The actual demonstration of a commercial property to a buyer or tenant is a critical step in making a sale or securing a lease. This is where you show your experience and professionalism and where you really do your best connection work. You need the prospect to trust you and set the stage for potential property negotiations.

When preparing to inspect, find out the needs and wants of your buyers. Then prepare a full proposal for them to review. Finally, show them the property.

Commercial Real Estate Buyer or Tenant Preparation

Discuss ownership and occupancy needs with your buyers. Commercial buyers have investment or business related needs. Find out if they have more or less settled on a specific location: suburb, financial district, skyscrapers, low-rises, etc. – or if they wish to view a broad cross section of available commercial properties.

As you start showing properties and watch their reactions, you’ll gain a deeper insight into their true needs and wants, a process that continues until they actually make a selection. As you prepare buyers for a tour of the property, be prepared to discover that the inspection will be an education for all concerned.

Don’t get buyers too excited about an individual property at first. Never assume that you know exactly what they want because you could be sorely wrong. The property they like may also not be available because of the amount of money they can spend. When you tour the property, let them develop an idea of ​​which properties are suitable in terms of cost and rent. Your budget is the guiding factor in helping you determine which property to list.

Many buyers and tenants of corporate commercial properties prefer to keep the matter of the investigation completely confidential. They may not even want their employees to know that a purchase or change of location is being considered. Some also wish not to reveal their business name to the owner whose property they are viewing. Respect such wishes and be discreet.

On the other side of the inspection process, it is essential to obtain a confidentiality agreement signed by the prospect before providing any information or conducting the inspection of the property.

The Buyer or Tenant Submission Packet

Once you have the information you need, explain that you are going to prepare a presentation package for the buyer. You will do a preliminary survey of the available properties, return at the time you specify with the completed presentation package, and then make an appointment to tour the properties discussed in the study.

The site submission package will contain a number of elements and may take some time to prepare. But it is important; spend as much time as necessary to make it attractive and complete.

The basic ingredients of the buyer or tenant presentation package to be used in the property inspection are:

1. A cover letter summarizing previous conversations, thanking the buyer for reaching out, and briefly explaining the attached presentation. In the letter, cite as references people and companies you have provided services to in the past. The sample letter suggests a tour of the right properties and lists some of the crucial points to consider when making the decision to buy or rent a property in the current market for your location. Remember that you know the market better than they do, so use that to your advantage.
2. A map of the area in which the tour will take place shows, clearly numbered, the places that will be visited. This will be a general city map or suburban map with references to critical factors such as transportation corridors.
3. The check sheet describes the location of each numbered property on the map, specifying the building name, address, total square footage, projected rental rate, access to transportation and parking facilities, height, amenities, services, improvements, tenure details, price and time of purchase. gold rent.
4. Sometimes other owner and developer brochures describe the properties in question in the same way as your own marketing proposal, presenting the property in the best possible light. Owners and developers will provide you with such statements because they can do the best job of selling their own investments. Before providing this additional detail to your Buyer or Tenant, please check the content for relevance and accuracy.
5. Finally, your presentation package will contain business, economic and demographic information about the area in which the tour will take place. This will take the form of brochures and data collected from industry groups, Chambers of Commerce, other local business and civic groups, and the Bureau of Census and Statistics.
6. Always remember to carry an extra copy of the introduction pack with you to refer to as you go along on the tour. Don’t assume the prospect has read the proposal carefully.

It is surprising how many real estate agents and brokers do not provide the above details. In this market, you may only get one chance to interest the prospect in your property or location, so use that inquiry and contact time to your advantage.