Lead Generation Tips Using Online Marketing

commercial real estate podcast by John Highman

Where are you today in your property activities and your commissions?   Can things improve? If you are like most people in commercial real estate, there are always some more promotional strategies that you can develop and solutions that you can provide to your targeted client base.   So let’s look at some personal improvement initiatives and some marketing strategies to help you boost your business locally.

There are some reasons that you could be struggling in commercial real estate brokerage today.  A big reason for many agents and brokers struggling is usually the lack of an online presence when it comes to professional skills and property speciality. They are simply ‘not known’ when it comes to the local area and the property speciality.

The people of the marketplace (your clients) sometimes don’t know of certain individuals when it comes to solving their property challenge. The top agents of the market are remembered and that is the key to their success. So you need to do more with that promotional strategy online for yourself as a broker or an agent in your location.

Specialise This Way

When you specialise in a property type, it is wise to spread some ideas and some strategies across the online channels of social media and the blogging platforms to show the world that you really understand what you’re doing and what you’re talking about when it comes to local property activity in your town or city.  of course there are many things that you can talk about when it comes to your location given sales, leasing, and property management activity. There are things to talk about when it comes to your successes in the industry and the property market changes for your location.

In this podcast, we share some ideas relating to your personal profile and how it can be promoted across your property market and your client base. You can learn how to grow your online brand and also your online activities as an industry specialist for commercial real estate locally.

Bring Your Promotional Ideas Together

Take these ideas and merge them into your real estate promotional activities every day, so that the consistent message regards your skills and relevance to the property market is well understood and optimised.

Help your prospects and clients that you work with remember you as the industry specialist that you are or want to be in your location. The core message here is for you to spread the word about your expertise, your availability, and your property speciality. You want people to remember you at the right time in the right way with the right property types.  These are specifically online marketing strategies for commercial real estate brokerage.


Systems to Follow in Commercial Real Estate Marketing

Your ability to set up a clear marketing system will directly impact your results and enquiries in commercial real estate brokerage.  If you want to pull in the interest of buyers or tenants, then the marketing system should be specific and direct.

Don’t fall for the ‘general’ approach to property promotion.  Put your full efforts into your real estate business; talk to people and build promotional momentum in the target audiences.

As you grow your listing base and market share, you should have more exclusive listings under your control.  There is a limit as to the number of listings that you can handle at any point in time.  Property types and size of property will dictate the ‘limit’.

 

Know your Limits

Some property promotions can take a lot of your focus so know what you must do to attract the people to your property listings, and then seek the listing terms of engagement and marketing that you need.

Here are some ideas to help you develop your system of property promotion or marketing.  Add to the list as you see necessary:

  1. Inspect the property before you do anything else. Understanding the property and its location will give you more leverage in the client conversations around marketing and marketing costs.  Take plenty of photographs in and around the property as you do the inspection; those photographs will help condition the client in the marketing conversation.
  2. Develop an inspection strategy and use your photographs to illustrate the processes of inspection to be used. If the client can see that you do know the property and how to hold the inspection with buyers or tenants, then the listing and marketing conversion in a lot easier.
  3. Define a target audience and talk about where they come from, how you will reach out to them, and why that target audience will listen to you. Help the client see that you can engage with the target audience with great effect and in a timely way.
  4. Draft you adverts and then have another person review the layout, content, and correctness. Some brokerages today have a specialised person undertake that process for all advertising.  In drafting the adverts, remember the property features and the ‘keywords’ that are likely to attract more property enquiry.
  5. The ideal release of the marketing campaign should be part of a strategy and a timed process. Use a Gantt chart to show the client how you will approach the listing, inspection, and negotiation processes.  The visual approach helps when want to enlist the thinking and decision facilities of the client or prospect.  Gantt charts do that quite well.
  6. Mix your online and offline marketing effectively. It is a known fact that newspaper advertising is becoming less effective and is highly costly, so a balance of media choices should be given to the client when listing for their marketing consideration and reflection.
  7. Go direct where possible when promoting a listing. The direct approach helps with finding businesses and investors looking to move and or grow their property portfolio.  Every listing is a good reason to talk to many people.  You could say that ‘exclusivity’ is part of that process.
  8. Review all your activities weekly so you can see where things are happening and how small adjustments can happen to your business approach with prospects. A successful year in commercial real estate brokerage is a combination of many different strategies deployed to a plan and a system.

 

So, all these things will help you develop your approach to property marketing with your better-quality listings.  Take the steps forward to engage with your property market, prospects, clients, and business owners every day.

Your systems will help you achieve good results in your business.  Don’t wait for the enquiries to come to you; go out and find the enquiries.

How to Be a Successful Target Marketer in Commercial Real Estate Brokerage

You can win more local property business if you are a ‘target marketer’ for a location.  The clients that we serve in commercial real estate like to have the best agent with the best market coverage working for them in every way possible.  Random actions and the generic approach to the real estate business no longer works.  A top agent needs to be specialised and targeted in the actions and marketing efforts.

 

A good agent has to have some special processes of driving the real estate listings out into the property market and to the tenants or buyers as the case may be; not just relying on advertising online and in the newspapers to do that.  Only the ‘open’ listings of the market dictate a generic approach to marketing and client contact.

 

Think about your property listings now.  Split your listings into the two groups of ‘open’ and ‘exclusive’.  Your ‘exclusive’ listings should take priority in just about everything that you do as a broker or agent.  Review your marketing efforts and your client contact processes between the two listing types.  Are you connecting your listings to the right ‘target audience’?  Can you improve those connections?

 

Marketing Strategies that Really Matter

 

Let’s get to the facts of how and why targeted property promotions really work.  Put your exclusive listings into the process.  Here are the most important skills of a target marketer in our industry today:

  1. Providing the deep and relevant facts – with every listing, take the time to explain to the client exactly how their property sits in the local area by way of price, marketing, and potential enquiry. Do a SWOT analysis so that the client can fully appreciate how you can help them resolve their property challenge in a timely and meaningful way.
  2. Understanding how to reach the right audience – every listing will have a target audience of tenants or buyers as the case may be. Show the client exactly how you will connect with that audience in a deep and meaningful way. Put yourself into the connection process so that you are the real point of difference when it comes to finding the right people to inspect and negotiate on the listing.
  3. Creating momentum with property listings – take every listing and create momentum across enquiries, inspections, and negotiations. Soon the people in the local property market will understand that you are the agent of choice when it comes to creating churn and activity with a listing.
  4. Understanding how to inspect a property to show all the features comprehensively and thoroughly – with all of your exclusive listings, develop a special inspection process to feature the property in both layout and improvements. Create an inspection strategy and explain to the client exactly how that will work in encouraging offers from the right people.
  5. Building and segmenting a database for comprehensive property enquiry – your database can and should be at the centre of your real estate business. Each and every day you should be creating conversations with the VIP clients within the database, and adding new people to the list. It is a special skill to be refined and developed over time. If you are looking for new clients and new listings now, then review your database activities and your client list. How regularly are you connecting with those people in a relevant way? The top agents of the market know how to drive enquiry and interest from their database and their client list. Put your client list at the centre of your business so that you can find the right listing activity and the right buyers or tenants at the time of change and opportunity.

 

So the message here is that you can be a target marketer covering the specialized segments of the commercial property industry. In your town or city, review the best segments of the industry and the property types that will offer you the ongoing opportunity that you are looking for.

 

Look at how the property market is changing in your location and position yourself into the zone as the industry specialist. Market yourself accordingly in comprehensive ways. Let the local business owners and property investors see that you are the industry specialist that they will need when the next property challenge evolves. Help them remember you through deliberate and direct marketing activities.

How a Complete Commercial Real Estate Brokerage Practice Session Improves Knowledge and Skills

In commercial real estate brokerage there are a good number of things that require practice and refinement over time.  It’s a personal process that cannot be delegated.  It is the faster track to getting results in brokerage with listings and clients.  (NB – you can get our free commercial real estate course here)

 

So why is this so important?

There are many ‘top agents’ in a location be that a suburb, town or city, and they are all chasing the same new business across sales, leasing, and property management.  Your recommendations and solutions offered to your clients and prospects should be well considered and clearly displayed.  Your ideas have to be better than that of your competitors.  Can you stand out in that way now?

Your solutions have to be better than the others that are put to the client and that are available.  Expect the client to seek presentations from other agents as they work through their property challenge, and before they make a listing decision. 

Your pitch has to be better than the others that are out there; you should be perceived as the professional that people need.  Practice is required to achieve that status.  If you pitch your services comprehensively, the ‘exclusivity’ process is much easier.  Exclusivity is critical to market domination.

 

Practice your skills on key matters

Through your career in brokerage, you should practice your skills and strategies in a number of key disciplines.  You can put that practice into your real estate business through personal disciplines, team meetings, and role playing.  That specific practice will help you with deeper market confidence and better levels of communication; both are important factors when it comes to converting the client to your ideas and recommendations.

So let’s get this important business education underway.  Here are some strategies to help you get that practice incorporated into your real estate business:

  1. Listing pitch – Given the pressures of the current market, what are the better ways to list a property today to get faster outcomes in sales and leasing? That question has to resolved in any client presentation.  Your listing presentation can be supported by research, computer based aids, statistics, and case studies.
  2. Marketing solutions – Have some clear examples of other properties listed today and recently that have been taken to the market, and show the client exactly how the campaign and marketing process was critical to the challenge and the outcome reached.
  3. Negotiation alternatives – Every deal can be closed in a number of ways. Show the client how one negotiation stalled; also show them how another was resolved.  Put yourself into the solution as the facilitator of the positive outcome.  Stories will always help you with client communication.
  4. Vendor paid marketing – Show several examples of local property promotions where vendor paid marketing was the big difference in getting a positive outcome. As a general rule, vendor funded campaigns generally attract and facilitate more inquiry over the listing period, and the time on market is shorter when it comes to a positive result.
  5. Listing refresh – Package your presentation to allow you to refresh the advertising every 2 or 3 weeks. Don’t let a listing stay too long on the market.  Watch the trends of enquiry and tune your property advertising frequently.
  6. Client conditioning – How can you condition a client to the prevailing market conditions in your location? There are many different property challenges as there are clients.  Make sure that you can handle the most common client concerns in today’s property market.

So there are some real things that you can practice here.  Take the pressures of the properties that you work with, and practice your pitch and presentation recommendations.  That practice will help you stand out as the ‘agent of choice’ for the client and their property today.

Branding Solutions for Commercial Real Estate Leasing Agents and Brokers

In commercial real estate leasing you want the tenants and landlords to remember you as a leasing specialist, and thereby use you at the times when they have a leasing challenge.  On that basis you really should know lots of people locally that own or occupy investment properties. Your database should be the lifeblood of leasing commissions and vacancy opportunities. Your brand and your image should feature in your professional leasing marketing plan.

 

You want the tenants and the landlords in the local area to remember you as the industry specialist at the right time and in the right way. The best agents and brokers have a reputation for resolving leasing challenges effectively and directly. The understand how to shape the lease and rental transactions for the best outcomes possible for their clients.

 

Whats happening?

 

Consider the leasing market over the last 12 months. Think about how the rents have changed and the enquiry rates similarly so for the different property types. Somewhere within that change and churn you will have the opportunities for tenant placement and vacancy resolve.

 

The local leasing market will always be under change and churn, and the commissions can be found when you tap into the changes in the property market.  Rents will alter, as will the vacancy factors throughout the year.  An active leasing market will have plenty of opportunities for commission growth. Look for the tenants that need help when it comes to occupancy and premises expansion or change. Ask the right questions, and comprehensively talk to all of the tenants through your business zone or precinct.

 

Know the tenants

 

So the message here is that you can and should talk to plenty of tenants each and every day. Understand what the tenants are thinking and doing when it comes to lease occupancy and rental intentions. Some of those tenants will need to expand or relocate their business operations. Other tenants will be coming to the end of lease occupancy and will be looking for better value from a rental and occupancy cost perspective.

 

The agent or the broker with a comprehensive tenant database will be of great value to the landlords that they serve. Market your leasing services accordingly, using your database as part of your lease listing pitch.

 

Your database rules

 

A good leasing agent will have several thousand local businesses in their database, and that database will be fresh and up-to-date. All of the tenants and business owners in the list will be contacted in an ongoing and complete way. Their leasing status will be changing in the database over time.  Track and measure the changes and the challenges of local tenants.

 

Here are some other ideas to help you build your brand awareness with the tenants in the landlords in your investment leasing market:

 

  1. Comprehensively canvass all of the local businesses within your territory – take an organized approach to buildings, streets, precincts, and property types.
  2. Connect with all of the landlords within the region – some landlords will have a valuable portfolio of prime properties to lease. Work with the landlords that have or offer the most opportunity for you over time.
  3. Offer specialized vacancy resolution services – develop some unique and valuable leasing services to help resolve vacancy challenges and local leasing requirements fast and efficiently. Tenant retention plans, tenant advocacy services, and lease negotiation services are all valuable services to offer to the local area and the people therein.
  4. Provide tenant mix strategies and clustering solutions – office buildings and retail shopping centers have unique challenges when it comes to tenant mix strategy and clustering. The mix of tenants in the building can make or break the growth in market rental over time. The types of tenants can also strengthen or weaken the occupancy within the building over time.
  5. Understand how to improve the value of a lease – a long-term occupancy can improve property cash flow and values over time. The rental structure can include variations in rent reviews, outgoings recoveries, and option periods. Think about how you can negotiate leases with due regard for your client and their investment circumstances.

So you have five ways here to help improve the leasing services that you offer locally.  As a direct result, your personal brand can grow in the local area with tenants and landlords.  That is the best way to build your leasing business.

 

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)