In commercial real estate today, the marketing of property for sale or lease should be well directed and focused. In this way you can attract the correct levels of enquiry for quality listings. It should be said that low quality and overpriced listings can waste a lot of your time as an agent. For this reason, only take on the listings that are appropriately structured, well located, and correctly priced.
The local property market now has significant evidence of change and adjustment. It is this comparable evidence from other local properties that can and should be used when you are pitching and presenting your services to clients locally. List at the right price and do so every time.
If the client refuses to accept the trends of the market today, it is better to walk away from the listing. Highly priced listings create little enquiry. Over the time of promoting that high priced listing, the client will become disillusioned and blame the agent for the lack of enquiry. In my view you should let some other agent suffer the distraction of an overpriced listing. There is always plenty of other good local property to chase down and list.
If you are going to devote significant time to the promotion and marketing of a particular property, you should only do so on the basis of that property having been listed on an exclusive basis. Total commitment on your part absorbs a lot of your time and effort. Only an exclusive listing will allow you to do this. Ensure that the client has given you sufficient marketing funds to undertake the required factors of promotion.
So let’s assume you have a good property to list and that the prices have been compared locally to ensure that you are on track when it comes to a marketable property. Here are some tips to help you create a high powered marketing campaign of focus and direction.
- Email promotion of quality properties remains highly effective and is likely to improve as technology and electronic marketing evolve. That being said, you will need a good database for the process; all of the people in the database should have been well qualified for the property in question. It is worthwhile noting that the laws of e-mail marketing today prevent unsolicited emails being sent. Make sure that your clients and prospects in your database have been suitably screened and approved for receiving this type of information.
- Direct mail is becoming more effective than ever before. This is simply because traditional mail is now less common than before. Send letters to local business owners and property investors. Follow-up every letter sent with a telephone call.
- Direct calls are highly effective to people that may have enquired on other property previously.
- Your database should be reviewed for contacts and people that may have an interest in the property today.
- Flyers should be dropped into the business mail system of the local area.
- Just listed letters should be sent to property investors that you already know.
- Drop in to other businesses nearby to the listed property and tell them of the listing.
- Solicitors and Accountants should be on your mailing list. Some of them will have clients and customers that need property or investment change.
Marketing of commercial property today for sale or for lease is a real skill and it requires an agent that really knows how to tap into the right people and do so in the right way.