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Here’s an idea. The next time one of your commercial real estate sales reps meets with a client seeking to seal a deal, instruct him or her not to focus on closing but rather to multitask during the meeting, repeatedly checking his or her phone for emails and texts, perusing unrelated documents, taking calls from other prospects as well as work colleagues. Also, the rep should show up for the meeting immediately after a trip to the gym. No time should be wasted showering or changing into business attire.
What are the prospects for success in such a scenario? What might you as a leader in your company have to say to a rep who took such an approach on his or her own?
It all seems so Captain Obvious, doesn’t it? Well, brokers who compile offering memorandums are following a similar line of thinking without realizing it.
That document is more than merely a document. It is a key selling tool and a representation of your company, both who you are as an organization and how you do business. Imagine the difference between two sellers, one laser-focused on the client, looking and acting the part of a professional locked on meeting a prospect’s needs and making an intelligent pitch to nail the deal, and another distracted, attention darting away from the client to different tasks and appearing disinterested in both the pitch and the prospect. Those are precisely the same differences presented to prospects reviewing offering memorandums professionally prepared and those compiled on the fly by brokers.
Need more proof? Multitasking is among the leading distractions in the workplace. But there’s more: Multitasking is a myth. What does that mean? It means that people can’t do it. They either do one thing well and not the other, or, more likely, they do neither well. That’s why researchers increasingly are advocating what they call the power of single-tasking. Workers who do this are less anxious, more productive and excel at those single tasks while multitaskers flounder.
That’s true for brokers, and it’s true for the sharp, focused professional commercial real estate marketing firm to whom you would outsource production of a commercial real estate offering memorandum.
Brokers are not graphic designers, and brokers are least effective chained to offices. Brokers are deal finders and dealmakers. That’s the essence of the work and when brokers do it well, commercial real estate companies thrive.
Time spent outside a broker’s wheelhouse, locked in the office, staring at screens while producing an offering memorandum lacking the necessary expertise to make it shine is time wasted and not time spent finding the next property and the next deal. What could take a broker a week could take a skilled, single-focused commercial real estate marketing team a few hours with a far sharper, far more dynamic result.
Put your energies into what you do best. Find properties and prospects. Close deals and find new ones. Build your company. And make sure that whenever you put an offering memorandum in the hands of your clients, it not only showcases the property but also your brand.
Need help making it happen? Contact us today for a free consultation to discuss how to deliver highest quality in offering memorandums and how to cover all your commercial real estate marketing needs.