When you work as a commercial real estate agent specialising in investment property, you are constantly looking for the best way to market the properties you have available for sale and for lease.
By definition the marketing of the property is the process that is undertaken to attract the right type of enquiry for your listings. That enquiry could be from tenants, buyers, or investors. It could also be from the local businesses in the city or town in which you are located. Without enquiry you will find it very hard to make commissions.
Every commercial real estate property will have its own target market whether the property be for sale or for lease. It is the job are the real estate agent to identify the target market and to attract the right levels of enquiry.
Far too many agents today list a property on the internet and then wait for the enquiry to come in. The enquiry today is far too fickle and selective to be treated in a general way. The best agents will create the enquiry and chase down the right types of buyers or tenants as the case may be.
The marketing processes of property are varied and many. There are some that work better in particular locations and at different times of year based on the target market that you are attracting. That being the case it is necessary for you to understand the types of enquiry that’s available today and know how that enquiry can be encouraged.
The best way to attract the enquiry today is through a comprehensive marketing campaign across a number of channels that comprehensively cover the target buyers and tenants. Here are some ideas to help:
The Internet is fast becoming the most efficient and effective way to market any form of commercial or retail property. Not only is it cost efficient, but it comprehensively covers a very broad marketplace from the local level right through to the international buyers and tenants. That is why the identification of the target market is critical before the marketing campaign commences. You really do have to know where the buyer or tenant is coming from and design the adverts and the campaign around that.
As strange as it may seem, the signboard on a property still remains one of the best ways of creating local enquiry. The signboard is cost effective and is seen by so many local business owners and property investors. That is why agency territory domination and market presence is usually created through signboard presence. When a signboard is placed on a property it pays to contact all the adjacent businesses and property owners personally.
To a large degree a lot of property listings should be more effectively and personally promoted by word of mouth and direct meetings. This says that every listing that you get should be actively promoted by you the salesperson into the local area with meetings and telephone calls wherever possible. Nothing replaces the high value of personal contact. Make the calls and meet the people.
E-mail marketing to your database on a regular basis will always generate opportunity and enquiry. The database remains a critical component of your business processes and profile. Every salesperson should have a database of several hundred prospects in the local area. The database should be kept up to date through constant contact, meetings, and telephone calls. Nothing is more frustrating than to see one of your contacts approaching another agent and to then list their property with that agent.
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