Leasing agents are in frequent conversations with tenant advisors throughout a transaction, yet there exists an unwritten rule that these same leasing agents cannot speak directly with the decision-makers. This lack of communication means leasing teams only have a 30-minute tour over a 12+ month sales cycle to convey a property’s “why” to the people ultimately responsible for moving forward or not!
This lack of targeted, sustained outreach to decision-makers creates an inevitable education gap, reduces their conviction to sign on the dotted line, and negatively impacts close rates. In fact, more than 86%* of transactions decide not to move forward post-tour, putting an end to the belief that “all we need is leads, and we’ll close the deals.” What is needed is a leasing strategy that better nurtures decision-makers through the leasing funnel to ultimately improve a property’s close rates.
RealtyAds’ AI is providing its clients with more holistic, full-transaction engagement to decision-makers by creating a digital strategy that proactively engages them online. Immediately before tours, prospects are made aware of a building’s offering, ensuring the property is top of mind. This pre-tour strategy is helping properties a) make more tour lists and b) generate pre-tour excitement about a property. Post-tour, prospects can now continue to be sold on a property’s key attributes that make it a fit for the firm. This is helping leasing teams and ownership groups pull themselves out of a tenant advisor’s comparison matrix (pictured below), better educate their prospects, and produce a far less commoditized property in the process.
The best leasing teams today are selling decision-makers not only on a 30-minute tour but rather gaining an advantage by engaging them throughout the full length of commercial real estate’s long sales cycle. RealtyAds’ AI is proud to be the only solution in the marketplace that can successfully accomplish this.
To simplify this concept in your next leasing meeting, think of it this way, “If it’s worth it for Nike to continue to educate prospects on their product after they’ve looked at a $100 pair of shoes online, how important is a post-tour engagement strategy for a transaction potentially worth millions of dollars?”
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*RealtyAds looked at more than 50,000 transactions with clients that own properties to arrive at this statistic. It represents that even after a tenant tours a property according to the local leasing team, the transactions fail to advantage to a successful transaction 86% of the time. This represents a major inefficiency that will never be fully solved, but one where even marginal improvements create outsized returns.