In commercial real estate agency today, it is a fact that most of the marketing results that you will get will be locally based. For this reason, it is very much the case that every property and every listing should be extensively marketed locally. That is where you will find the buyer or the tenant.
The suggestion is that you should focus at least 75% of your marketing effort into the local area. That is with both the marketing for each of the property listings, and also for you as a commercial or retail property expert.
At a local level you will achieve far more results for the given amount of marketing and advertising effort. It is also a lot easier for you to talk to the changes and events in the local area when it comes to property trends, prices, and rentals.
Here are some ideas to help you with that promotional strategy in commercial and retail property sales and leasing.
- Local businesses are the backbone of the industry when it comes to property occupancy or ownership. The local businesses and or their proprietors will tell you so much about the local area, the neighboring properties, and the changes in the precinct. This market intelligence is invaluable; on that basis your objective should be to meet with many business owners on a weekly basis. That will require cold calling and prospecting in a systemized way.
- Local property owners are always interested in hearing about the changes to property occupancy and marketing likely. Finding and speaking to those local property owners can be a real challenge. The basic problem is that they can hide behind company structures and property trusts. Identifying them is the first problem, and then speaking to them personally as the next. That being said, they should feature as part of your prospecting model so that you can build your local database over time.
- Work around your listings at each and every opportunity. Every new listing that you get in your territory, town, or city, should be personally marketed to all of the adjacent property owners and business proprietors. The ratio should be about 50 to 1. This suggests that you should talk to 50 people around each single listing. The amount of local market information and intelligence that you get will be very useful.
- Work around other agents listings on a regular basis. Most other agents will simply put a sign on a property and not do the necessary surrounding precinct marketing. When it comes to the listings of other agents, any adjacent businesses and or property owners may like to compete with the listing nearby. That can then be an opportunity for you. You can feed enquiry off your signboard given that it will be seen by those parties that inspect the other agents listing.
- Signboards are very important when it comes to local marketing. As a general rule, signboards should be placed on every listing. Your name should feature on the signboard to build the personal branding reputation that you require. When you get more signboards into your territory, you will get more enquiries.
- Internet strategies are quite unique when it comes to local property marketing and commercial real estate agency. You can do some very specific things to build your reputation locally as the expert with your property type and location. Some of the most effective Internet strategies for commercial real estate agents are blogging, article marketing, twitter, Linkedin, and Facebook. All of these initiatives are individual and personal to the particular salesperson. You can build a very good online presence when you integrate all of these factors into an ongoing marketing campaign. The secret to the process is in regularity of posting and local relevance.
When you take the above points and shape them into your personal marketing campaigns, the branding that you will achieve will be significant. That will then help you build more listings and of better database.