Advertising and Marketing Rules in Commercial Real Estate Today
In commercial real estate agency you must promote your business and your listings. This requires you to have a plan of attack.
Most enquiries for properties will come from the local area. On that basis about 75% of your marketing should always be directed in that way. Local property investors and business owners will be a major part of the marketing process.
Here are some clear rules that should apply to creating the advertising image and profile that you want as a top agency or agent.
- You must advertise to get enquiries coming in. Some of that marketing effort will be direct where you take the property and or yourself to the people that are interested. Many agents struggle with the promotional process and forget to brand themselves sufficiently or correctly. Self-branding is a part of building your market share as a top agent. The office that you work for will not bring you much business at all; most of your success is personally generated. Self-promotion is a good thing.
- All of your marketing efforts should be mixed and matched across the available tools and channels. That will include newspapers, internet, blogs, social media, signboards, brochures, websites, and direct contact. Since there is so much to do, you will need a system.
- Make cold calling a significant part of your marketing efforts. Talk to new people every day. Put them in your database. Over time it is the database that will build your profile and create leads for you.
- Advertising and marketing should always be simple. Use dot points, short commentary, and professional photographs on every promotion. It is well known that photographs capture the attention and the enquiry.
- Every listing is a chance to talk to new people. Take every quality listing to the market personally. That means that you should be lifting the telephone and making the calls to the right people.
- Door knock the local businesses in your territory every day. In this way you can make a fresh connection and leave a business card. The business card is the most effective business tool that you have. Most people will keep a business card whilst other marketing material will be ‘trashed’.
- Take a look around the local area at the other agents and the current listings. Your marketing effort should be better than anything else that is done locally. When you stand alone as a true marketing expert, the listings come to you.
It is not sufficient in commercial real estate to be a good negotiator or an excellent ‘lister’. Marketing will get you the people and the enquiries. Focus on marketing and the business will open up for you.