A commercial property today has to be well marketed if a sales or lease to be gained at a fair and reasonable price or rent. The message about the property just has to reach the target market.
Vendors and landlords of property should be required to invest funds in the marketing process undertaken by the real estate agent. Without vendor paid advertising, the fullest marketing program cannot be achieved.
One key factor needs to be respected when it comes to marketing commercial property. And it is the first three weeks of the marketing campaign being critical to the marketing outcome. If the property has not generated significant or genuine enquiry in the first three or four weeks of the campaign, then it is likely to suffer a diminishing chance of sale or rent.
Time is critical to the marketing process when it comes to commercial property. There are always buyers and tenants looking for property to purchase or rent. It is the strength of the marketing campaign and the skills of the agent to get the message out to the target audience that really matters. In this way, genuine qualified enquiry can be created.
It should be said that the prevailing economic conditions can frustrate property enquiry, although the buyers and tenants are still out there to be found. This is where the skills of the real estate agent become absolutely critical to the property listing and promotional process. In this market it is the skills of the commercial agent come to the fore.
To market a commercial property for sale or for lease the typical marketing campaign will be based around the following:
Direct marketing letters and follow-up phone calls to business leaders and Property Investors in the area
Direct marketing via telephone cold calls to the greater business community in the area
Marketing through the existing database that the real estate agent should have available
A large and well-crafted signboard on the subject property
Email Marketing of a pdf brochure through the existing database
Editorial in the local paper on the commercial property pages
Adverts in the local paper on the commercial property pages
Flyer distribution to the business community locally
Internet listing on the appropriate commercial real estate websites
Information memorandum constructed for the promotion of the property to qualified parties.
Whilst every agent will say that they use these are marketing tools, the reality is that they use them to a varying level of success. The most effective marketing of commercial property for sale or for lease involves a high degree of salesperson activity and focus. In other words that salesperson has to make direct contact with the right people to follow-up on any questions and potential interest. This is called target marketing and this is why commissions in commercial are generous for a successful result.
The property owner involved in the promotion of property should be encouraged to spend money and not save money in the marketing campaign.