In this commercial property market, vendor paid advertising is absolutely essential. If the vendor will not commit to a vendor paid marketing campaign, then they are not truly interested in the sale or the lease (as the case may be). There are far too many properties on the market at the moment for any property marketing campaign to be generalised or cheapened. Any agent that offers to pay for the marketing of a commercial property is really buying the listing and is unlikely to fully commit to the intense marketing that the property deserves.
How Do You Sell Marketing Campaigns?
The best way to convince the property owner to move towards vendor paid advertising is to give them some alternatives such as three levels of marketing and promotion. A simple strategy of the marketing being split into gold silver and bronze packages will give the seller that choice.
To market a property today the promotional campaign needs to be quite comprehensive and directed at the right target market. Most marketing campaigns should be split into the following categories:
- A signboard on the property is absolutely essential to support the local area enquiry.
- Standard direct letters and flyers into the adjacent and nearby business community.
- Phone calls to the qualified people within your database
- Advertising in the newspaper media on the days that are devoted to commercial and retail real estate
- Internet Marketing on your website together with the generic industry based websites
- E-mail marketing including electronic newsletters with suitable download links and pdf files
- Direct mail to the Property Investors and business leaders that you have dealt with before
All of these strategies take time to develop and initiate. They can only occur on an exclusive listing basis. Any property owner that chooses to open list their property will be doing themselves an injustice given that most agents in an open list scenario do not service the listing effectively or intensely.
Be prepared to ask for the exclusive agency and support it with a strategy of vendor paid target marketing. In that way the property owner will achieve the market penetration that they require.
Even though this property market is challenging and somewhat difficult, the property enquiry is still available with most listings. You simply need to market the property effectively and make the necessary personal contact.
You can get more tips for commercial real estate agents at our website http://www.commercial-realestate-training.com/