When you have a property listed for sale or for lease, you are the person responsible for building the marketing momentum and positioning the listing. Without good 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. In some cases the poor promotion can be due to the client not spending money on advertising or providing the agent with an exclusive agency appointment. In those circumstances it is the client that is to blame for their own demise. Most of those listings stay on the market for a very long time.
Let’s go back now to the quality listings that you can control and do something with. That is where positioning is really important in your marketing effort. Every property will have its own position in the mind of the client but that can invariably be wrong or irrelevant to the market at large.
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 the property 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. That will include property layout, use today, and modern expectations of services and amenities. Are the improvements functional and modern?
- Make sure that any hurdles or challenges in the property are addressed or minimised prior to commencing the property promotion. Marketing a difficult property is not an easy thing to do.
- What has been the history of the property up till now and will that have any benefit on the marketing or story that you can convey to the broader community of business owners or property investors?
- Take a walk around the local 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?
- Just how will you inspect the property with people that make enquiries? There will be better ways to take people around the property and show them the features.
When you understand all of these things, you can make better choices in media and advertising formats. I also remind you that the vendor of an exclusive listing should pay for the marketing before your campaign commences.
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 the things that will attract the enquiry from the right people that can afford this prime property at a time when the property market can be sluggish.