When we as real estate agents advertise commercial property for sale today, we simply have to create more enquiries given that the available buyers in the market are generally more selective and negotiate a tougher deal. They know the market; they are not going to give the agent or the seller an easy time.
The buyers of property today have done their research in the local area and will have generally checked out the available finance for their property needs. That then says that they will also have limitations on making an offer to purchase a property. Qualify these buyers before you get too excited about the enquiry.
Here are a few tips to use when considering a property marketing campaign:
Vendor paid advertising is a critical component of the marketing strategy to be adopted. A genuine vendor will commit to their own marketing campaign hence allowing you to tap into the best levels of property enquiry. Approximately 1% of the property price should be devoted to a correctly constructed vendor paid marketing campaign.
Traditionally the buyers for commercial property still come from the local area. This means they can be local businesses or local Property Investors. Most of your marketing should be directed into the primary area of enquiry and that will be completely local.
A signboard on your property remains the most effective marketing tool available. It is cheap and effective. When you are seeking to dominate your local territory as the commercial real estate agent of choice, the signboard numbers factor will be critical.
The traditional process of marketing your property in the newspaper media is still useful although limited. Newspapers only have a life cycle of approximately three to five days when it comes to inquiry from property marketing. The internet is quickly replacing the property pages of the local paper.
Direct marketing of the property through your database remains the most effective property enquiry process you can adopt. This will mean telephone calls, emails, and direct mail. The qualified enquiry within your database will always be of high value to the property sale process. Make sure your database is up to date and that the prospects contained therein are fresh and qualified.
Every property enquiry across all your property listings should be captured into the database for cross reference into other properties as they become available.
Devoting a special part of your database to the local businesses and business leaders. Businesses are the foundation of tenancy cash flow for Investment Property. Business leaders will be a source of future property opportunity across sales, purchases, and leasing.
When you devote your full efforts to your marketing strategy for each and every property owner, there is a better chance of good property enquiry, better inspection numbers, and hence a real chance of a property offer.
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