Commercial Brokers – Setting Top Priorities in Commercial Property Sales

two men walking across street talking
Prepare the commercial listing for sale.

When it comes to preparing for the sale of a commercial property, it pays for you as the real estate agent to work to a plan and overall strategy.  This is even more important when it comes to working with many exclusive listings at the same time.  When you overlook a small factor of detail in any campaign, it can have a major effect when it comes to attracting property enquiry and inspections.  Here below are some tips from our Newsletter.

Every property type should have a specialised sale check-list that relates to all the issues in preparation for marketing.  Within that list you can add the locational factors there are important to your town or city from a marketing perspective.  When you prepare for the sale of the property, you create more enquiry and on that basis valuable negotiations.

So the main focus here is to attract the interest of the buyers to the property.  Preparation is the key.  Understanding the property, the local market, and the client will help you in the preparation process.

Here are some ideas to help you with the sale preparation process.

  1. Plan the marketing campaign using the best promotional tools that suit the property and the market conditions.  Every exclusive listing should require special consideration and treatment.  Understand the best processes of marketing that will attract the right levels of enquiry from potential buyers.  Get personally involved in your marketing campaign at a local level.  Take the details of your property listing to all the nearby businesses and property owners.  That should occur at a personal level through door knocking and direct telephone calls.
  2. Understanding the target market and the ways that they can respond to the campaign.  If you are dealing with a special segment of the market, get involved with their publications and business groups.  Don’t simply rely on the advertising process to create the required levels of interest.
  3. Check out the competing properties in the local area so that you understand the factors of price and overlapping marketing.  You may need to adjust your property promotions to compensate for these other listings.
  4. Understand the client’s pressures and priorities when it comes to selling their property.  There may be special considerations involving the tenants, property access, presentation, and maintenance.  Walk through the property with the client as part of the sale preparation process.  Document any issues that need to be actioned or controlled prior to the commencement of the marketing.
  5. Build a list of qualified prospects from your database.  There will be people to talk to and take to the property from your existing contact list.  In many respects this can help you with the necessary feedback and marketing adjustments at the early stages of the campaign.
  6. Get some property inspections going early in your campaign.  Use your short list of contacts from your database as part of this process.
  7. Focus on the first four weeks of the campaign to create the best levels of interest and activity.

So there are plenty of things to do here when it comes to aligning the property to the current market conditions as you attempt a sales strategy and campaign.  When you get more listings coming in and you are generating plenty of enquiries, the sales checklist process will help you stay on track and therefore not overlook the critical stages of promotion.

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By John Highman

John Highman is an International Commercial Real Estate Author, Conference Speaker, and Broadcaster living in Australia, who shares property investment ideas and information to online audiences Worldwide.