When you have a commercial or retail property for sale or lease today, the marketing process is really important. The message about the property and its availability just has to reach the local area and the target market of buyers or tenants as the case may be.
The days of generic marketing in commercial real estate are well gone. We are the specialist local real estate agents to find the right people to buy or rent the listed property. All of that being said, it takes real effort on our part to do this; finding the right parties to inspect premises today is a skill.
For this very reason your efforts of personal property marketing should be devoted only to the exclusive listings on your books. Open listings are a waste of time and if any of your open listings sell or rent, it is a factor of luck.
Top agents will walk away from ‘open listings’ on the basis that the client has not committed to the agent; you cannot trust clients in those circumstances. If a property owner wants to sell or lease their property, they should be serious and committed to the task.
One special note should be made here that all clients today on exclusive listings should commit to the marketing process by providing vendor marketing funds to the agent.
Here are some more ideas to help with this marketing effort:
Local area bias should occur with most of your listings. Over the years in most areas you will see that contracts and leases largely occur with local business owners and property investors.
Yes, I know that there are exceptions to the rule with ‘out of town’ buyers or a tenants sometimes entering the area, but generally speaking it is easier to market locally to the people that know the area and the property.
Signboard placement on the property will remain a key component of property marketing. If you can get a special sign placed on the property then do so.
As soon as the sign is placed on the property, visit the other local businesses in the street and the neighbours that occupy nearby property. Every new listing is an excuse to talk to local people.
Internet and website listings are an important part of property marketing today. Most people and businesses that are looking for properties and premises will check out the internet. For this reason choose your property descriptions and advert layout with care. Get professional photographs taken to help the process of attracting the enquiry.
Simple strategies of marketing like these always work in commercial and retail real estate. You will find out more information and get more leads when you take the right property marketing steps.
By John Hester