The marketing of commercial real estate today requires expert opinion and guidance; That's what a good broker is for. The generic approach to marketing is very dead and generally wastes a lot of time. If any property is to be taken to the market for promotion, then the campaign has to be carefully considered and implemented.
What should be the main objects of marketing commercial real estate today? Try these:
- To create inquiry from the target market segments
- To spread the message comprehensively
- To create action on the part of buyers or tenants (as the case may require)
- To stand out as different, unique and relevant
- To make it easy for people to get more detail and move to the next step of inquiry
When you consider these things with some care it is easy to see that the marketing solutions to be provided to clients and prospects should be well crafted and comprehensive.
Before I go any further I will say that obtaining vendor paid marketing funds today is essential if the total property message is to be spread widely and thoroughly. The sales pitch and presentation process by brokers and agents should be constructed accordingly.
So there are many tools to use in a property promotion. The key issue here is that the right tools are selected in a way that will tap into the target market segments. Far too many agents simply advertise a property on the internet or in the newspaper and hope that something will happen. If life was that easy, many property owners would be marketing their property themselves.
We are the 'experts' of property promotion; we know what buyers and tenants are looking for and when they are doing that. When you truly realise that fact, you can move to the next stages of advertising and marketing with a highly relevant and directed campaign.
Here are some more ideas to help you with your promotional strategies:
- The internet is an important important part of property marketing in both sales and leasing. Consider the ways the advert is crafted and the words used. A combination of keywords (search engine relevant), professional photographs, and local area attraction should feed into the advert layout and message. It takes some significant time to craft a great advert. The time you spend in the 'preparation phase' will reap rewards in inquiry.
- The listing when placed on the internet should feature on a number of key industry portals. Added to that should be the advantage of banner or priority placement. Without that the property will merge into the masses of other properties on the market today. Vendor paid marketing funds will be required for that to occur.
- Place the property on your website with a refreshed listing format and wordage. There is no point in using the same words from advert to advert and portal to portal. Different words and layout will help you attract readership.
- Link your website listing to your newsletter and send out the newsletters to your database at least monthly and preferably fortnightly. Over time the regular newsletter will help you consolidate relevance and 'top of mind' consistency with your clients and prospects.
- Every single property should have a theme of promotion that 'brands' it as unique in the local area or property type. Get a book of 'words that sell' to help you with crafting great advert headlines and featured dot points in all of your adverts.
When you consider that you have spent considerable time prospecting, pitching and marketing your services and properties, it stands to reason that every quality listing should be well promoted. It is the final stage of creating an inquiry and setting up the negotiations that you require.