Some property owners and clients, fail to understand or accept the real estate marketing realities of today and seek to save money when they sell. They forget about the ‘big picture’ and the end result that they are seeking. Vendor paid marketing requirements always improve property enquiry.
What happens here? It is seemingly more important to them that they save money on lower commissions or low marketing funds than it is to create a timely sale at a better price. That formula is both false and counterproductive.
So what happens here? They try to sell their property without participating financially in property marketing simply just to save a few dollars. It is a common problem. Given that some property owners will buy and sell real estate just a few times in their lives, there is a genuine lack of experience and understanding of just how the marketing for that actually works.
Property sales don’t just happen. Sales strategies are required. Spending on marketing is required as part of that. Top agents know how to boost that to the ‘result level’.
What do the clients say to you today? So they tell you that they don’t want to contribute to the marketing spend or the campaign. What can you do with this? Questions are required. Logical responses are necessary. Here are some ideas to help you with that.
Promotional Questions to Ask
Think about these questions with every listing invitation or presentation. Are they serious property owners? When do they want a result with the property sale and if so when? How can you help them? What do you want from them to sell their property at the best price and faster?
Know the answers there to all of those questions before you get too far into the sale listing process. Get to the facts behind the real estate transaction and the motivation of the clients. Clarity will help you match your services to the client and what they are considering in selling their property.
The sale of any commercial, retail, or industrial property is not a test or ‘dry run’. Getting it right the first time is important. Of course, there are many variables in any property sale and you, as the agent, have to work with that. Every property can be sold; it is just a matter of how.
Selling a Property Faster
If the clients are serious about selling their property, they will need to spend some money to spread the word locally and regionally. They will need to work with you and your ideas and skills.
Vendor paid marketing funds always shorten the time on the market cycle with a property sale. Build your marketing message around that.
Vendor paid marketing funds are so important in brokerage today. The channels of marketing both online and offline are critical to property promotion. That is where and why the promotional funds are required.
What is the message here? Connect comprehensively with the buyers and the people who could buy the property, and get marketing funds for that. Then stage the campaign across the media channels in ways that can attract and interest people.
No Shortcuts in Promotion
Today, there are no shortcuts to successful property marketing. Certainly, the internet has transformed the way people find and enquire about properties, however, marketing is at the base of every property transaction and promotion.
The number of inquiries and inspections for a well-marketed property will always be higher and of greater quality. That’s how you get people to call you, inspect the property, to start a real estate negotiation with you.
It’s easy to see why a vendor-paid advertising effort is so necessary. Provide examples to the client or prospect of your promotional plans using these items with the client. Talk about your real estate achievements.
The owners of commercial, industrial, and retail property are required to spend their own cash to promote the availability of their asset and get the word out about it. That isn’t something the agents should have to pay for.
The Agents Marketing Role
The fact is that the agent’s role is to promote the listing, generate interest in the property, conduct inspections, and negotiate a fair price.
Creating promotional momentum is the job of an agent, which is why listing exclusivity must also be a part of the real estate listing process, but so must promotional activities and campaigns.
For things to function properly with a listing for sale, you’ll need vendor marketing funds, a timed advertising campaign, listing exclusivity, and factors of attraction that you can build the marketing message around.
Think about things locally in real estate. A town or city will always have other properties for sale and/or rental that are very appealing to purchasers and/or tenants. What can you do to make your property listing more attractive and interesting? That is the marketing question, and that is where leverage and real estate strategies take over.
Shifting Property Trends Today
Businesses and investors are shifting and changing their property decisions today, which means the dynamics of real estate competition are at play in commercial real estate today.
Demonstrate to your customers how their property compares to the rest of the other listings locally, and explain how you will make the client’s property more attractive, interesting, and compulsive.
Good properties generate plenty of enquiry and interest if the marketing message is well-defined and widely disseminated. The property owners with whom we serve with listings should be guided strategically to understand just how and why the promotional plan approach and the vendor paid marketing funds will fully benefit them and their property.