Welcome to the official blog of Block Real Estate Services, LLC (BRES). BRES seeks to offer insight and news concerning commercial real estate, financial investments, construction and development of the 212 communities we serve locally and nationally.

Tuesday, May 21, 2013

How To Write A Prospecting Letter - Commercial Real Estate

In Commercial Real Estate, a prospecting letter can be the motivation for the reader to call on you...or
it can be bound for the trash can. It is important to recognize the determining factors that differentiate an opportunity from waste in the potential client's eye. There are factors out of your control that could send your correspondence to the can and this probably will happen to the majority of the letters you send. However, the small percentage who do take interest in your letter are that much more likely to make a deal with you. Here are some tips on writing a prospecting letter that seals the deal -

Make it Personal 
  • Hand write your envelope - with the volume of junk mail that the average person receives, it's important to differentiate your letter from spam. 
  • Focus on them - They don't know you. They don't care about you. Focus your letter on their property, their wallets and what is happening that could affect them.
  • Warm-up your cold call - think of the prospecting letter as the perfect way to warm-up your cold call and make a more human connection. 
Short and Simple Is Best  

  • Keep it short - anything longer than a page is too much and they are likely lose attention. Aim for your letter to take up half to three-quarters of the page. 
  • Organize in a visually appealing way - use bullet points, lists and paragraph breaks to make your letter easier to read. 
  • Keep it simple - keep your sentences short, simple and to the point. Don't open with a complex narrative in an attempt to impress...get to the point. 

Let Them Know You'll Be Calling 
Let the reader know you'll be calling and when within the next week after the letter will be received. This not only give them a head's up that you'll be calling, but also holds you accountable so that you do call them within a week. It also gives you an opportunity to warm up the cold call by referring to the letter so you aren't just calling out of the blue. "Hi there, my name is  ______ and I'm calling about the letter I sent you last week..."

There are many things in the new digital age of business that have eliminated dusty networking habits. However, the prospecting letter is still a major source of value for Commercial Real Estate professionals and should be used to give the foot in the door to gain a prospective client.

Contributing Author:

Lou Serrone
Senior Vice President
Director of Sales & Leasing
Block Real Estate Services

1 comment:

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