The perfect presentation package can be timely and expensive to compile for REALTORS® working with commercial clients. Having the right reports and data to help walk a client through your expertise is essential in gaining their trust and business.
It’s your job to learn your client needs and wants; from space requirements, approved uses, amenities needed, etc., to specific attributes that might support who they want to be around for potential customers, tenants or even employees. The more thoughtful your asks, the more precise you can be with pinpointing the right location. Having this conversation provides you with a checklist for your research process and presentation package.
Once you have your client’s checklist, the data collection begins…
Review your client’s checklist of attributes and determine the most important economic, demographic and spending behaviors that best suit your client’s needs. For example if your client is looking for a multifamily investment, you might focus on finding areas heavily populated with those in early adulthood (20-39), who have college degrees, and who live in an area with population growth.
2 SITE SELECTION ANALYSIS
Plug your attributes into the RPR Commercial Site Selection Analysis. This tool will highlight areas within the map that rank in a “good, better, best” format so you can clearly define which area has the highest concentration of attributes matching your client’s needs. To support your conversation about selected geographies for a potential site selection, generate a Trade Area Analysis report to include in the presentation.
Now that you know what geographic areas are a good fit for your client, start looking for that perfect building, space or parcel of land. RPR receives on-market listings directly from Commercial Information Exchanges (CIE) or MLSs. You can also search off-market data around the country and further research potential sales or leasing opportunities by connecting with the property owner. Before speaking with the property owner, collect information that includes the subject property’s facts, tax information, legal description and mortgage information through the public records data RPR Commercial aggregates for your benefit. Once you’ve determined the properties you want to present, customize the RPR Property Details report with your own notes for the client’s review.
The site selection analysis guides you to an area based on essential attributes listed by your client. Select properties based on that criteria, then choose the RPR Commercial Trade Area report, which completes the package by reiterating the site selection.
The RPR Commercial Trade Area report further validates your expertise in an intuitive presentation of data that illustrates demographic and economic statistics for the current state of the market, as well as projections to 2020, to support business sustainability. Provide your client with a clear depiction, detailing population trends, income ranges, age breakdown, employment by industry, purchasing habits, and much more.
So there you have it, a comprehensive presentation package that shows your client the process that led to the site selection.