When you list a commercial property for sale or lease on an exclusive basis, it is important to offer real marketing solutions to the client. The time and the effort that you dedicate to the marketing process will help you lift the rate of enquiry and generate more inspections.
It should be said that any listings on an open list basis should not receive the same amount of marketing treatment from the commercial agent. Open listings are just a process of random marketing when and if you think you may have a buyer or tenant as the case may be. Open listings are something you get when the property owner really does not trust you, or is not fully committed to your agency; either way they should not get much of your precious time.
So lets go back to the marketing solutions that you can provide. As a general rule each listing should be looked at with a focus on a specific target market and how you can tap into it. When you know what the target market is, you can design a great marketing campaign. All of this takes effort, and that’s why an exclusive listing process is a preferred method of property listing.
Here are some ideas to help with marketing commercial property:
- Take a walk through the property with the client as part of the familiarisation process with the listing. As you do this, consider the best ways to take prospects through the property and how you will explain the features and improvements to them. It may be necessary for you to have some form of property information brochure to comprehensively detail aspects of the building, site, or improvements. Look at the property from the aspect of a buyer or tenant and tell the property owner what you see.
- At the start of every marketing campaign, the property should be comprehensively and personally marketed into the local area. This means getting some brochures prepared that fully detail the listed property information, and then taking them to all the neighbouring businesses and property owners. From this process you will soon pick up on a lot of market intelligence that you can use in many different ways. Every good property listing is an excuse to get further market intelligence from the local area. Personal contact is a key to the process.
- The traditional signboard on the listed property remains one of the most effective marketing tools you can use. The signboard should be the first thing that is undertaken in the marketing campaign. If you can get a signboard that is specially designed to incorporate details of the property, then this will give you added benefit and more enquiry.
- The process of listing the property on the Internet is an essential part of the property marketing campaign. That being said, there are specific things that you should be doing personally to build your Internet profile with regard to your property type speciality and local area. You can write blogs and post them on the Internet in a blogging site where you can talk about your experiences with quality property and what people are looking for in todays market. If you do this regularly, the Internet will soon see your name and associate it with the local area and particular types of property. That will help your personal rankings in the search engines; regularity in the process is really important.
- As a general rule, vendor paid marketing is the normal approach with exclusive listings. In this market there is no other way to comprehensively promote each and every quality property. To help with selling this concept to the property owner, it is wise to have three alternative marketing packages separately costed. In this way the client can make a choice; invariably they usually choose the middle priced package.
To market a commercial or retail property today, the expertise and capabilities of the agency and the salesperson are really quite important. Marketing a property today is not an experiment with inexperienced people. Any genuine client will accept your recommendations and allow you to promote the property well.
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