You can win more local property business if you are a ‘target marketer’ for a location. The clients that we service in commercial real estate like to have the best agent with the best market coverage working for them in every way possible. Random actions and the generic approach to the real estate business no longer works. A top agent needs to be specialised and targeted in the actions and marketing efforts. (NB – you can get our commercial real estate course for brokers right here)
A good agent has to have some special processes of driving the real estate listings out into the property market and to the tenants or buyers as the case may be; not just relying on advertising online and in the newspapers to do that. Only the ‘open’ listings of the market dictate a generic approach to marketing and client contact.
Think about your property listings now. Split your listings into the two groups of ‘open’ and ‘exclusive’. Your ‘exclusive’ listings should take priority in just about everything that you do as a broker or agent. Review your marketing efforts and your client contact processes between the two listing types. Are you connecting your listings to the right ‘target audience’? Can you improve those connections?
Marketing Strategies that Really Matter
Let’s get to the facts of how and why targeted property promotions really work. Put your exclusive listings into the process. Here are the most important skills of a target marketer in our industry today:
- Providing the deep and relevant facts – with every listing, take the time to explain to the client exactly how their property sits in the local area by way of price, marketing, and potential enquiry. Do a SWOT analysis so that the client can fully appreciate how you can help them resolve their property challenge in a timely and meaningful way.
- Understanding how to reach the right audience – every listing will have a target audience of tenants or buyers as the case may be. Show the client exactly how you will connect with that audience in a deep and meaningful way. Put yourself into the connection process so that you are the real point of difference when it comes to finding the right people to inspect and negotiate on the listing.
- Creating momentum with property listings – take every listing and create momentum across enquiries, inspections, and negotiations. Soon the people in the local property market will understand that you are the agent of choice when it comes to creating churn and activity with a listing.
- Understanding how to inspect a property to show all the features comprehensively and thoroughly – with all of your exclusive listings, develop a special inspection process to feature the property in both layout and improvements. Create an inspection strategy and explain to the client exactly how that will work in encouraging offers from the right people.
- Building and segmenting a database for comprehensive property enquiry – your database can and should be at the centre of your real estate business. Each and every day you should be creating conversations with the VIP clients within the database, and adding new people to the list. It is a special skill to be refined and developed over time. If you are looking for new clients and new listings now, then review your database activities and your client list. How regularly are you connecting with those people in a relevant way? The top agents of the market know how to drive enquiry and interest from their database and their client list. Put your client list at the centre of your business so that you can find the right listing activity and the right buyers or tenants at the time of change and opportunity.
So the message here is that you can be a target marketer covering the specialized segments of the commercial property industry. In your town or city, review the best segments of the industry and the property types that will offer you the ongoing opportunity that you are looking for.
Look at how the property market is changing in your location and position yourself into the zone as the industry specialist. Market yourself accordingly in comprehensive ways. Let the local business owners and property investors see that you are the industry specialist that they will need when the next property challenge evolves. Help them remember you through deliberate and direct marketing activities.