The marketing process in commercial real estate today should be quite special when it comes to any exclusive listing. Those listings deserve a dedicated focus when it comes to reaching the end market of buyers or tenants.
In most towns or cities there are plenty of commercial or retail properties to sell or lease. A good property in a top location has to stand out from the competition. The only way to do that is with a dedicated marketing campaign. I go back to the point that a top property should be exclusively listed.
Why is it that some brokers and agents take on ‘open’ listings? In most cases it’s because they can see some opportunity in the listing. Always treat any ‘open listings’ with general action and process. You cannot trust the client in those situations, and in most cases many other agents and brokers are talking with them. Obviously someone has to make a sale or lease; just make sure you do not get ‘burnt’ in trying to do so with a client that you cannot trust.
So let’s go back to the ‘exclusive listing’ process as that is the one that you can control. Here are some marketing techniques that I would use to build inspection and negotiation momentum.
- Understand the client’s full property situation today and how they can transact a deal when one starts to shape up. That information will help with your negotiation planning.
- When the property is publically listed and released to the market, take a flyer or brochure to 100 surrounding businesses and property owners in the general precinct. You will get a considerable amount of information from the market in doing so. You will also show the ‘players in the market’ that you really are a top agent with a professional approach.
- Always determine a ‘target market’ for the property (or perhaps two or three target markets). As part of that process you can contact call all the businesses locally that fit the ‘targets’ set. Find out what they are doing with property and if a move or relocation could be on the cards for them.
- Create a short video of the property and load it onto your website. The video should be supported by a brief property description. You don’t need to make the video long. Two minutes will do very nicely.
- Create a MP3 audio about the property and load the audio onto your website. In the audio you can talk about the property and its improvements.
- You should have a blog as part of your personal marketing system locally. You can link your blog to quality listings that you believe are a ‘cut above’ the competition.
- Go through your database and find a short list of potential tenants or buyers that may like to see the property. Give those people a call and arrange a meeting.
A successful marketing campaign for a quality property is all about being different and professional. That is why you need an exclusive listing as part of the process.