In your town or city there will be plenty of listings for sale or lease at any point in time, and then there will be a few of the high-quality listings in top locations.
Certainly, you cannot win all the good listings in your city, but converting your fair share of those listings is important because you will get more enquiry from those listings and the enquiry will be from ‘A-class’ property investors and or business owners.
Top Agent Thinking
The top agents in the property business will attract more high-quality listings in most towns or cities, and on that basis, they will be getting the enquiry from the buyers and business owners of the market that are of high net worth.
Quality Listings Strategy Logic
Given that the property market is quite competitive most of the time, you need that ‘edge’ when it comes to engaging with people and growing your market share. That is why the quality of listings will have a lot to do with the growth of market share overtime.
It is the formula that top agents use on a regular basis to draw on the better transactions, the high-quality people, and the change or churn factors from the local property market.
Marketing Spend Plan
There is another part of the new business formula to also understand. It relates to the quality of the marketing campaigns that you are placing in the media for the listings that you are creating or converting.
A high-quality marketing campaign will attract more interest and thereby more inquiry. Every marketing campaign today should be paid for by the client as part of the staged promotional process for the property.
Journey of Commercial Real Estate
So here are some rules to apply to a quality listing and property today so the ‘journey’ through inspections to a negotiation and completed transaction can be shortened and optimized for the client:
- Seek vendor paid marketing monies for the listed property. Make sure you are selecting a variety of marketing channels that are proven to attract enquiry from the targeted audience you are seeking to attract.
- What is the ‘twist’ or message about the property that you can work with? Choose the ‘factors of attraction’ that are clear and relevant for the property in its location and with the improvements as they are currently.
- Create a story for the property and from its history that allows you to build a case study and or editorial that can be placed in the newspapers or on a blog or article site. Stories create an ‘edge’ and build an interest in property marketing. See if you can get some history factors from the property owners that allow you to create an interesting story and message.
- Build a headline and sub-headline set of features for the property that is not generic but descriptive and attractive. You can get a good selection of words to help with that from a thesaurus. You can get that thesaurus onto your mobile phone as an ‘app’, so that your adverts from now on can be more creative and readable.
- Change your property advertisements every few weeks so the message is shaped in different ways to the target audience that you are seeking to attract.
- Add professional photos to the marketing process and change those photos regularly with the online portals and in the advertisements for the property.