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Commercial Real Estate Agents – Advertising Strategies for Marketing Properties Today

When it comes to advertising and marketing a commercial investment property for sale today, the message has to be conveyed with accuracy and timeliness.  The limited number of buyers available for the given property promotion means that every marketing campaign has to be specific and focused.

As commercial real estate agents, it is our job to provide the specialized marketing activity that this property market requires.  Gone are the days of generic property promotion.  Top agents thrive in tough markets.  They do the right things at the right level for the best result.

We have to do more with less when it comes to marketing property today.  The enquiries that we get from the typical advertising activity are limited in quantity and quality.  The client needs to be conditioned for negotiating with limited levels of offering.

It should also be said that most decisions to purchase the property take longer to negotiate and finalise.  It is in this property market that our skills as specialist commercial real estate agents become more important than ever before.

We simply have to be at the top of our game across all the stages of listing, marketing, negotiating, and processing.  Every sale and every negotiation needs to be nurtured across the line.  Complacency has no place in this property market today.

The advertising strategies that we adopt will help us generate the best enquiries possible in the prevailing market conditions.  Here are some ideas to help you with that marketing activity.

  1. Check out the subject property fully to understand the best target audience that you should attract as part of the marketing.
  2. Walk through the property yourself to understand the features of the property that should be incorporated into the property inspection.
  3. Review any competing properties in the local area that will have an impact on your marketing campaign.  Inspect those properties from the street so you understand what they have to offer and how they are being marketed.
  4. Check out the time on market factors that apply to the listings in your local area.  Determine why those properties have not sold, and upgrade your strategies to offset any problems that could exist.
  5. Do a keyword search on the Internet search engines.  Refer to the property type and your location.  You will get a list of keywords that are currently being used by people looking for property purchase.  Those keywords should be entered into your advertising material to boost the Internet exposure and click rate.
  6. When you have listed the property for sale, see it as an excuse to talk to all of the local property owners and business proprietors.  In this way you will get a lot of leads and opportunities coming back to you.
  7. Every marketing campaign should be staged using vendor paid advertising funds across a period of time.  Each week you should be checking your progress from the campaign so that you know where the best enquiry is coming from.
  8. Stay in contact with the client at all times so they know how the marketing is progressing and what enquiry is coming in.  The same rule applies when it comes to inspections from any prospective buyers.  A client that is fully briefed during the marketing effort is inclined to accept your recommendations when it comes to negotiation at a later time.

Give your full focus to the marketing effort with every listing.  Over time that will help you improve your market share and database.

Get more tips on commercial real estate in our Newsletter right here.

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Commercial Real Estate Agents – Sources for Mailing Lists and Direct Marketing

When you start your career in commercial real estate, you need a mailing list and a database to build the opportunity that you require.  From day one, you should be compiling and growing those lists at every opportunity.

The top agents in our industry are successful principally because of personal relationships and networking.  Most top agents have a comprehensive and accurate database that they work with the every day.  That is why you should start the process as early as possible in your career.

Given that you have nothing to start with when you commence your commercial real estate career, here are some tips to allow you to grow your lists and improve your networking.

  1. The easiest place to start is with the local business telephone book.  Commercial real estate is centered on the business community in many different ways.  Changes to occupancy, property usage, property location, and customer growth will always create flux and opportunity within the business community.  On a daily basis, you should be connecting with at least 20 business people from the business telephone book.  As to how you choose to do that is really up to you, however the cold calling process or the drop in meeting approach will work.
  2. Get some plans and drawings associated with property ownership through your territory.  Over time you can systematically work through those plans to identify the property owners in each case.  That being said, this process takes time and there is a significant amount of research associated with identifying the property owner.  Set yourself a target of two property owners a day to be researched as part of this process.
  3. Drive through the local streets containing the active business community.  Write down all of the business names and telephone numbers that you can see on a street by street basis.  Record those details into a spreadsheet on a street by street basis.  Over time you can work through this list of contacts and business identities.
  4. Visit the larger properties in your area that will contain a number of tenants.  Check out the directory boards in each of the properties to make a list of tenants to contact.  The easiest way to do this is through taking a simple digital photograph with your cell phone.
  5. Business groups, community groups, universities and colleges, and business seminars are all opportunities for you to network and gather business cards.  The advantage of the business card is that it will usually be retained rather than discarded.  It is perhaps the single most powerful tool that you have to assist your marketing efforts.
  6. Your website will give you an opportunity to grow your database.  On your website you should have some offer of free information in exchange for contact details.  You could have a special report available to assist commercial property owners to understand the strategies behind property purchase.  The report will be of interest and therefore drive some greater enquiry from your website.
  7. Previous clients and contacts will allow you to expand your communication opportunities with referrals.  Get back in contact with these people to open the door on referral opportunity.

Building a contact mailing list today is not hard.  It just takes consistent effort and a system to keep you organized.  There are other things that you can add to this list over time.  Importantly the system should drive new opportunity your way at the right time.  Establish your mailing list and start to build a relationship through it.

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Commercial Real Estate Agents – Commercial Property Marketing Tips for You Today

When it comes to marketing a commercial property for sale or lease, you can improve the results that you get through some simple steps and strategies.  Gone are the days of generic marketing.  Every advertising dollar needs to be optimised.  Property enquiry just has to be created for the best possible result.

Here are some tips that can be applied to the property marketing process in your area and by property type.

  1. Review all competing properties before you form an opinion on price, rent, or marketing method.  There is no point in repeating problems or errors that others are making in property marketing.  Check out those other properties for price, rent, and enquiry.  Your marketing strategy needs to be better so decide what ‘better’ means from your new listing perspective.
  2. The first 3 weeks of your marketing effort are really important, so decide what will be done in that period of time and monitor the results.  Use a ‘Gantt’ chart to establish your processes for the client.  The chart will help them see what you will be doing and when.
  3. Keep the client fully briefed through each part of the marketing effort.  You should have vendor paid funds for that property promotion, so spend the money as part of an agreed marketing and advertising effort.
  4. Every enquiry that you get should be qualified and then put into your database.  Over time that database will be a key component of your business processes and networking.
  5. The internet is a really important part of every marketing effort today.  Search out the ‘keywords’ on the search engines that are being used for property enquiry today.
  6. Local businesses should feature in the early stages of the campaign.  A quality listing is a great excuse to talk to the local business people and see what they know or may be looking for when it comes to a property move or upgrade.
  7. A good signboard will help the property effort.  Get the signboard onto the property as early as possible.  When that occurs, talk the nearby property owners and investors.  You will get a lot of market intelligence that way.
  8. A ‘high end’ property advertising campaign is something that builds brand and identity.  Tops agents use ‘high end’ campaigns to create enquiry from the local and regional area.  This then says that all of your campaigns will strengthen your identity as a good agent if you let the marketing set a solid benchmark of quality and relevance.  ‘Ordinary’ is not a good word when it comes to property marketing.

Commercial real estate is a people based business.  When you really understand that fact, you will know what you should do every day as part of building your momentum in property marketing.

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Tips to Focus Your Commercial Real Estate Marketing Efforts

When it comes to the marketing of commercial property today, the focus that you create through the campaign will help you build the enquiry rate and the inspection profile.  It directly follows that a well-constructed campaign will give you a lot of leads and opportunities, regardless of the current and existing property market.

The fact of the matter is that far too many commercial properties are generically promoted and advertised.  The features of each and every property should be identified and optimized in each marketing campaign.  Those features should consistently flow through all elements of the marketing campaign.

Here are some tips to help the strategy behind your next marketing effort and property listing.

  1. What are the best days of the week to advertise commercial property locally?  To some degree, the answer will depend on the attributes of the property and the target market.  Commonly it is found that property marketing is more effective between the days of Wednesday to Saturday on a weekly basis.  The fact of the matter is that you should know what days are better for your property promotion activity.
  2. Defining the target market will help you with the layout of the advertising campaign, the features to be promoted, and the channels of media that you want to use.  In most cases, the Internet will be high on the list of marketing alternatives.  It is both convenient and economical to use the Internet as part of the campaign; to gain maximum penetration on Internet based adverts use keywords associated with the property type and location.  You can get these keywords from search engine research on a weekly or monthly basis.  In that way you will stay ahead of the enquiry trends to the search engines and utilise the correct words as part of your advertising format.  Most people enquiring regards properties for sale or for lease will go to the Internet first before they lift the telephone and talk to local property agent.  Keyword optimization will help you with your enquiry rates from each property listed on the Internet.
  3. Professional photographs are critical when it comes to property promotion.  If you want your advertisement to stand out efficiently and effectively, devote part of the vendor paid advertising campaign to professional photographs.  Professional photographers know when to take the photographs, and how to make the property features stand out.
  4. Inspection feedback to the property owner should occur after every property inspection.  This is both a conditioning process and also a communication advantage when it comes to helping the client see the trends of the local property market today, and how they will need to adjust their thoughts on price or rent as the case may be.  This naturally assumes that you are getting inspections from your advertising.  If this is not the case, have a serious look at your property promotional strategy and revisit the plan for any modifications that can occur.  There are reasons why enquiries do not come to you.  Resolve those reasons quickly and effectively at the earliest possible time in any property promotion.
  5. Test and measure every marketing campaign on a twice weekly basis.  This will normally be on a Wednesday and a Friday.  Observe the results that you get from every media channel and property advertisement.  Test and measure the layouts together with the placement of media.  In your location, some promotional processes will be more effective than others when it comes to commercial and retail property.  Make the right choices, and the enquiry will come to you regularly and directly.

When the property market is slow and tough, the marketing process becomes even more critical.  Every property listing that is exclusively promoted should be subjected to scrutiny and strategy throughout the entire campaign.  In this way you will be a top agent producing the best results from every listing on your books.

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Advertising Strategies in Commercial Real Estate

city scene at sunrise

Advertising and marketing is the only way of getting many people interested in a commercial property in a short period of time. The more that people know about the property, the greater the chances of someone liking it, and wanting to buy. When you can get people to like a property, the higher the asking price can be, and the greater the potential for genuine enquiry.

Although some Commercial Real Estate companies pay for the advertising themselves (and the vendor gets what he or she pays for; little or no advertising and poor results).

Anyone could put their property to auction for a free market valuation, with an impossible reserve price and no intention of selling.

real estate prospecting
Commercial real estate prospecting system for agents and brokers

 

Getting the Marketing Message Right

Selling a commercial property is a business transaction and a joint effort. A vendor who spends money to make money is a genuine seller. The newspapers get the advertising money, in return for which the vendor receives AGENT SERVICE, EXPERTISE, LOYALTY AND BEST EFFORTS.

If a commercial real estate auction company paid for the cost of advertising for each property on their books, (say 200 properties) their classified and display advertising costs would be over $50,000 per month!  They would quickly go out of business.

 

Know Your Marketing Requirements

In choosing an advertising budget, the vendor should carefully consider what the advertising is required to achieve. The more advertising that can be done the better for the client; more people will know of the property and its availability.  Give the client some marketing campaign choices as you pitch for the listing and ask for vendor paid marketing funds.  When you take the comprehensive approach, it is hard for a client to ignore the marketing story and the need for them to commit to the promotional campaign.

THE CHIEF CONCERN OF A VENDOR SHOULD BE TO FIND A SOLUTION TO THE PROBLEM OF HOW TO GET FULL EXPOSURE IN ORDER TO ACHIEVE THE MAXIMUM PRICE FOR THE PROPERTY.

Individual advertising budgets in Commercial Real Estate are tailored for each property. Agent’s commission, legal fees and advertising costs are often paid for in just one higher bid at auction. (As a guideline, adequate advertising costs should be approximately 1% of the value of the commercial property being offered for sale).