Every commercial or retail property that is taken to the market for sales or lease will have some variables to be understood and optimised. Some properties will also have factors of weakness to be addressed prior to the commencement of the marketing campaign.
It is a fact that the packaging of a listing will help you with enquiries and inspections. From that process you can optimise the opportunities for negotiation. This then says that you should have a plan of approach to move every listing towards commencement of marketing.
Consider these facts when considering the marketing of any property:
- What are the requirements of the client given the sale or lease situation? When you know the key facts and focus points of the client you have something to work with. Do they need a quick result? What will be the ideal outcome to the client when you reach a final point of contract or lease?
- From the previous point you can now look at the property and its strengths and weaknesses. Consider the improvements, services, amenities, tenant mix, and growth or opportunity factors as they apply to the target market. How can those strengths be improved to shorten the time on market?
- It is likely that a ‘best method’ of sale or lease should be chosen to find buyers or tenants quickly. Not all methods are as successful as others. Choose the promotional method that suits the situation and the property in all respects.
- Be very clear and specific when it comes to the target market for the property. Help the client see that you are matching the property to the market through a specific campaign and personal marketing approach. Every quality listing should be exclusively listed and on that basis direct personal involvement from you will shorten the time on market. Tell the client exactly what you will do to promote their property in the right way to get faster results. That strategy will capture the focus of the client and convert more listings for you. Do not be generic with any listing unless it is taken on an ‘open basis’.
- Review the other properties in the local area that could have an impact on the clients listing. You will need some solutions to offset that conflict in marketing. Perhaps you should adjust the timing of the sale or lease, the method of promotion, or the campaigns spend. Give the client some choices, but make clear recommendations to help them decide the best approach.
So you have some real facts to deal with here. Every quality commercial or retail property should be taken through some analysis in this way. The results achieved will help in moving the property to a negotiation more effectively and quickly.