module 4 best practice for tours
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Li
Lipsey School of Real Estate2011 Systems for Success
Presented by
Mike Lipsey, MCRE
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Module 4 Best Practice for Tours4.1………………….……..…….…...The Tour Team4.2………………...................….10 Step Approach 4.3…………………………….…Feature & Benefits
4.31……..............................................Owner
4.32..............................................…Property
Module 4: Best Practice for Tours
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The Tour Team
VALUE__________________________________________
SPECIFIC ROLE__________________________________________
ADVANCED PREP__________________________________________
VALUE__________________________________________
SPECIFIC ROLE__________________________________________
ADVANCED PREP__________________________________________
VALUE__________________________________________
SPECIFIC ROLE__________________________________________
ADVANCED PREP__________________________________________
Building Engineer Broker AssociateProperty Manger
Who Else Should Be Involved
4.1
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FOLLOW UP
OPEN PROBE 1
TOUR PROCESS
CUSTOMER’S SITUATION
OWNER’S SITUATION: FEATURE / BENEFIT
PROPERTY SITUATION: FEATURE / BENEFIT
CUSTOMER SITUATION
SIMILAR SITUATION
THE WAY FORWARD
OPEN PROBE 2
10 Step Approach
1
7
34
65
98
2
10
4.2
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Open Probe 11Determine Prospect’s Requirement Essential Needs 80 / 20 Rule
Example Question’s “What objectives do you have for today’s
tour?” “Would you share with me 2-3 detrimental
essentials?”
4.2
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Tour Purpose2Prospect Requirement Awareness of Tour Purpose
Discovery of Open Probe 1
Example’s “We understand you have a requirement of
10,000 sf.” “We understand that access is essential.” “We understand amenities are important
to your employees.”
4.2
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Open Probe 23Discover Prospect’s Pain or Discomfort
What is Prospect Moving To What is Prospect Moving From
Example Question “Could you share with us negative past
experiences that you would like to avoid?” “What do you like about your current
location?”
4.2
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Customer’s Situation4Discovery of Prospect’s Needs
Example’s 10,000 SF Public Transportation Covered Parking Amenities State of the Art HVAC Fast Response Times
4.2
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Owner’s Situation (Feature / Benefit)5Owner’s Attributes Owner’s Features Selling Benefits
Example Question “Owner is a Core Buyer, therefore property
will always be kept in pristine condition.
4.2
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Property Situation (Feature / Benefit)6Building Attributes Building’s Features Selling Benefits
Example Question “Building has onsite management which
will ensure fast response times and attention to details.”
4.2
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Customized Situation7
CUSTOMIZED SITUATION
Step 1Step 2
Step 3
Step 4Step 5
Step 6
Step 7
Incorporate Previous StepsCreate Customized Situation
4.2
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Similar Situation8Successful Previous Projects Introduction To (Similar) Existing Tenants Tour Recent Build Out (Similar to Prospect’s
Requirement’s) Play Matchmaker
4.2
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The Way Forward9Trial Close (Example’s) “What are your initial thoughts of the tour?” “What are your initial thoughts of the
location?” “Should we generate a proposal?”
4.2
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Follow Up10Using Appropriate Follow Up Technique Proper Timing Proper Method
Example’s Note Phone Call Proposal Space Plan
4.2
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Owner: Feature & Benefits
Discovering Feature, Selling Benefit
Feature’sOwner Bio Benefit’s
Strong Emphasis on Property Management
Multiple Office Locations
Publicly Traded REIT
Southeastern Investment Strategy
Established in 1983
Property Management Expierance
Experienced Leasing Professionals
Equity for Tenant Improvement’s
Focused Owner
Stable Ownership
Hold Buyer
Quick Response Times
Smooth Leasing Process
Competitive Improvement Packages
One Owner Throughout Lease Term
4.31
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Property: Feature & BenefitsDiscovering Feature, Selling Benefit
FeatureProperty Bio Benefit
Built in 2008
Owned By LPC
Centrally Located
50,000 SF of Availability
Recently Built
Reliable Owner
Multiple Space Options
Several Amenities Nearby
Available Public Transportation
Attractive Parking Ratio’s
Pride of Ownership
Floor and Square Footage Options
Productive Work Environment (Amenities)
Transportation Options for Employees
Hassle Free Garage
111 E WashingtonOrlando, FL
4.32
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Exercise: Feature & BenefitsDiscovering Feature, Selling Benefits
FeatureOwner / Property Benefit
4.3