When you have spent considerable time in finding a new client or a new property listing, the marketing process starts. To improve your commission and listing conversions over time, you should master the art of marketing and develop the science of professional property promotion.
(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)
Be Special in Marketing
There is no point in being ‘ordinary’ when it comes to property marketing today. There are too many other brokers and agents out there for you to take the ordinary approach to the business. Your listings locally should stand out as unique and special when compared to others with other brokerages. You are part of the equation.
It is interesting to note that the best agents in commercial property generally achieve good results in sales and leasing through high level marketing campaigns. Those campaigns are not ordinary in any way. The best channels of media are selected, the adverts are well designed, the photographs are of quality, and the advertising message is carefully crafted. These things don’t happen without deliberate effort and professional skill.
Look for Differences
When you look at the local paper and on the Internet, it is easy to see the differences between professional marketing processes and ordinary property listings. You have the choice of promotion to consider when you take on any new listing and any new client. Can you convert vendor paid marketing funds consistently for the quality properties that you work with? Your ability to do so will help you with your career and market share momentum
The only way to achieve good quality inquiries is through vendor paid marketing. In other words, the property owner needs to commit some of their own money to the property listing and the promotional campaign period.
Best Agent Choices
Give the client plenty of reasons to choose you as the agent to comprehensively target market their property into the best segments of buyers or tenants as the case may be. Tell the client exactly why you are the right person for the job. Show them how you will approach the property promotional processes. Here are some ideas to help you with that:
- Set the target market clearly and effectively for the property. Give the client plenty of reasons why you need to work comprehensively into the target market and tell exactly how you will do that. Put yourself at the center of that marketing approach. The weaker agents tend to overlook the need to put themselves into the listing. You simply provide some budget and some generic marketing statement. If you want to lift your conversions with the better clients and the quality listings, put yourself into a deliberate target marketing approach designed exclusively for the client and the location. The more specific you can be in doing so, will help your listing conversions on an exclusive basis.
- Set a timeline to the promotion. Seriously consider the levels of inquiry that currently apply to the location and the property type. That information will help you set the advertising campaign timeline, and also the strategies behind marketing. Create a timeline visually that you can show the client as part of the property presentation. A simple Gantt chart will help you do that efficiently and directly.
- Use the results from recent sales and listing promotion as a basis of recommendation for your new clients with their new listings. Show them how the levels of inquiry improved through different methods of sale or lease as the case may be. You can then make clear recommendations for the best method of sale or lease to apply to the particular property and location.
- Give the client three marketing alternatives when it comes to the campaign budget and strategy. They can then make simple choices based on expected spend and market coverage. Don’t forget to give them solid recommendations across all three marketing campaign processes. Make it easy for them to make the right choices.
The clients and the property owners that we work with are simply looking for good results in timely ways. They are looking for the best agents and brokers to help them through that challenge and expectation.
Understand the alternatives of property promotion today and how you can improve the target marketing approach for the people that you serve. The best agents for a location and property type are usually comprehensive market in each and every way. Make your property pitch and listing pitch on the basis of marketing uniqueness and promotional professionalism.
(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)
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