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The Golden Rules of Commercial Real Estate Listing Promotions

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I like to think that every property taken to the market for sale or lease is handled with a direct and deliberate strategy; that is my rule and process, and that is why I will not take on open listings.  As busy as we can be in commercial real estate brokerage, the promotional strategies that we adopt are unique.

 

Every listing deserves the ‘deliberate’ approach to marketing and engagement with potential buyers or tenants.  When you focus on the quality side of our business, you can achieve more results over time.

 

When you look at your average working week, where are the priorities?  There should be only three or four things that you do every day, and those things should take precedence in your business activities.  Sure, other things will have to be done, but the four main things will always take precedent.

 

 

Marketing Rules for Enquiry Attraction

 

So, the marketing process can be refined back to simple rules.  Here are some of those rules that I like to work to:

 

  1. Set a clear target market that applies to the listing.  Where can you tap into that target market?  How can you tune the marketing campaign to reach that group of targeted people?  When you know those answers you can drill down on the campaign timing and media channels to be used.  There are always different and better ways for us to do things.  The clients that we serve like to hear fresh ideas and strategies; that is how you win more listings over time.
  2. Use some different approaches to your promotional processes.  The owner of the property can likely share some stories with you about the property and the location that would be valuable in your editorials and articles about the listings.  A story makes a property more interesting.  Historic properties are also valuable to helping you build a local profile that is different and perhaps specialized.
  3. Build a matrix of marketing that can change and adjust every few weeks.  It takes about three weeks for the first level of marketing to be assessed; from that assessment, you can modify adverts, media choices, and photography.  Every website advert for each listing can be slightly different in layout or property facts.  That then builds the attraction factor for better property inquiry.
  4. Knowing the value of inbound inquiry, look at your listing groups so you can feed inquiry across the locations and the property types in positive ways.  One inquiry can be directed to several properties and inspections.  Do more with your inquiries.  Track your inquiries so you know what is working for you with inbound property inquiry.

 

Take every property to the market with deliberate promotional strategies.  Build some momentum with your listing activity and target marketing.

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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.

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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)

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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.