In commercial real estate agency today every property that you list for sale or for lease should be carefully positioned for the best method of sale or leasing approach. Some strategies are better than others.
Given that most towns and cities today have an abundance of available properties for occupancy or purchase, the right choices need to be made when it comes to marketing and promotion with each of your lists.
A generic approach to marketing is of little benefit to the client or the agent. Getting the right enquiries and the results in this market today are really important; all of your efforts should be considered accordingly.
Here are some ideas to help you with marketing strategies today in your local area and with your property listings:
- Every listing that you pitch for should be positioned for an exclusive listing. Ensure that the property is of quality and is attractive to the prevailing market and its current inquiry. When you take an exclusive listing, you have something to work with when it comes to the client, the property, and the negotiation. In an open listing situation you have little control and other agents that can affect your offer or negotiation position. In most open listing situations, you can not rely on the client to give you full and complete information of their intentions and the property.
- As part of considering the listing of a particular property, define the target market that should apply in each case. Show the client how you will be connecting with the target market, and personally put yourself into the marketing process. I go back to the point that you can only do this with exclusive listings. If the client only gives you an open listing, then place a signboard on the property and list it on the Internet. That is all that an open listing descriptes. Certainly do not waste much of your time on the listing unless you have a qualified prospect that can inspect.
- The property will have particular improvements, services, and amenities that are suited to the target market. Construct a consistent message that features the property correctly to the targeted audience.
- Every exclusive listing should be subordinated to a professional photography process. Those photographs should be ready prior to the campaign commencing. It is a known fact that you will get much better inquiry from an advertisement when you feature professional photographs taken correctly. The cost of the process should be borne by the vendor as part of vendor paid marketing in the listing process.
- Review the property with the client to devise a strategy to the inspection process. In larger and higher quality properties, this strategy works successfully when it comes to creating interest in the property from tenants and buyers. Consider how you will move in and around the property with any potential qualified prospects. Consider also how you will provide them with further information relative to the property and its capabilities.
To successfully market a commercial or retail property for sale or for lease, take care with your marketing strategies and decisions. When you put the effort in to the correct promotion with the appropriate message, you will get more inquiries and ultimately a better outcome for the client.