Commercial Real Estate Agents – Monday Morning Clients Wake-up Call

In commercial real estate, it is interesting to note that, on average, most genuine property enquiries are made from Wednesday to Saturday.

This suggests that we should focus our marketing efforts on that period of the week. Commercial property internet advertising and newspaper advertising get read more effectively and create more enquiries on these days of the week. The way we live and conduct business is probably what influences these averages. As agents, we should constantly tap into the community.

Monday Morning Market Update Call

If you look at the logical cycle that this produces, you can see that Monday would be a good time to chat with all your clients and tell them what you will be doing in marketing their property for the week. It is also a great time to contact those clients and tell them what results came in at the end of last week. Progress reports for clients are a big thing in commercial real estate marketing.

Every listing should progress in the real estate marketing cycle each week. Price adjustments and different marketing approaches should occur to keep the momentum of enquiries moving forward. What is your marketing cycle and how can you improve it?

Most of your exclusive listings will only have a relatively short ‘interest’ duration, during which you can generate fresh enquiries from the local property market. It has been said that the difference between a fresh listing and a stale listing is about four weeks; I would tend to agree. Focus all your real estate promotional campaigns on the early weeks and days. That is when people look at the property online or consider it locally.

Early Stages of Marketing

Our marketing efforts as commercial real estate experts should be focused on the early marketing stage so we can get some good enquiries going. When you get some enquiries moving, you have something to work with. Grow your database of leads and opportunities from quality listing stock wherever possible.

Our clients expect us to tell them where and how to market their property; they expect updates and progress. They expect a bit more than a generic marketing effort. Get personally involved with your listing marketing, no matter how many listings you may have. Lift the telephone and talk to people about your listing stock.

What do you do now to promote your listings? You can’t just advertise online and hope the property will be sold or rented in one week. The property market has changed a lot in the last five years and will continue to do so; we, as agents, need to match that with promotional strategies and solutions.

Good Listings Bring Better Results

There is one basic rule in commercial real estate that is worth remembering.  Here it is:

• Good listings create enquiry and help build your database
• Poor-quality or overpriced listings do nothing for your business or career.

As we move into the next cycle of the property market, new opportunities will arise, and the players in the market will change, but there will always be people to buy and rent commercial real estate. We just need to find them. So, the message is to start prospecting and talking to more people.