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Marketing Tips for Commercial Real Estate

When you work as a real estate agent in commercial real estate sales or leasing, the marketing of the property is a critical issue to create the right amount of interest from qualified buyers or tenants as the case may be. This says that every property should be uniquely marketed based on the unique attributes of the property such as:

  • Location of the property
  • Tenancy mix
  • Anchor tenants
  • History of the property
  • Special improvements and features within the property
  • The notable property owner that may also generate interest
  • Future opportunity from redevelopment or rezoning
  • Cash flow or rental income opportunity

When these factors are individually looked at, they allow the property owner and the real estate agent to make some critical observations and raise some key questions. The answers that you create will allow you to position the marketing campaign correctly, hence attracting the right target audience in the sale timeframes required. It makes the sale a lot easier.

These are some of the key questions that should be answered in or through the marketing campaign structure:

  1. Exactly what is the target market that you are attempting to reach for that property? Why is that different than any other property in the area?
  2. What are the key attributes that the target market is looking for today in an investment or commercial property?
  3. What is the size of the target market given the unique attributes of the property?
  4. What are the key factors that will likely attract enquiry for the property as opposed to any other competing property in the local area?
  5. What story do you want conveyed to the target audience about the property?
  6. What channels of media will produce the best levels of enquiry and how much money should be spent in those various channels?
  7. How long should the campaign be active and at what time of year should you start?
  8. Precisely how are you going to measure the results from the campaign so that adjustments can be made as necessary and when appropriate?

These questions should essentially be answered in every comprehensive marketing proposal put to a property owner or landlord. That proposal will help you significantly towards a successful level of enquiry from qualified property purchasers. In this market, that is a useful process. You can get some more free tips for real estate agents at http://www.commercial-realestate-training.com/

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Sources of Market Intelligence

City buildings on Hong Kong harbour. Cranes in the foreground. Buildings in the distance

When you work in commercial real estate sales and leasing, the amount of market knowledge that you can gain in the local area will give you a significant advantage in any listing situation. The property market knowledge that you need is relating to current transactions both in selling and leasing. They are interrelated and will have bearing on each other.

 

Get to the Sources

The best sources of market intelligence come from:

  • The local news media
  • Internet listings
  • Advertised properties
  • Other property listings and the time that they take to sell or lease
  • Signboards placed on properties denoting market share and coverage
  • Sales and leasing outcomes
  • Zoning and demographic changes in the local property market
  • Buyer and tenant activity by property type
  • Feedback from Sellers and landlords
  • Feedback from parties as they inspect properties
  • Competitors activities with the listing property
  • Time on market
  • Methods of sale and success rates

The best salespeople in the industry are not only good sales, but also very good at leasing property. It is the leasing knowledge that makes them exceptionally good at packaging a sales deal at the right time and in the right way.

So the best sources of market intelligence come from the actual deals being made and current listings, as you talk to plenty of people. That says that the salespeople, agents, and property valuers working on commercial property should be sharing information regards property deals. In only that way can the true impression of market price and market rental be maintained.

All of this information allows you to determine the strengths and weaknesses of the market as they apply to each property type. That can then be a significant advantage as you create the marketing campaigns for each property promotion. It also helps the client to commit to your services based on experience and proven evidence.