Rules for Reputation Management Strategies in Commercial Real Estate Brokerage

Some commercial real estate brokers and agents work within the brand of their real estate business with little focus on personal marketing.  Over time that process has little impact with listing opportunities, and generally leads only to ordinary commissions.

 

Your reputation and personal marketing process in commercial real estate brokerage is very important if you want to rise to the top of your cities property market.  Strategies are required and action plans should be put in place.  Here are some ideas to help with that.

 

Look at your property market now.  Answer these questions:

 

  • Who are the top agents locally?
  • Why are they regarded as better than the others?
  • How do they stand out as special when it comes to marketing and property activity?
  • Are they attracting the higher quality listings and why is that?

 

You don’t have to replicate what other top agents do, but you should establish your own marketing strategy locally to compete with and overtake these other top agents.  Don’t let them hold the better listings and the dominant market position without a challenge.

 

Reputation Targets?

 

Your target this year should be to let the right property people know that your services are available and that you are the best solution to solving a sale, lease, or property management requirement.  Professional skills are always required in our industry.  The clients that we serve like to choose the best agents for the job.

 

So now you have some key questions to answer:

 

  • Why should someone use your real estate services?
  • What can you do that is better than anything else out there?
  • How can you get the word out to the local area about you and your listings?

 

The answers that you give to those questions should not be generic.  Specific solutions are required taking into account your location, property type and or service.

 

Here are some great ideas to help you build your profile as a good commercial real estate agent  locally:

 

  1. Success letters – Every time you make a sale or a lease, send out and deliver letters to the local property owners and businesses to tell them of the result.  Providing that your transaction is not confidential, and you have the approval of the client, talking about successes locally is a good idea.
  2. Case studies – With every successful transaction there is a story to be told.  You can form that story in a case study including facts about the property, the location, the marketing, and the end result.  The case study can be converted into a pdf file and dispatched through your database or website.  Other investors and property owners like to know how things are done.
  3. Market Updates – On a quarterly basis produce a simple newsletter about the location.  You can talk about trends in prices, rents, new property developments, and rates of enquiry.  Convert some of your information to charts and illustrations.  Make the messages interesting.

 

Simple strategies like these help you show the local property owners and business leaders that you are a person to be considered in any property challenge.  Our industry is based around people and quality listings.  You need plenty of both.

 

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