7 Tips for Creating a Great Elevator Pitch for Your Real Estate Business An “Elevator Pitch” is defined in the dictionary as “a succinct and persuasive sales pitch. Too many business people spend way too much time overexplaining who they are and the what's and why’s of their business

7 Tips for Creating a Great Elevator Pitch for Your Real Estate Business

An “Elevator Pitch” is defined in the dictionary as “a succinct and persuasive sales pitch. Too many business people spend way too much time overexplaining who they are and the what’s and why’s of their business. Their explanations often aren’t complete or clear and don’t really define them personally and their business specifics. The term elevator pitch comes from explaining to someone who you are and what you do in a short period of time, such as an encounter in an elevator.

For those newbies, an elevator speech or pitch is a quick, specific, and engaging description of who you are within the realms of your business. Additionally, it narrows down exactly who you are, what you do and who specifically, is your customer.

Elevator speeches can be used in a few ways; one is to gain a customer and the second is to explain to another business person what you do in order to build relationships and possibly gain some additional business. An elevator speech can also be used as part of a job interview, a chance meeting, networking, or giving a group presentation. Right out of the chute, you identify who you are and what you do.

A great way to create an elevator pitch is to grab a blank sheet of paper. Write down, in no particular order, your name, what you do, some highlights about your products and services, credibility stuff (such as past accomplishments or current certifications or ratings) Don’t overdo the credibility stuff or it will sound like bragging.

Then arrange the information you have written down in a logical order. Eliminate any redundancies. If possible, add an interesting personal fact about yourself as an attention-getter. (this builds trust and makes you more memorable) Add any benefits they will get from doing business with you. Practice- a bunch. Finally, run your pitch by family, friends and other business folks for their input. I might suggest creating a business to business pitch first and then once perfected, I will also convert it to layman’s terms for the average guy. (more on this later)

Here are a few tips that can help you create your own elevator speech:

  • It Needs to be Short. 30-45 seconds at most. Remember the term “Elevator Pitch” comes from the idea that you meet someone on an elevator and you have to deliver that pitch before the elevator reaches the floor that your contact gets off on.
  • It Must be Compelling. You have to deliver this information with some sense of passion and excitement. It has to be interesting, otherwise, you will lose your contact’s interest and they won’t be motivated to engage you further; at least from a business sense.
  • Succinct but Complete Information. It’s easy to get sidetracked and admittedly you have to be a bit flexible depending on who you’re talking to, but it has to get to the point quickly and accurately.
  • Appear Relaxed and Confident. It’s important that your pitch seems natural. Although you will cater the pitch a bit to the type of person or persons you are talking to, you need to have the ability to vary slightly from your pitch from time to time. It’s a great idea to have 2 different pitches: one is for possible customers and the other for business to business folks. For business to business, you will likely use the current business jargon in your pitch but for possible customers, you will put the industry language into common, understandable terms.
  • Practice Frequently. You need to have your pitches down pat and that only comes from regular practice. You’ll likely want to change it slightly from time to time so that it always appears fresh and timely. It’s not a bad idea to record it to see how you sound. You might be surprised!
  • Be Engaging! It’s important that you deliver the pitch with enthusiasm and appropriate eye to eye contact and body language, otherwise, you’ll sound like a robot. People like to do business with people that they know a bit and trust and a great elevator pitch is a good way to open that door.
  • Have Great Business Cards! Make sure your business card stands out. If you do so, it will motivate people you meet to follow up. Just like your elevator pitch you should have 2 cards, one for business and one for the layman. Use business jargon on your business to business cards and common terms on your layman business card. Have a current picture, (It’s important) phone number, website and a 2- or 3-word catchphrase. Use the back of the card to identify what you do, where you do it etc.

A great elevator pitch, when delivered correctly can open doors and gain you additional business like no other method. A couple of other quick tips; when you give your business card, be sure to get one back if at all possible. Use that person’s card to follow up in a few days with a personal phone call or email. (we prefer a phone call)

There is no time like the present to get started! Grab a blank sheet of paper and organize your thoughts. Best of luck!

About the Author Frank Pulley and William Bronchick

Attorney William ("Bill") Bronchick, host of Legalwiz.com, has authored six best-selling books and is sought nationwide for his 25+ years of real estate and legal knowledge. He has been interviewed by numerous media outlets, such as CNBC, TIME Magazine, USA Today, Investor Business Daily, Forbes, and the LA Times, to name a few. William Bronchick is the co-founder and past President of the Colorado Association of Real Estate Investors and the Executive Director and founder of the College of American Real Estate Investors. Click on the "About" link above for more information on William Bronchick. Frank Pulley is an experienced real estate investor and foreclosure specialist. He is the director of William Bronchick's Coaching and Mentoring Programs. For more info, contact [email protected]

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A great elevator pitch, when delivered correctly can open doors and gain you additional business like no other method