4 Practical Marketing Strategies for Commercial Real Estate Brokers Today
In working as a commercial real estate broker or agent, you should have some definite strategies devoted to marketing at a personal level. The brokerage you work for will have little to do with the number of enquiries you achieve and the listings you convert.
Where do you start to get results in brokerage today? Success in the commercial real estate industry is generally created through individual effort and personal prospecting. Luck has nothing to do with your progress. Diligence and persistence in connecting with people will help you grow your business faster. Put people at the top of the list when considering your daily activities.
4 Personal Marketing Tips for Brokers and Agents
Here are some special marketing strategies to be implemented at a personal level. See how you can implement these into your business processes:
- Online Marketing – Establish a real estate blog, and contribute to the blog on a regular basis. Most agents would say that they are the industry specialist for their location, town, or city. To help prove that fact, they can create a real estate blog where they can talk about market trends and property activity. The blog would be in addition to any websites currently used by the agent. A well written blog can be linked into the social media platforms used by the agent. That then helps the social media process to have meaning and value.
- Signboard Presence – Increase the number of signboards you have placed in the local area. Signboards are very important to growth of market share. Signboards placed on properties for sale or lease alert other business proprietors in the area as well as property investors to the listing. If you can get a number of signboards into a territory and a defined area, your name will be personally promoted for the property type and the location. That can then lead to greater levels of enquiry coming to you across the telephone and the Internet.
- Direct Mail Marketing – Establish a direct mail marketing process. In a gradual an ongoing way you can research the local property owners, and property investors. Over time that list can be used for direct mail, success letters, and marketing brochures. In saying that, every piece of correspondence sent out directly to a person or company should be followed through with a telephone call. Far too many agents are afraid to make cold calls and follow-up calls to prospecting letters; in some cases agents are insufficiently disciplined to make those follow-up calls. That being said, it is remarkable the amount of information that you will get if you follow-up your marketing letters with a simple telephone call. Create a conversation; that’s what this business is all about.
- Presentation Skills – Pitch and present for your listings on an exclusive basis. Open listings are a waste of time unless you specifically know that you have a current enquiry to introduce to the property. Exclusivity, on the other hand, allows you to control the listing stock, the client, inspections, and the negotiation. Any person interested in the property will need to go through you for details and to see the property. Exclusivity is the best way to go when it comes to growing market share and controlling your commission results.
So, there are some things that you can do here when it comes to marketing yourself personally as an agent or broker in your town or city. Establish a marketing system that is easily implemented and controlled.
Track your activities through a database on a personal basis. The only way to attract listings in reasonable volume in today’s property market is to get out there and meet the people. Build relationships at every opportunity and consistently apply yourself to the prospecting process.
