In commercial real estate brokerage, it is wise to have a specific focus and strategy when it comes to placing signboards on listed properties. With the growth and changes to the property market today, the signboard still remains an effective and efficient marketing tool.
So you have some questions to ask as part of this review process. Here are some of those questions relating to signboard placement and marketing:
- Should you bother putting the sign on openly listed properties?
- Should an exclusively listed property feature a specially designed sign?
- Should vendor paid marketing funds be applied to the sign placement process with exclusive listings?
- What can you do to make your boards more relevant and attractive to the buyers and tenants in the market?
- What are the conversion rates or enquiry rates that you are getting from your boards today?
- Are your boards different from those of your competitors, and how can that be improved?
So the signboard remains a specific and special process within our commercial real estate industry. Perception and placement of a sign on a property will infer that you have a dominant position in the marketplace. The buyers and the tenants in the local territory, town or city will notice the board readily and easily. It is a ‘silent’ and effective promotional process.
Here are some ideas to help you with this marketing initiative:
- Always track your numbers when it comes to erected signs. Compare those numbers to that of your competitors. Split the numbers between exclusive listings and open listings.
- As a general rule, have the vendor of the property pay for the sign to be specially created. The board should feature professional photography, dot points, well-crafted headline, and contact detail.
- The sign itself should be simple in appearance. Do not put too much information on to the board. Encourage people to contact you directly for more information.
- Be aware of the approval processes that apply to board placement in your town or city. There are likely to be certain regulations that restrict the sign size and location.
- Investigate the strategy of using boards in a ‘V’ configuration so the passing traffic can easily see the sign.
- Ensure that your branding is consistent across all of your located boards. Within the branding process, add details of the agent or broker, mobile telephone, office address, and after hours contact. Make it easy for the buyers and the tenants and the market to contact you at any time.
- There is a strategy in marketing that is referred to as the ‘white space’ principle. It is used a lot in commercial real estate signage, and is simply the process of having plenty of white space on the sign or the advertisement so that the details stand out easily and simply. As a direct consequence, the sign is not overly complicated or confusing. It is easy to read and interpret. A simple signage layout will attract more enquiry than a complicated sign.
- Place a listing reference or Internet reference on the sign for ease of enquiry and follow-up by any buyer or tenant. This will be quite useful when you have a number of brokers working in a large town or city, and as a consequence, a large number of listings. When the telephone rings with an inbound enquiry, identifying the right property in the correct location should be an easy process. The listing reference or property number will help.
When you have a number of signs placed on quality listings in your town or city, the telephone will ring quite frequently with enquiries, and particularly outside of business hours. This then says that every agent or broker should be prepared to take the call and deal with the enquiry efficiently and professionally at any time of day. Top agents will do that. Ordinary agents like to work the hours of 8.00 AM to 5.00 PM Monday to Friday. Isn’t that an amazing opportunity for those top agents that want to capture the business?