The advertising and marketing strategies that you apply in commercial real estate brokerage will help you find more buyers and tenants, and the process will also help you find more clients. Any quality listing that is creatively promoted will create interest. Top agents consistently promote listings effectively and directly.
Advertising and Marketing Rules
Here are some specific strategies that you should apply to your marketing campaigns and particularly the property promotions with your exclusive listings:
- Track the level of enquiry for each listing. Understand what the buyers and tenants are looking for in your town or city. That information can help you when it comes to creative marketing and target marketing.
- Certain properties will be suited to higher levels of direct marketing through your database and across the telephone; the direct marketing process involves you talking to a lot of people. Any high quality listing in a prime location would normally satisfy that criteria. In making those calls and contacts, you can find plenty of other leads and opportunities. One good quality listing directly promoted can lead to many others over time.
- Client funded advertising campaigns are essential. The client in an exclusive listing arrangement should be required to commit reasonable funds to the property promotion. On average, the funds required in a standard property promotion should be equivalent to 1% of the property value. Those money should be paid prior to the commencement of the campaign.
- With any property placed on the Internet ensure that you are tracking the number of hits to that listing on a daily and weekly basis. Soon you will see the suburbs and the property types that are creating more interest from buyers and tenants.
- The visual aspect of marketing is really important when it comes to promoting your property listings and creating effective property advertising. Use professional photographs, creative advertising copy, and adopt a suitable easy to read layout. Don’t make your advertisements overly complex or detailed. In the first instance, you are endeavouring to attract the interest of buyers and tenants. Make it easy for them to contact you from the advertisement to obtain more detail. Cut down on the number of words in the advertisement and focus on the visual side of marketing. Your focus is to attract the eye of the reader to the property thereby encouraging them to ring you for further detail. Any genuine buyer or tenant will call you; if you provide too much detail in the advertisement, some of those people will not tell you of their interest.
- Use the ‘white space’ principle as part of the advertising layout. As the name suggests, you are allowing a good degree of white space to help the advertisement stand out.
- Understand the strengths of the property and merge those factors into the advertising copy and stop points. Use dot points as part of the layout and in doing so focus on the strengths of the asset and your target market.
- Use words that sell and specialised words that match the target market effectively describing the property and the improvements. Get away from the generic promotional terms and conditions that so many agents use. The best way to find new words to use will be through the use of a thesaurus. Given the convenience of mobile telephones today, you can easily install a thesaurus on your mobile phone for use when it comes to exclusive property advertising and marketing campaigns.
The message here is quite simple. Devote more time to the advertising copy that you create and the campaigns that you run for all of your exclusive listings. A little bit more time spent in marketing and promoting your listings will directly relate back to better levels of enquiry.