In commercial real estate brokerage, the marketing process is fundamental to brokerage and agent progress. In saying that, it is not a direct selling process. Marketing is more about positioning and awareness than it is about transacting. When you really understand that you can get some traction in your property market.
Successful Promotion Systems
Let’s look at the real processes behind successful marketing and promotion in our industry. What are the processes? Try these:
- Formulating a regular connection – Most of the people that we serve and assist in sales, leasing, and property management will not make property decisions immediately. It is a matter of them remembering you at the right time and in the right way somewhere in the future when issues arise in property investment.. To achieve that ‘remembrance’ you will have to establish a way of connecting with selected people so in a positive way.
- Relevance in communication – Why should people listen to you or take your call? Your prospecting processes should be biased towards the person you are talking to. What property needs could they have? Where are they located now? Your comments in prospecting should be sufficiently localised to be of immediate interest to the other person.
- Lifting awareness – Can you develop a number of resources as tools to use in meetings, direct mail, and informal contact where you can extend the value of your involvement with people for the longer term? A checklist that you can provide the person, or perhaps an article about local area property changes may be of great help.
- Segment your activities in marketing – Plan your property marketing and personal promotional efforts. Segment your market into locations, types of people, and price ranges. A database is the best way to achieve that segmentation. From that division of groups and people you can send out special messages by mail and email; you can also make direct telephone calls to the right people. When you segment your market correctly and prospect into those segments you will find your conversions to meetings and listings lift.
- Tell a local story – People like to hear about local issues and the ways in which property things have been handled. To be a great marketer you really should considering telling more stories and give out more messages about the local property zone or precinct.
So the message here is that marketing in commercial real estate brokerage is not direct selling. It is however a very special communication process that can position you as the local real estate agent and property specialist.