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Archive for the ‘Presentation Skills’ Category

What’s In It For THEM

April 30th, 2013

My good friend and colleague Larry Pino wrote a blog post last year where he related a wonderful story that also serves as a great lesson

Lawrence J. Pino

for commercial real estate brokerage professionals. With his permission, I have posted it here and I’m sure you’ll enjoy it. There is a big difference between talking to your prospects about features and talking to them about how your services will benefit them, solve their problem, improve their situation, etc. Learn how to get on the client’s agenda so you can talk about “what’s in it for them”. One last observation……it takes practice! Notice that Isabella role played her new found sales techniques over and over until she was confident in her approach! Great lesson from a 7 year old. Enjoy:

We had quite a bit of drama in the household a few evenings ago.

Isabella, newly installed into the 2nd grade, expected some family and neighborhood lay-downs when she started pitching magazine subscriptions for the annual contest.

Apparently, depending on how many subscriptions you sell, and how much money you collect in a two-week period of time, you get to be invited to the Dippy Dot reward party where extra spiffs are handed out to the 2nd graders who did particularly well. (more…)

Ten Clichés To Stop Using On Clients

March 2nd, 2013

By Nellie Day, Featured Contributor

There are certain lines that we rely on when making a point, particularly if it happens to be a selling point. While clichés will never disappear entirely from our vocabulary, commercial real estate agents seem to fall privy to these word traps quite often, particularly after the Great Recession. In the interest of your client’s sanity, here are 10 overused (and often misunderstood) business clichés you may want to lay off of.

1. Delay and Pray

Also known as “extend and pretend,” this cliché refers to the strategy some lenders have adopted in a down market whereby they hold commercial loans at pre-cash values instead of taking a loss on the books. This is done in the hopes that the market will soon turn around.

2. Main Street, not Wall Street

This phrase gained popularity during the Great Recession. Though there are many interpretations, it ultimately pits Middle America and everything associated with it against the “corporate greed” that many blame for the Great Recession. Agents often use this cliché when discussing the pros of a local real estate market. Others use it to emphasize the services in place that can help smaller or independent investors achieve their financial goals. Whatever the context, this phrase is as tired as “The Great Recession.” (more…)

5 Tips for Using Video to Market and Brand in Commercial Real Estate

February 10th, 2013

I recently attended a seminar on the topic of internet marketing and I witnessed something that shocked me. It was about 4:30 in the afternoon and the seminar was wrapping up. The speaker asked the audience of about 250 attendees to raise their hands if they planned to go home after the seminar and turn on the television. By his count, 17 hands went up. He then asked how many people planned to spend their time after the seminar online. I was near the back of the room and suffice it to say, I lost site of the speaker because of the forest of raised hands in front of me.

While it’s probably obvious, online activities have replaced a very large chunk of the time we used to spend watching the tube. Sure we surf for information across all formats, text, audio and video, but video is becoming the most popular form of content on the web. YouTube is now the third most visited site on the internet behind Google and Facebook according to Alexa Traffic Rankings. More than 24 hours of video is uploaded to YouTube every minute of every day and when you consider that most videos are under 5 minutes in length, that’s a heck of a lot of videos. There are other video platforms as well, such as Vimeo, digg and others popping up to increase the volume of video content even more. (more…)

5 Questions to Ask Every Prospect

June 3rd, 2012

There is a powerful axiom in the sales world that goes something like this: “If you are telling, you are not selling”. Sure you want to unleash your value proposition on the prospect and dazzle him with your capabilities, track record and all the reasons he would be a fool not to list with you. But what the client really wants to hear is how you are going to SOLVE HIS PROBLEM! That’s what we do…..we solve problems for our clients. So in order to present a solution to the prospects’ problem, we first need to be sure we understand very clearly what that problem is what the prospects’ expectations are of us.
The process leading up to earning a new assignment has many facets, but effectively questioning the prospect about their current situation, problems or needs and expected outcomes is a major key to winning the business. Commercial real estate agents and brokers can dramatically increase their success ratio through some basic training on how to ask strategic questions that will draw out the prospects’ motivations, problems and needs. You can word them in such a way as to make them feel natural to you, but here are 5 important questions every commercial real estate agent should be asking the prospect when working on a potential new assignment:

1. What was your original investment strategy when you acquired this asset? Asking this question forces the prospect to review why they purchased the asset and what their vision was for the future benefits they would derive from owning it. This will allow you to potentially contrast that vision with the prospect’s current situation. If the investment hasn’t performed up to their expectations or has deteriorated in some way, this question will help accentuate the prospects’ current motivations for disposing of the asset or his need to accelerate the leasing process.

2. If you could change anything at all about how this investment is performing or any other aspect of your current situation with this investment what would that be? In other words, tell me what’s wrong with this investment for you. This question will help the prospect clarify the shortcomings of the investment or his current situation. Perhaps the management of the property is weighing on the prospect and interfering with his personal life. He may tell you that if he (more…)

6 Traits Commercial Real Estate Brokers Should Learn From Tim Tebow

January 11th, 2012

No matter what you think of “Tebow Mania”, you have to admit it’s been interesting to watch. Love him or hate him, the guy is a proven winner which is what most of us certainly try to be when it comes to our commercial real estate brokerage practices. I’ll admit, I’ve been on the Tebow bandwagon and I’ve developed a few parallels that I think can be applied to what we do to be “winners’ in commercial real estate. I’ve identified 6 traits that Tim Tebow exemplifies and that you will also find in almost every successful broker:

 

  1. ATTITUDE: Tebow has always had the attitude of a winner. He knows what it takes to prepare and he goes about his business with a positive mindset, even though he is under tremendous scrutiny and pressure. It’s been hard to have a positive attitude in the commercial real estate business over the past couple of years, but the attitude you project day in and day out reflects how you approach your business. I believe you either project a winning attitude or a losing attitude.
  2. ENTHUSIASM: Tim Tebow loves the game and it shows. He has been displaying a childlike enthusiasm on the field and off since he was at Florida. That enthusiasm is contagious and makes everyone from his teammates to his fans want to be a part of it. Dale Carnegie said “Flaming enthusiasm, backed up by horse sense and persistence is the quality that most frequently makes for success”. Be enthusiastic about everything you do. When you make a cold call, meet a client for the first time or make a marketing presentation exude enthusiasm that tells the person on the other end that you LOVE what you are doing. More importantly, enthusiasm is the reinforcement of belief.
  3. COACHABILITY: Throughout his football career, Tebow’s coaches have raved about him. Why? Because their job is to coach and he is a coachable kid. Even when he was experiencing championship success at the University of Florida, he remained disciplined and open to the coaching he was receiving. (more…)