6 Ways to Get Paid for Commercial Real Estate Marketing

In commercial real estate brokerage, there is a direct correlation between vendor paid marketing and the inbound inquiry you can generate on listings.

NB – Need some ideas?  You can get our commercial real estate brokerage course here.

If you are looking to grow your market share and improve the results for your clients, then you simply must seek and convert vendor paid marketing as part of your business model.  It is the best solution for creating inquiry.  It is also the best solution for getting results for the clients that you work for.

 

Lift Enquiry in Better Ways

 

As the level of property inquiry escalates as part of a dedicated and special promotional program, this is what typically happens:

 

  • Your database grows with quality people calling you on the better listings
  • Better quality listings allow you to speak to active investors and business leaders for the location
  • Your existing listing stock allows you to talk to other local people.
  • You get known as a property specialist for the location and that then helps you build listings with other locals
  • Other local property owners get to notice you as the ‘go to person’ for the location and property type

 

So these are all good things.  Your ability to create vendor paid marketing will help you get started on the road to improved market presence.

 

Revisit Your Listing Presentation

 

What you can do here is put VPA into your listing pitch in such a way that it is hard to ignore or avoid.  Most property owners and business leaders want faster results with their property challenge.  Vendor paid marketing allows you to do that.

 

So here are some ways to sell the marketing message and the requirement for vendor funds in your listing pitch:

 

  1. Vary your packages offered – Most clients like to have a choice when presented with property matters and challenges. Give them 3 different approaches to marketing and advertising coverage (also provide the reasons for the different packages).  When they have choices, the advertising spend gets a bit easier.
  2. Show the value of a timed campaign – When should the campaign start and why is that the case? You should have answers to those questions and feed those matters into the client presentation.
  3. Focus in on a target marketing – Put your targeted buyers or tenants into your campaign and categorize them for the client. That then makes it easier for the client to see who you are chasing for inspections and how you are going to create their interest.
  4. Differentiate between local area marketing and regional coverage (where the property makes it necessary). There are differences in approach for each market segment, so treat them differently in your marketing.
  5. Split campaign focus into primary and secondary coverage both online and offline – When you have done this, you can stage the campaign into segments and points of focus.
  6. Use a private website portal to help the client see your feedback and results coming in – Make it easy for the client to see the results of recent marketing and inspections. A private portal can easily be merged into your website for the VIP clients and Exclusive listings that you have now and those that you will convert.
  7. Put yourself into the property campaign – Help the client see that you are important to the promotion of the property, because you will be doing certain things that are critical to getting results with both inquiries and inspections.

 

From these simple and yet specific things, you can drive better levels of property enquiry.  Look at your listing processes in commercial real estate now and consider how you can convert vendor paid marketing with each and every presentation that you make; your career will escalate faster if you can resolve the equation.

How to Master the Art of Commercial Property Marketing

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:

 

  1. 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.
  2. 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.
  3. 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.
  4. 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)

Simple Formulas for Successful Direct Marketing in Commercial Real Estate

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Don’t complicate the marketing process in commercial brokerage today.  Keep things simple and get out and about locally among the people that matter.  Our industry is based on personal contact and professional relevance.  If either of those things are lacking in your property business, then you have issues and you will struggle to stand out as a top agent.

(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)

Resolve the property challenge comprehensively by and through a process of direct marketing.  That’s how things happen in our industry; everything else is just luck and luck doesn’t do much for market share.

Here is a simple and yet effective process of direct marketing for brokers and agents.  See how you can modify your business skills using some of these contact ideas:

  1. Find new people each day – the best way to get this started is by using the business telephone book (the online and offline versions). There are thousands of businesses in that list for your town or city that you can call direct.  Ideally you just want to know if they have a property challenge or issue where you can help them.  Make the calls and talk to the business owners.  It’s a simple way of connecting with new people.  Some of those business owners will lease the property they are located in, whilst others will own the property.  Either way you get to connect with property interested people.
  2. Create discussions – the people that we class as ‘clients’ or ‘prospects’ are typically business savvy, and they are very experienced with direct business conversations. Master the art of the business conversation using local property information as leverage.  Facts about sales, leasing, listings, developments, and marketing will always create some form of a discussion.  Practice your meeting and call conversations.
  3. Take notes of meetings and conversations – given that you will be contacting lots of people in a location, you will never remember everything that is said to you. Your database has to track conversations and contact processes.  Put your marketing processes into and around your database; you cannot delegate that process.  Take ownership of your database so your prospect list is up to date and growing each day.  Build momentum in direct contact.
  4. Send follow-up material – every quality conversation, be it across the telephone or in a meeting will give you a chance to send out material in follow-up. Choose the right material for the location, and not some generic ‘fluff’ that no one wants.  Be specific and be real in the information that you send out.
  5. Use a database pipeline – a contact today is potentially a listing or transaction in the future. Everything depends on what you do with that contact and how you open up the pipeline of information; your database should be at the centre of that contact.  Relevant local property information will always help you open doors on business contact so create a regular informational marketing process around email, telephone calls, meetings, and referrals.  Consistency and regularity will help you with that.

The promotional marketing process in commercial property doesn’t have to be complex, but it does need to happen.  Keep your direct marketing activities local in focus and frequent in momentum.  That’s what the top marketers do all the time.  Are you up to the promotional challenge?

(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)

How to Track the Valuable Commercial Real Estate Opportunities

Landmarks

Size and quality are the key elements to watch in commercial real estate brokerage. The larger properties in any town or city are likely to be the best targets for new business and property change or churn in commercial real estate brokerage. That is because quality and location will always drive market interest and activity.

The message is?  You will get more inspections from a good quality property, and your database of qualified prospects can grow accordingly.

(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)

So how do you get all of this property market trending started?

Research all of the local properties and build a target list of the better properties; who owns them and what are the factors of attraction with each of those properties?

Yes, I know that a good degree of research is required to get the right property facts, but if you sit back and wait for people to come to you, then the new listings that you really need will be hard to find.

Have a good look at your database. Can you match your skills into those properties and the relative owners?

The process?

Assess those properties for each of the following possibilities to see how you can service the requirements of the quality people that you know:

1. Drill down into an active property type for the location – From historic trending you will see what properties are more active than others. Split your analysis into office, industrial, and retail property. What do you know about each property type? Can you work the segments?
2. Tenancy changes – Some businesses have to move, expand, or contract. They usually consider their occupancy options at the end of financial years, calendar years, and also nearing lease expiry or option. Look at the local business community, and contact all the decision makers in all the larger businesses. I say ‘larger’ because you will typically attract a better quality of client and inquiry from larger corporate clients.
3. Market rent issues and weaknesses – Sometimes the rent in a location or in a building will be too high for a business to survive. In watching occupancy issues, talking to local managers, and door knocking local businesses you will find the people that are thinking about handling a property change.
4. Vacancy factors – Local empty tenancies will impact lease incentives. Either way you can work with tenants and landlords that have vacancy pressures or new leasing requirements. Assess the vacancy factors for your town or city on a monthly basis so you know what is available in space to occupy and what may be coming up in any new property developments.
5. Landlord pressures – Some tenants simply do not get on with the property owner or landlord. That discomfort can be a trigger for relocation.
6. Renovation and redevelopment – Properties that are going through change or getting older will be prime targets for tenant movement. Projections on supply and demand will help you move on the older properties and parcels of vacant land that are ripe for redevelopment action.

The deeper that you look into the property market, the more listings and property opportunities you will find. It’s always the right time of year to look deeper into any property market.

Drive and pitch your own real estate business opportunities through direct marketing. That’s what makes a top agent thrive in any location and economy.