the local area. Have some examples handy of relevant property transactions that you have been involved with previously.
  8. Be relevant in your presentation and provide a visual time line to the actions that you will be taking. The client can then see how you will be moving things forward for them in a timely way. If anything, that will give them more confidence when it gets to the final choice of agent.

Presenting and pitching your services as a top real estate agent does not have to be hard. You can make a deliberate choice to be the best agent for the job and give the full facts of the process in moving ahead. Confidence is the key.