Positioning and Marketing a Commercial Property for Sale or Lease
When you have a property listed for sale or for lease, you, as the specialist real estate agent, are responsible for building the marketing momentum and positioning the listing. Promotional strategies are needed there.
Without good promotional positioning, you will not get the enquiry from the marketing, and that will directly relate to lower inspections and fewer closed deals. This commercial property market is already full of poorly promoted listings. So what is your strategy to pull in the people that are best suited to buy or lease the property?
Advertising Spending Budget
Sometimes, the poor promotion is due to the client not spending money on advertising or providing the agent with an exclusive agency appointment. In those circumstances, the client is to blame for the listing’s demise. Most listings stay on the market for long if they are not promoted well.
A Clear Promotional Message
Get the message out about the property and the opportunity to purchase. Tell the promotional story well with a diversified promotional campaign that reaches more people in the target market.
The advertising spend is important to enquiry levels and, ultimately, the inspections that you can create. Eventually, offers will be made if the property matches buyers’ requirements and is well positioned in the market today.
Promote quality listings and Create strategies
Let’s return to the quality listings you can control and do something with. That is where positioning is critical in your real estate marketing effort. Every property will have its position in the client’s mind, but that position can invariably be wrong or irrelevant to the market at large.
How to Position a Property in a Marketing Campaign
Here are some tips to help you as the agent to position your property for marketing today:
- Given the type of property, what buyers or tenants will see it as attractive and useful? Should you focus on the owner/occupiers, or will the property appeal to property investors?
- Define the improvements that are critical to the target market. This will include property layout, current use, and modern expectations of services and amenities. Are the improvements functional and modern?
- Address or minimise any hurdles or challenges in the property prior to commencing the property promotion. Marketing a difficult property is not easy, and specific promotional strategies are needed.
- What has been the history of the property up until now, and will that benefit the marketing or story that you can convey to the broader community of business owners or property investors?
- Walk around the area near the property to see what other properties look like and just who is in occupation. What types of occupants like to be in the area and why?
- What will be the best method of sale or lease to move the property in today’s market?
- How will you inspect the property with people who make enquiries? There will be better ways to show people the features.
When you understand all these things, you can make better choices in media and advertising formats and create better levels of enquiry. I also remind you that the vendor of an exclusive listing should pay for the marketing before your campaign commences.
Promotional campaigns
To position a property for sale or lease, maximum focus is required in and as part of building the promotional campaign.
You are looking for things that will attract real estate enquiries from the right people who can afford this prime property at a time when the property market can be sluggish.
