Commercial Agents – 3 Ways to Bring Buyers to Your Commercial Property

The time on market for your commercial property can be lengthy today unless you understand exactly who you are marketing the property to and what that target audience is actually looking for by way of property type, age, improvements, location, and price.

In simple terms, you need to attract more enquiry from every marketing campaign. That’s what good real estate agents do; it is not a matter of list a property and hope today. Every property today has to be correctly listed and comprehensively promoted. The experience of the agent or salesperson is now more important than ever before.

So, attracting buyers today can be a bit tricky. Defining the target market will help you when it comes to selling every commercial or retail property. When you as the agent set the target market, you then know what needs to be said in the advertisements and on the internet.

The 3 best ways to bring in more buyers to your commercial property are:

  1. Internet listing is the best way to get the message of the property to many people. It is also highly cost effective. When you draft the advertisements, have due regard to the keywords that people use when searching properties on the internet. You can get these keywords from a keyword search on the larger search engines. Every property advert should feature a mixture of dot points of features, and narrative of explanation. A photo of the property will attract more enquiry, so ensure that the images you use are of high quality and have been taken at the right angles.
  2. Signage on the property will be high on the priority of every property promotion. Given that most properties are purchased by local investors or business owners, the signboard gets the message out quickly and effectively. Ensure that the signboard is placed on the property in a position that everyone passing the property can see. Get a special signboard on the property that lists the detail of the improvements and the methods of sale. Make it easy for people to contact you from the signboard by including a mobile phone number for afterhours contact. Always put your name on the sign so that people see you as the local property expert.
  3. Face to face meetings and direct calling of people on your database will be of high value to the quality of the enquiry you create. Today the database of agents is fast becoming the source of the best deals and the quickest property inspections. When you list a property, go straight to the database and find the people that are looking for that property type. To maintain the database, every property campaign and all the enquiries made should be tracked and captured in the database for later use or creation of inspections.

Even though most agents will say that the property market is tough and slow today, the reality is that many agents do not do enough work on their listings to find the buyers and get the inspections under way. When you have just listed a property to sell or lease, that should be the start of the hard work, and not the end of the matter.

Commercial Agents – Tips to Increase the Sales of Commercial Property Today

When it comes to the sale of any commercial property today, there is plenty of competition to contend with. In most cities and towns, there are many good properties listed and being actively marketed. The biggest frustration in selling commercial property today is in finding the right buyers who can act with appropriate finance. In simple terms there are fewer buyers around; the experience and expertise of the real estate agent is more important than ever before in the sale process.

From the outset of the property marketing campaign, the specific target market should be the focus. All of the advertising should be written with a view to the targeted buyer. Clarity is important here.

All of the advertising for the property should be structured around the target and what they are looking for today; the advertisements, promotional material, Internet listings, and direct mail campaigns should all be similarly structured.

To understand this target market ask yourself these questions.

  • Where is the buyer for the property coming from?
  • What is the buyer looking for in selecting a property?
  • How much can they spend and on what terms?
  • What are the real features of the property that the advertising should be built around?
  • What is the best time of year to attract a buyer to the property?
  • What is the best method of sale that will attract the buyer to enquire and then to purchase?
  • What are the negative issues relating to the property that should be addressed prior to the campaign commencing?
  • What are the comparable properties nearby that frustrate the marketing process?

So these questions are critical to the property promotion strategy. The buyers in today’s property market are selective and fickle. There are fewer buyers around and negotiations take longer. That being said, the experience and skills of the real estate agent in the promotion, inspection, and closing of a property transaction is now more important than ever before. Knowledge and practice will help the process.

Every marketing campaign has to address the target market and promote the individual property. The days of generic marketing are gone. Specific target marketing with dedicated advertising that really encourages enquiry should be the main focus of every campaign.

The best ways to increase the levels of enquiry in every commercial property campaign include the following:

  1. The buyers of commercial property typically come from the local area. This means that your campaign should be directed to the local property owners and the local business owners. To achieve this focus, it is best to direct mail and telephone the owners and the businesses that own or occupy local property. Every piece of direct mail should be followed up to optimise the enquiry and the information.
  2. When any property comes on the market, within the first 24 hours ensure that flyers and information brochures are personally delivered to the neighboring properties and businesses within a radius of 500 metres.
  3. Place a prominent signboard on the property at the start of the campaign. This is perhaps the best and most cost efficient way of promoting any property. If possible ensure that the signboard has specifically been created with property information and sale details.
  4. When you draft your advertisements for the property promotion, use the keywords that apply today to the property type and location. These keywords will help the Internet Marketing and Internet listing. You can research the keywords from the larger search engines on the Internet. These keywords will be the words that the buyers of property are entering into the search engines when looking for properties to purchase.
  5. When the promotion of property commences, make personal contact with the database within your office. This means telephone calls and meetings with the appropriate people. The information and leads that you gather from the campaign will be helpful in other property promotions at a later time. All the information should be entered into your database.
  6. E-mail marketing will be a useful tool for every property promotion. Most agents are selectively sending out e-mail marketing each week. Any property promotion can be merged into this process.
  7. To sell a property today, the best method of sale should be selected. That will be the method that buyers respond to and act within. Do not choose a method of sale that can frustrate the potential purchasers. The
  8. Vendor paid marketing remains the normal and sensible alternative in every marketing campaign. Any serious property vendor will commit marketing funds to the promotion of their own property. Always ask for vendor paid advertising to comprehensively cover the target market.
  9. Create an inspection process and strategy that covers the property and its features. Understand exactly how you will take people to and around the property. Identify the right things to talk about with buyers, and get market information to support your presentations or inspections.

Even in this tougher property environment, good properties will sell. It is a matter of the agency working hard to locate the buyers and then promote the property effectively. This is a personal process when it comes to each and every property.

Open listings are generally a waste of time today as they always take longer to sell. Every serious vendor that needs to sell their property should commit to an exclusive listing and marketing campaign with one specialist commercial agency for a period of at least three or four months. If the property is unique then that time line will be longer.

Commercial Agents – How to Support Your Landlords in Leasing

Today there are significant numbers of tenants looking for commercial property for lease even when the market appears tough or slow. Matching the right tenant to the right property is the job of the experienced real estate agent that knows the local area.

Now many an agent will claim that they really know the area and that they have the best commercial properties on their books. I like to ask them to prove it; that’s when the facts come out.

Landlords are well advised to seek the best agent with the best database of tenant enquiry when they need to lease their property. It is a fact that many an Agent has a database, but the database is relatively neglected or not optimized. There is a lot of difference between prospects and clients in a database that are contacted regularly and supplied with good reliable property detail, versus lists of unqualified names that really do not want to be contacted. Clients should ask their Agents just how relevant the database is to the property in question and just how up to date the database is.

A commercial property lease is structured around a number of factors and decisions. These ideas will help you:

  1. Ensure that the tenant has an established history of occupancy and business success. If they have been renting another property, then you can talk to their previous landlord or the property manager involved.
  2. The plans of the landlord relative to the property holding need to be considered before you negotiate a lease. In older properties, this becomes more significant and important. The age of the property will require refurbishment strategies around which the leases should be structured. If a property development is planned, it will be necessary to put renovation and relocation clauses into the lease. The right recommendations need to be made here.
  3. That commencement of the lease should be based on market rental evidence for properties of that type. Look at the entire list of comparative properties in the local area to ensure that you have consistent market rental evidence.
  4. Understand what a good lease should be in the prevailing market conditions. That decision will also be relative to the tenant type and your target audience.

The payment of outgoings will be important to the landlord in the future of the lease. On that basis it will be necessary to consider the best type of rental (net or gross) to help the landlord recover outgoings. It should be said that the outgoings to be recovered should be in balance to other properties of the type that you are marketing.

These are all simple facts that are so important to the leasing of commercial property today. When you really know what is going on in the local area you can put together a great lease deal that attracts the right tenant on a good rental package.