An Effective Have-Want Presentation
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Your time in front of the marketing session is precious, so make it count! Here are some suggestions to further strengthen our skills in presenting Have-Wants.
1. BE PREPARED! A typical Have-Want only takes one minute, so those 60 seconds are crucial to your success. The opportunity to present a Have-Want to a group of knowledgeable and creative brokers is invaluable. You need to know the property and owner’s situation thoroughly. Decide on the most important aspects of the property and situation relative to the audience, not to you and your client! Don’t waste any of your limited presentation time telling the audience about what your owner wants. That’s not what the audience wants to hear. This is your chance to be a one-minute salesperson, so, be prepared.
2. USE A VISUAL. A picture is worth a thousand words. With a color transparency, you can capture the interest of the audience and avoid a lengthy description of the property. An overhead with a map or aerial photograph will also save time and clarify your presentation. Let your picture speak for itself and spend your limited time talking about BENEFITS.
3. PRESENT THE BENEFITS. In presenting a property, appeal to as many in the audience as possible by describing briefly the benefits that might attract a taker. The more benefits that you can identify, the more likely you are that you will find a taker. Be as SPECIFIC as possible in your description of the benefits. For example, simply saying, “The property can be developed with thirty-seven apartments,” will not get their attention nearly as much as telling the audience that, “The property has the potential to build thirty-seven 2-BR units under current zoning. Plans can be processed in four months, there is a 3% vacancy factor in the area, and rents average $875 per month. If the developer wants to sell the project when complete, the market is a 9% cap rate, so the potential profit is about $750,000.” Review the “Profit in the Package” checklist (see article this issue) to clarify potential property benefits or client capabilities that might stimulate audience interest.
4. FOLLOW UP WITH A FLYER. Have your flyer, mini-backup package, or a full backup package ready to pass out after your Have-Want. People will remember only l0% of what they HEAR, and they will remember 50% of what they SEE and HEAR. While, adding visuals will greatly enhance your presentation, delivering written information at the meeting to those who express an interest will dramatically increase the odds that your Have-Want will be remembered.
Have-Wants present an opportunity to increase your business. By following these four simple steps, you can make your valuable 60 seconds powerful and productive!
