So you have been asked to list and sell or lease a commercial investment property. What are the ‘favorable’ physical conditions for that listing and the property market that will help you drive inquiry?
You can use those ‘favorable’ physical conditions as part of your listing pitch and presentation.
Strengths Analysis of the Property
To answer the question you should do a ‘strengths analysis’ of the property and take into account those favorable factors; merge those positive concepts into your property comments and recommendations.
Using the example of a typical office property in a CBD location, here are some ideas to help:
- Lack of other competing listings – Show the client how the lack of competing properties in the region of the city will be of benefit to your marketing campaign. It is a valuable strategy to take the client for a drive around the area to see what’s happening and what other properties are on the market currently.
- High quality improvements – Within the asset there will be services, amenities, and improvements that attract interest. Today many buyers and tenants are focused on energy savings, ‘smart’ buildings operationally, efficient air conditioning, staff comfort, environmentally friendly occupancy, energy savings, and technology. Use the improvement features of the building to build your ‘story’.
- Good levels of inquiry – If you track your numbers and types of property inquiry, you can position your listed property into the facts of what people are looking for. Property factors including location, size, rents, and improvements will all have a message for you to share as part of your marketing efforts.
- A history of the property – Has the property established itself locally with a history or identity? The history of the asset may give you an edge in your marketing and draw in the attention of your target market.
- The right time of year – If you watch your property market closely you will know the best times of year to take certain properties to and through a promotional campaign. Give reasons for your promotional marketing timing. Show the client why certain times of year are better than others in creating interest and in getting results.
- The right property market or targeted segment – Some properties are really well suited to a certain buyer or tenant profile. Determine what those segments are and then build a case or focus around that choice.
Simple facts like these will help you determine and choose the favorable market conditions to promote your clients property. Build your marketing message and recommendations around those things.