Today the marketing of commercial property is more important than ever before. If you get it wrong as a real estate agent, you can waste money and time. Not a good option in this market.
When selling or leasing commercial property, the marketing campaign is not just an expense; it is a critical part of the property promotion. Vendor paid advertising is not the exception; it is the rule in this property market. You have to get the message out to buyers or tenants as the case may be and vendor paid advertising is the way to do it. Any agent that says that vendor paid advertising is not required to market a property should be deeply questioned by the seller or landlord, and asked to prove why that would be the case.
Vendors should be helped to understand just how difficult the marketing of property is today with so many other properties competing for the same buyers. Vendor paid marketing is the best way to get the message out and the first 8 weeks of doing so are the most important.
The marketing of the property should be as effective as possible today as it will make or break the outcome for the property owner. The marketing campaign has to tap into the target market that is best suited to the property in question.
For this very reason the agents that are appointed to the listing of the property, should do the following:
Show the property owner the critical facts about the current property market that will impact their marketing
Clearly illustrate the best property targets that will suit the property
Tell the property owner what the best features of the property may be to build marketing and inspections around
Show how they can tap into their existing and up to date database of qualified prospects to extend the marketing campaign
Use the internet as a platform for low cost and high exposure listing spread
Create a diverse marketing campaign across a number of media types to spread the message about the property as effectively as possible.
Put a sign on the property to spread the word in the local property market
Get a flyer to all property owners in the local area in case they are considering changing or purchasing more property
Use email marketing techniques to send details of the property into the database of previous enquiry
Call direct all previous people that have made any enquiries in the last 12 months for that type of property
Have the vendor commit to an exclusive marketing and agency appointment for a reasonable period of time to allow maximum promotion.
Give the client regular feedback from all advertising and inspections of the property so they can make an informed decision with regards to price
Choose the best method of sale that matches the market at the moment.
Produce sample and draft advertising for the client to approve before any advertising is commenced.
Choose the best timing of marketing release that impacts the enquiry in the best possible way
Track all enquiries as they come in so the most effective method of marketing is well known and can be optimised for the property owner.
Qualify all enquiries before any comprehensive property detail is provided or property inspections are arranged.
It is easy to see that the real estate agent really does earn their money in this market for the property owner. The marketing of commercial or retail property for sale or for lease is a specialised process.
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