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6 Factors of a Sales Drive in Commercial Real Estate Brokerage

city buildings under construction

At different times of the calendar year there will be good opportunities to run a sales listing drive.  As part of that you will be choosing the best methods of marketing and sale.  Business and investor sentiment will also have something to do with the choices made here.

(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 you have some sales listings?  Maybe you want more of that?  Either way, here are the main factors of opportunity to tap into as you drive the sales momentum forward locally:

  1. Timing for season and location – look at the property activity for the year, and reflect on the history for the area. Most sales calendars are best commenced just after the Christmas break and also just after the change in the financial year.  In each case you have a few months to build momentum on listed properties, and the people looking to buy are not generally distracted in local business issues or holidays.
  2. Best methods of sale for the time of year – you have a few methods of sale at your disposal. Choose the right ones that match the property and the client’s needs.   At the basic end of the equation you will have auctions, tender, expressions of interest, and sale at a price.  One or more of those methods will be the right choice for your listing.  Talk to the client and get their commitment to your recommendations; explain the issue to them, and convert them.  Match some vendor paid marketing into the right method of sale, and the exclusive listing process.
  3. Talk to the right investors and property owners – every listing will be more or less attractive to certain segments of the local property market. Find those people by directly target marketing at an individual level.  Get involved separately in doing that.  Make sure that you meet with the right people in the right places.  You want them to know you and remember you as the industry professional that they require.
  4. Repeat contact 300/90 – in our industry, regular contact will always help listing momentum and conversion. All of the people in your database should be spoken to regularly.  The 90-day cycle works well.  The way to achieve that level of contact will be through deliberate calls, letters, and meetings.   The database that you use should be adjusted to bring up that 90-day process of contact automatically.
  5. Use valuable and relevant marketing methods – if you have a commercial property to sell, the marketing message has to get out effectively and directly. Establish a comprehensive campaign process with all of your listings. Stage the campaign and adjust the promotional text and advertising frequency mid-term for refreshed inquiry.
  6. Track your streets and location progress – when you have anything to sell or market, review the streets and the competing listings. Get very involved in local area marketing.  Know what is happening in the streets and do something with that knowledge.

These simple strategies are all relevant and special in the sales drive that you may create in your commercial real estate business.  Optimize the process of promotion and property momentum.  The first few weeks of any sales campaign are the most important.  Get involved and get active.

(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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Create Some Marketing Suspense in Commercial Real Estate Advertising

persons eye
Attract the interest of people in commercial real estate marketing.

When it comes to promoting a commercial property for sale or lease, try to put some suspense and anticipation into the property campaign.  Get away from ‘generically’ marketing, and be very specific in your promotional efforts.

Know the Property

Look at the property for what it is and the strengths that the property provides over time for the buyers or tenants.  Understand the target market for each exclusive listing so that you can really tap into creative marketing processes that pull in the right segments of people.

Ultimately you want a reasonable level of property enquiry with every exclusive listing; from that you will create inspections and lots of them.  How can you do that?  In simple terms you look at your property and build the marketing campaign or plan using relevant promotional leverage.  You then implement that promotional plan.

Your Promotional Plan

Here are some ideas to help with promoting your next high quality listing:

  1. Give your property a name or identity – If there is some history about the property or the location, you can use that information as a point of leverage and branding in your advertising copy. People relate to a story.  The history of the property is likely to have a few stories that you can use in your headlines, feature points, and editorials.
  2. Set the time for the campaign – Start the property promotion at the right time of year or month. Seasonal holidays and business cycles all put pressures into property promotion.  You want the right people to see the advertised property so start the campaign at the right time of month and on the right days of the week.   The campaign can be ‘rolled out’ in a staged way using ‘early release’ information, and then primary promotion coverage.
  3. Use the right media channels – When you really understand your target market you can choose the best media channels to tap into your segments of buyers or tenants as the case may be.
  4. Personal involvement – Put yourself into the staging of the property promotion. Tell the client what you will do personally to get the message about the property to the right people.  Most top agents win more property listings because of the promise and strategy they offer in personal involvement.  In exchange for that personal involvement you should insist on exclusivity with your listings for a reasonable period of time.
  5. Implementation and control – Every good property campaign will be implemented to a plan and controlled to a strategy. Every stage of the property promotion will be watched for both strengths and weaknesses.

Marketing suspense in commercial real estate sales and leasing is something that is created through the deliberate planning and effort of each listing broker.

You can get more tips for commercial real estate brokers in our eCourse right here.