The marketing of commercial real estate today requires a different approach and certainly a special focus. Every exclusively listed property that is taken to the market for sale or for lease needs to be matched to the target audience and the local property conditions.
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Where Do You Start?
Advertising property and placing a signboard on the building is just the start of the process. There are many other things that can occur to tap into the active buyers and tenants that are available. As brokers and agents, we can provide very special promotional services in this challenging and changing property market.
The pool of contacts that we have are of real value to the marketing process and certainly, your real estate database will give you leverage in winning listings, providing you present the case accordingly and comprehensively to new clients and prospects.
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A Plan of Attack
So this new approach requires a dedicated plan of attack on the part of the broker or the agent. That marketing plan will also require commitment to tap into the pool of buyers or tenants as the case may be. The days of generic marketing in the property industry are well gone. Top agents require exclusive listings, and that’s the way it should be.
Exclusivity is Your Goal
The comments that I am about to give you apply to exclusive listings only. When you list a property in this way, you have the commitment of the client and their focus for a solid period of time. You have something to work with and can create a successful transaction more effectively. Think about these things:
- KNOW THE MARKET: Before you design any marketing campaign, understand the competing properties that you are up against. Look through the local area to see what the other commercial and retail properties for sales or lease are doing, how they are being marketed, and gauge the level of their success. Look for the strengths and look for the weaknesses. Repeat what works, and create a point of difference with your listing.
- TIME OF YEAR: Some properties are best marketed at a certain time of year based on inbound property enquiries and seasonal business activity. Make the right choices here before you start to release the property detail to the market.
- SWOT ANALYSIS: Comprehensively inspect the property with the client to ensure that the strengths are understood and any property weaknesses are addressed. Given the limited levels of enquiry that apply to most sales and leasing situations, remove any hurdles that could apply to the property listing process before the real estate marketing campaign commences.
- MIX YOUR MARKETING: Mix up the property advertising campaign between newspaper media, online strategies, database contact, and direct contact into the local business and property investor community. All of this can be done to a plan and will take reasonable effort over time. Every quality listing will be an excuse to talk to many other people. From that you can achieve some solid market intelligence.