When you list a commercial property today on an exclusive basis, you really do need to focus your efforts from the point of listing onwards to achieve the best results for the client. Don’t waste time during the campaign and make sure that you optimise your efforts of promotion from the very start.
Know what has to be done with every exclusive listing when it comes to pulling in the target market and listing enquiry. Ensure that the client has given you sufficient vendor paid marketing funds to achieve that level of promotional momentum.
Exclusivity Really Matters
When you have converted a property exclusively, the stages of promotion should be set out and actioned in a timely way. Make every moment count when it comes to creating enquiry and converting inspections.
How can you do this? You can split the campaign up into three distinct levels of momentum. They are:
- STAGE 1: The initial two weeks where you are releasing a property to the market and the target audience. During this time it is quite important to spread the word comprehensively across the local property zone or precinct applicable to your buyers and tenants. You really do need a marketing campaign to understand how you will reach the right people in the right way from all of your promotional efforts.
- STAGE 2: The next four weeks will be critical to lifting the levels of inspections and enquiry and encouraging any offers. Any potential negotiations should be occurring during this time. If the offers are not coming in, then it is a matter of looking at pricing the property differently or changing the method of sale or lease.
- STAGE 3: If the property has not sold or leased or during the previous two stages, then there are issues which need to be addressed. That is where a rethink or a different plan needs to be achieved in the marketing of the listing. Don’t let the property become stale and stagnant on the market. Stage 3 is the adjustment phase if the property is not creating real interest or inspections. Changes have to be made to lift levels of enquiry.
As indicated, split the property campaign into a number of weeks and stages of promotion. Change the campaign during that period of time based on the levels of enquiry that you are achieving.
Every exclusive listing should be placed on market and promoted to a strict time frame and task regime; in that way you can ensure the best outcomes are achieved. That is why exclusivity is so important for each individual agent or broker if they want to grow market share and potential income. Don’t waste your time on open listings unless you really need them.
Monitor the Property Campaign
Every moment of a property campaign should be monitored and optimised to achieve the best inbound levels of enquiry; refresh the listing appropriately based on feedback and inspection results. Understand why exclusivity is so important when it comes to promoting commercial property for sale or for lease. Exclusivity allows you to focus your efforts and commitment to the client and the property. Over time that means better results.
Ultimately a successful property promotion allows you to achieve greater levels of inbound enquiry, inspections, negotiations, and closure. Eventually that allows greater commissions and a growing level of market involvement for you at a personal level.