Top CRE sales tips from the experts
Archilogic helps office providers promote and sell office space through 3D floor plans, office design simulations and property data insights. Here we hear from commercial real estate experts on what it takes to sell office space in the 21st century.
Successful people don’t get to the top on their efforts alone. Along the way, they’re helped by numerous people. Experts who have been there, done that, and who can provide guidance on how to become the best in the business.Just look at Richard Branson. As the entrepreneur struggled to get his airline to take off, he turned to an industry expert for advice and guidance. He’s gone on record stating that the success of Virgin Atlantic wouldn’t have been possible without the mentorship of Sir Freddie Laker - the founder of Laker Airways.Similarly, there’s a lot to be learned from experts in commercial real estate and sales. The best sales tactics come from a group effort, behind every successful pitch is a mountain of inspiration and best practice.
Stay on top of new trends
New ways of selling and marketing commercial real estate are always appearing. 3D floor plans and virtual tours are rising in popularity as a way to help customers experience a space. Immersive marketing can help customers visualize their potential property, to inspire and engage them with it. 53 percent of commercial real estate experts expect technological advancements to have a great impact over the next three years, with 15 percent already seeing the effect now.
Brandon Turner recommends using social media as a marketing channel with a dedicated website for each property. As he explains, “Facebook ads allow you to target individuals who live in a specific geographic location… These types of ads are clicked on much more often due to the “local” feel that ad has.”Sites like Facebook have a glut of data to draw upon for greater targeting. Use this to your advantage by reaching your intended audience with stunning visuals of your commercial space with pinpoint accuracy. There’s an added bonus in that social media advertising usually costs mere dollars to reach your intended audience. John Barrows extols the virtues of LinkedIn voice messages. On one occasion, he recalls the success of a sales rep who sent 125 such messages. Getting 50 responses and 25 meetings for his efforts - a 40 percent response rate and a 20 percent success rate.
Help prospects ‘see’ what you’re selling
Customer experience is everything. Mark Hunter recommends helping prospects to “...see and achieve what they didn’t think was possible.”Many office spaces are now modular, with a lot expected from them. They have to be functional yet inspirational, practical and on-brand - yet highly ‘Instagrammable’. This multi-tasking commercial space is best represented through 3D floor plans and walkthroughs. Especially if a range of designs are shown to meet every potential client need and can be quickly edited to feedback.
Constantly evolve and find new solutions
Salesloft CEO Kyle Porter states, “I’ve always believed that if you don’t constantly push yourself and evolve that you’ll get passed up and become obsolete rather quickly in today’s business world. I live my life by the Rule of 1% which is about trying to get 1% better every day. In sales, we need to focus on the day to day execution to hit our numbers but we also have to keep an eye out for the trends that are affecting our industry.”In commercial real estate, those trends come on thick and fast. Customer expectations are rising and sales must respond to this. Plus, market conditions can rapidly change and new legislation may impact sales and planning. Understanding the many changes at-hand in the sector will set you apart from the competition.
Remember the human behind the sale
Porter also emphasizes always remembering the humans behind your sales quota. Simply aiming for numbers is a shortsighted approach. As Trish Bertuzzi explains in The Sales Development Playbook, the job of a sales professional is about arousing curiosity and generating interest. Connecting with each prospect to understand their questions, preconceived answers, and desires. For one, that might be seeing their office space come to life via a virtual tour. For others, it’s working collaboratively with sales and design on their ideal office layout.
Taking inspiration from fellow sales experts can help your sales leap forward and your prospect relationships reach a deeper level. With these tips, you’ll better understand the latest trends, customer desires and set yourself apart. Becoming not just a salesperson, but a sales leader.