Business sentiment in most city locations has changed a lot in the last 12 months. That has seen a lift in enquiry for premises both in leasing and in sales. So there are some commercial real estate opportunities from the local area that can be tapped into here.
The traditional real estate signboard on a vacant property or premises for sale or lease will help pull in that enquiry. Are you ready for some new business and new enquiry? Focus into your location with signboards on listings so that you can draw in quality property enquiry.
Essential Questions to Ask
Consider these questions:
- How many signboards in your local area do you have placed at the moment?
- Does your brokerage, your name and cell phone feature prominently on those boards?
- What level of enquiry are you getting per day from those signboards?
- Are your property signboards distinctive and professional?
If you are lacking a real signboard presence in your listing territory you are likely missing out on local enquiry. There is a difficult equation here to implement and control. You need plenty of signboards locally to help you lift your enquiry rates from buyers and tenants; essentially to put deals together.
To attract more listings you should already have plenty of signboards locally on listings that are pulling in the enquiry. Most of your listings should be on an exclusive basis. Signboards on exclusive listings will attract better enquiry. All of these things are part of a new business strategy.
It is a bit like putting the ‘cart before the horse’ here, as you must have local property listings to attract more new business. Most of the clients that we work with will choose the agent or the brokerage with the local coverage and that includes signboard presence as well as online presence.
So you must have plenty of signboards to grow your listing bank further. How many listings do you have now locally and how many of those are on ‘exclusives’?
A recent conversation about brokerage
Recently an agent emailed me about an article that I had written on this very listing concept. He said that ‘they couldn’t get exclusives because simply because that’s the way it happens in their city’. Just about all of their listings are ‘opens’.
I had a big problem with that statement. I then said that the ‘open listing’ problem was largely of their brokerage generation; they were not ‘relevant’ enough to the property type, the location, and the prospects or clients that they deal with. When you lift your ‘relevancy’ in the location with the clients that you work with, listings can be easily converted ‘exclusively’ most of the time.
You really don’t need to work with ‘open listings’ unless you have to. The best clients and the best properties should be ‘exclusives’; in that way you will pull in the better levels of enquiry. So here are some rules to help you build your signboard presence for your location and yourself personally:
- Open listings – they are a last resort only so stay away from them
- Exclusive listings – convert them most of the time and prepare to do so
- Unique signboards – vendor paid marketing should include a quality signboard
- Main roads – signboards on a main road are a valuable marketing tool
- Quality buildings – a signboard on a quality building will be good for inbound enquiry
- Property Management appointments – use your current property management portfolio as a base of signboard activity for leasing enquiry
Use your signboards locally to build a better commercial real estate business.