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A Simple System for Commercial Real Estate Marketing

When you have a property to take to the market you will have a number of options to consider as you reach out to the target market.  You can promote the property selectively and directly to the right people, or you could undertake a public campaign to the general market.  So a good degree of strategy is required to find the right buyer or tenant as the case may be.  Understand the listing and the client before you get started in designing your marketing campaign.

 

Drill Down on the Property Facts

 

You are the professional person to establish the promotional strategy, and then make the marketing campaign work.  You can do things generically, or you can drill down into the real facts of the market and the property; your choices here are critical to the end result.  Your marketing choices are really important to the resultant ‘time on market’ and price or rent achieved.  When you help the client understand those facts, the conversion of vendor paid marketing funds is a lot easier.

 

A property marketing campaign is a bit like a sales drive, and that process will be supported by the many promotional tools that we have today both online and offline.  Sometimes you can use gimmicks to attract the attention of the buyers and tenants in your target market, but the end resultant inquiry will usually be driven by the facts of the property zone and the listing itself.  It is a personal selling process.

 

Professional Systems in Commercial Marketing

 

You are the professional to take a property listing forward, so convert the listing exclusively for a good period of time, and then match the promotional campaign through a deliberate mix of advertising strategies including geographical concentration, marketing message, and target marketing.  Here are some ideas to help you do that:

 

  1. Understand the client first – What does the client want to achieve, and what must they achieve in the marketing of their property? You should understand those facts.
  2. Inspect the asset – When you comprehensively understand the asset, you can penetrate the targeted segments of buyers and tenants. Don’t do things generally.  Promote with focus and significance.
  3. Resolve problems and challenges – Every property will have issues; some of those issues will be real hurdles in the marketing and promotional process. Resolve those property problems before you go to market.
  4. Comparable properties – Check out the competition and the other listings in the location. See if there is any conflict with other properties in the region and adjust your marketing efforts to encourage inquiry given all of those other properties still on the market.
  5. Marketing alternatives – Understand the promotional tools at your disposal for the property and then make the right choices to get the property out into the location or target market of buyers or tenants.
  6. Focus the budget and the campaign – Achieve target market coverage. You can cross sell and promote all of your listings, providing you really understand the strengths of each of the listings; cross selling is a great concept in commercial real estate brokerage. When you work the target market comprehensively, there is a reasonable chance of gaining inquiry inertia and better results with all of your properties listed.

 

Take these marketing ideas, and apply them to your clients and commercial listings.  Upsell your services where possible and cross sell your listings where the inquiry allows; do more with less, that’s the rule.  There are good commissions to be converted in commercial real estate today; there are plenty of business owners and investors looking for a property resolve.

 

A blanket approach to your listing territory and your property segments will help you to get to know the right people in the right way.

(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)

 

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Create Your Own Cool Marketing Brand in Commercial Real Estate Brokerage

Personal branding in commercial real estate is quite important.  At a personal level you can be a ‘cool brand’, and that by definition is someone that is good to know and an expert in their field of real estate and in the location.  On that basis clients and prospects will seek you out at the ‘go to person’ for solving property problems. You could say that you then have real ‘market attraction’.

This image will help you with listings and growth of market share.  Are you up to the challenge?  Let’s look at this a bit more.

So how do you create this very special image as a top agent and expert in your field?  Prospecting will help you a lot, but in saying that you can add some rules and processes to the prospecting process.  There is no point in being ordinary in our industry as you will just fade into the already large group of other brokers and agents; every listing pitch will then be a competitive event.  Consider these alternatives:

  1. Ideas person – many properties and clients will be unique and challenging.  For that reason you can be an ‘ideas’ person to help solve the complex property situation facing the client.  Every exclusive listing should be handled with a high degree of creativity in marketing and promotion.
  2. Great negotiator – some properties are challenging as to the complexity of the sales contract or property lease.  Make sure you have enough knowledge to build the negotiation momentum for your client.  Any hurdles to the marketing of the property should have been resolved early in the property listing process.  Preparation is the key to resolving negotiation issues.
  3. Solution provider – some of your competitors will be quite ‘generic’ when it comes to marketing a property and establishing a campaign.  Your solutions must be better than all the other agents; that’s how you can convert exclusive listings much more effectively.
  4. Stand out in a crowded market – to help you stand out in your area and sales territory get plenty of sign boards into your zone.  As a priority make sure your signs are more effective in placement and detail.  That will mean some vendor paid funds to take the listing to the market.
  5. Commitment to task – many clients will talk of ‘agents that have failed them’.  The fact of the matter is that the generic support for clients with their property today will be of little benefit in converting a sale or lease.  If a property is special then you should provide special ideas and momentum to the promotion process.  You can only do that when the client has given you an exclusive listing.  Can you convert more exclusive listings?  If not, why not?   Set yourself a challenge to list only exclusive listings of a quality nature.

When you review these points, apply them to your own personal marketing profile.  How do you match the image?  Can you do better?