When a client or prospect comes to your commercial real estate office for a meeting or to make any property enquiry, there are different ways to extend your services and advertise your property solutions. ‘Point of sale’ advertising is normally thought of in retail shop situation, but it can also help you in attracting enquiry, listings, and more commissions over the long term.
Think about what you can do in the reception area of your office. How can you spread the news about what you can do as local commercial property specialists? Exactly what do you do for property owners, landlords, business owners, and tenants?
Your services can and should be promoted in your reception area as well as in any meeting with prospects and clients. Your business marketing material should support the process.
Ideally you should have a reception area that contains ‘point of sale’ brochures and information about your current property listings but also the various services offered by you and your team.
Here are some ideas for development and placement of that ‘point of sale’ material:
Local property agent profiles of all your team will be of interest to the people as they wait in the reception area for any meeting or in making an enquiry. All of your staff should have personal profiles on specially prepared marketing material in reception. Add to this a business card stand for all members of your team.
All of your exclusive listings should be displayed in the reception area on display cards or similar featured display stands.
Have a few specially prepared guides to help the different types of people that come to your office. The guides can be written from the angle of sales, investment, leasing, tenant advocacy, and property management.
Research material relating to the local property market will be of interest to most people. Include details of sales, rents, supply of space, demand for space, and vacancy factors locally.
Remember to provide a few examples of great marketing campaigns and quality properties that you have worked on in the past. Show that you have been successful in the past and that you are agents of skill and knowledge.
Plenty of quality photographs of local well known property will also keep the reception area interesting.
All your marketing material should be consistently branded in colour and form.
Include some forms in your reception area for clients or prospects to fill in their contact detail; make it easy for them to request information in both email and hard copy form. All genuine contacts need to get into your database with the supporting information of what property type and location is relevant for each person or group. The standard form should reflect the essential local detail and ask the right questions.
A real estate office can really be a vibrant place that sells your knowledge and expertise. Use these ideas and others to spread the impression that you truly are the great property people that you claim to be.
The marketing of commercial real estate today is more important than ever before. Limited levels of enquiry from buyers and tenants mean that the local real estate agents need to capture, inspect, and close sale or lease transactions from less numbers of people. For this reason a systemised approach to marketing is the best way to promote every commercial or retail property.
Systemised marketing generally only occurs with exclusive listings. In this way the agent can devote sufficient time and energy to the promotional process. Properties that are openly listed across a number of agencies are really an exercise in luck and agents should not devote excessive time with these properties.
Here are some rules to the property marketing process:
Vendor paid marketing is more important today so that sufficient momentum can be built into the promotional period. Many vendors find it difficult to part with extra cash as part of the listing process. If they are genuine, the decision will not be hard. The real estate agents need to be prepared to sell their services around this model.
You can provide the vendor with alternative marketing packages. Generally three marketing packages are sufficient to provide suitable selections to choose from. The alternative proposals provide different levels of costings. The property owner can then choose the package that they can afford and yet still receive adequate impact in marketing the property.
The best methods of marketing should include Internet, newspapers, direct mail, signboard, brochures, cold calling, e-mail marketing, and database. Your choices here should be based on the defined and chosen target market for the property. Understanding the best ways to reach the target market will allow you to formulate the campaign correctly.
The methods of marketing should match the methods of sale or lease. If you choose a timed method of sale (such as auction, tender, or expressions of interest), then the first three weeks of the campaign will be very important to build momentum. At least half of the marketing funds will be spent during this time. Do not commence the marketing campaign without the vendor funds being paid by the client and received by the agent.
Track all the responses that you get from the marketing methods implemented. You will then know exactly what works well and then you can use that marketing method to more effect. As part of that process, you can report to the client every few days to give them a progress report on the marketing and any inspections that are arranged or undertaken.
The marketing of commercial property when undertaken correctly will shorten the time on market and optimise the levels of enquiry from suitable buyers or tenants as the case may be. Commercial real estate agents today need to be very skilled in the marketing process.