Your property has value. You want to make sure that you market the value that you property has. Often times this doesn’t mean the price. The value of commercial property is often in the other tenants, the location, and the location being in the exact targeted area that the tenant is looking for.
Who is Watching Your Back?
Listing agents are duty-bound to protect the landlord’s interests. If company managers only works with listing agents, they must rely on their own wits to protect the company’s interests. This creates a decided disadvantage at the negotiations table, as only the landlord is represented by professionals familiar with the process. Read more…
Sales & Marketing Integration
Look for greater integration of Sales and Marketing teams. Real estate advisors for landlords who are great at marketing will rise to the top.
As the market becomes more competitive on the demand side, real estate advisors who want to help landlords fill their vacancies are going to need more than a good rolodex.
Those who understand the value of positioning an asset and can work with their marketing teams to execute impactful, creative and aligned marketing and sales programs will enjoy rental premiums and faster uptake of space. Read more…
Remember that commercial real estate transactions are still about interpersonal relationships, first and foremost
While the commercial real estate industry has been slammed by some for its lack of urgency with regards to adopting the latest technology, there’s more than one reason for the disconnect. The lack of a tech renaissance that many feel the sector should be undergoing right now can be attributed to more than just a resistance to change. The major players in commercial real estate are the ones that cherish the value derived from mutually beneficial business relationships. Read More…
Make it Easy, Tell a Story, & Create a Hook
Every investor has a set of deal parameters and they are looking for properties that meet their needs. Your goal should be to make it easy for investors to filter your listing through their criteria. We are all overloaded with information, but your marketing package should make it very easy to get the deal points quickly.
In addition to making the high level deal points easy to find, telling a good story is the key to a great commercial real estate marketing package. Your marketing package should contain more than just a set of facts. It should persuade the reader to learn more and ultimately make an offer.
Every listing has a story and it’s up to you to tell it. How do you do this? Consider a half-leased property in a secondary market. What’s the story behind this sale and why should a potential buyer be interested? Perhaps the high vacancy is due to mismanagement and the new buyer could dramatically improve the occupancy. This story turns what looks like a problem asset into an opportunity for a saavy investor.
What’s the hook? In marketing this is often called the unique value proposition or the unique selling proposition. What’s unique and desirable about the property you are selling? Does it have a diversified mix of credit tenants that provide rock-solid income? Is it the only property located at a major intersection?
Every investor has a set of criteria that they filter potential properties through. Some investors need stable income, others want a certain type of tenant, or a certain number of tenants, or sometimes it’s a particular property type or location. The point is that potential buyers already have an idea about what they are looking for. The purpose of the hook is to find people who want what you are offering, and then pull them in to learn more about the story behind the property. Read More…
Make sure and take Warren Buffets advice when you are looking to market your commercial property.
“Risk comes from not knowing what you’re doing.” ~ Warren Buffett