Marketing Solutions in Commercial Real Estate Brokerage that You Must Activate
As a commercial real estate agent or broker it is important that you market yourself and your skills comprehensively across your territory. The brokerage that you work for only has a small part to play in the marketing process.
Leave no stone un-turned when it comes to finding the property owners and business leaders that you can help. That being said, the territory that you control can be quite large and on that basis you may need to split it into logical segments or pockets of activity. It can be said that the process is a bit like priority marketing.
So every agent should have a specific individual marketing plan relating to their area. If you have a large zone or area to cover in your town or city, split the area into segments of approximately 200 properties. From that point onwards, the following rules should apply as part of your personal territory marketing plan:
- Prime Locations – Within each area containing approximately 200 properties, determine the prime locations for new business activity, and the prime buildings that attract tenants and investors. Understand and identify the businesses located in each of those prime locations. Research the business proprietor in each case. In an ongoing way, should connect with the business owners to determine exactly what they may require in the future when it comes to property type, location, and timing. Regular contact with those businesses will help you break down the barriers. When you have covered 200 properties and totally understand ownership and occupation, then move on to the next group of properties. Logic and consistency will help you find your listings.
- Know the Investors – Property investors will own particular assets locally. Some investors may hold a property for a number of years, whilst other investors like to grow and shift their investments every 5 to 7 years. It is that cycle of change and churn that may be a real business generator for your prospecting efforts. Approach property investors to see what intentions they may have with local property ownership and investment.
- Owner Occupation – Owner occupation will be a facet of property ownership to look into through your local town or city. Some businesses own their property; they can however experience property pressure through expansion, contraction, or relocation needs. Ongoing contact with local businesses will always help you find those factors of change with local businesses.
- Logistics and Infrastructure – Rezoning, roads, transport, and infrastructure changes bring with them property risk and changes. Keep a focus on local property changes that could facilitate different investment plans and activities. Some investors will be adverse or sensitive to property risk. That is where you can provide help when the balance between risk and reward is changing for a client.
- Local Signage – The traditional signboard remains a powerful tool for many agents and they look to build market share. If you have lots of signs locally on exclusively listed properties, it will help you get traction with more listings.
These 5 simple things require organization and research at the agent level. Are you up to the challenge?
