If you look around your town or city you will likely see many other brokers and agents claiming to be the ‘best’ in the industry. The fact of the matter is that most are very ‘generic’ and not specialised. If you want to stand out in the industry you will need to specialise and market your services through that process.
Many things come together if you want to build a massive market share. To get things started, check out these facts and market details:
- How many agents and brokers exist in your area?
- What do they specialise in?
- What can be considered the growth segments in the market currently?
- What are the rankings of agents in market share currently?
- Review the market share by internet listings and signboards on a monthly basis.
So you have got some work to do here. The fact of the matter is that you really must understand where you are now with these things before you can expand your marketing activities. To see growth and results you must see where you are now.
Here are some categories of marketing to help you build massive market share in commercial real estate:
- Signboards are very important to local profile. Given that most property investors and business owners stay in the local area when they change property, the local signboard will help you with inbound enquiries.
- Success letters should be sent around every closed sale or leasing transaction. Spread the word about your success and results in finding a property buyer or tenant.
- As a general rule, only accept exclusive listings. In that way you can control your marketing activities, inspections, negotiations, and results. If a property is not genuinely marketable, then don’t waste time on it.
- Websites should be highly professional and locally oriented. They should also be optimised for search engine exposure. Most agents and brokers have very little understanding of how to achieve that or why it should be a continual process. Over time their business can then suffer due to low website ranking and presentation.
- Industry internet portals are useful in marketing particular properties. That being said, the industry portals are very manipulative and costly; this is particularly the case when you look at any suburb or a town. For your listing to stand out on the internet from all the others locally, you will need to consider banner advertising, priority listing, and larger advertisements. Who wins? The industry portals win every time. They are very costly; some would still say that they are an essential marketing tool, and I would tend to agree at the moment. If your quality listing requires priority placement on the internet, then you should get vendor or property owner marketing funds paid in advance. Monitor the feedback and results that you get from every campaign. Track and measure the things that happen from all marketing activities, and repeat what works for you in your local area.
So there are some things to do here if you are to build market share as a top agent locally. Build a matrix across a number of marketing channels similar to those above, and stay active in sending a consistent message to your local area. Add to that some blogging activity and social media. Consistency is the key to building massive market share as a commercial real estate agent.