In this commercial real estate market, we have limited time to attract the interest of those prospects that are suitable for the property. The first 4 weeks of any marketing campaign are really important. Each phase of marketing should be optimised.
If you can see any errors in marketing, they should be fixed fast. Whilst it may seem obvious, so many agents just advertise a property and then wait to see what happens. Marketing is a bit more than that and in today’s property market we should be at the top of our game when it comes to getting the right message out regards our listings.
It should be said that the agent with the best listings will be the agent that attracts most of the enquiry in this market. If you aspire to improve your market share, chase the top listings and focus on the clients that own the best property.
From that enquiry we should track the sources so we know what works and what is not working when it comes to getting the message out.
Here are some facts about marketing commercial real estate today:
- The local property precinct is the area that will more than likely produce the buyer or the tenant as the case may be.
- Most enquiries take longer to close and then complete.
- Traditional person to person contact remains at the top of the list when it comes to creating prospect interest.
- The internet should be incorporated into all marketing efforts.
- Every listing is a reason to talk to more people in the local area.
- Track your listings as to time on market, enquiry rate, and signboard counts. You must know what is working in the local area and how long it takes to transact a deal.
- The agent with the best database tends to be the agent with the enquiries and the deals.
- Target marketing works today as the best way to connect the listing with the right prospects.
Taking all of these facts together, it is easy to see that every listing requires effort and focus on the part of the agent. Make sure that most of your listings are on an exclusive basis and then market them with maximum effort. Talk to a lot of local people.
If you are struggling with ideas to market a property, look around the internet and in other countries for examples of top marketing. You will soon see agents that really know how to write a good advert and attract the enquiry. It is not hard to replicate their style and processes.