Get Your Property Into Their Hands
In commercial real estate, and particularly industrial property, when you have a vacancy or sale issue to deal with time is critical when it comes to attracting tenants or buyers as the case may be. You want to get your property into the hands of the right people in a timely way as they consider future occupancy needs and investment requirements. There are no shortcuts and specific promotional strategies are required by the Agent or Broker.
The marketing message that you create for your industrial property should be solid and specific. That will require an exclusive listing campaign supported by the dedicated efforts of a specific and skillful property agent. It should be said that not all agents are equal; the same can be said about marketing strategies and marketing coverage.
When it comes to selling or leasing any industrial property don’t choose the agent with the lowest commission rate or smaller marketing costs. Choose the best agent who can comprehensively cover the market through specific efforts and promotional processes; costs are secondary to any agent appointment. Ask plenty of questions to understand exactly how that agent will take your property to the tenants and buyers as quickly and effectively as possible.
You only have a short period of time at the beginning of any property campaign to spread the message quickly and effectively in the target market. Within 6 to 8 weeks the property can become stale and unattractive to the target audience. From the very start of the campaign it is essential that the marketing message is specific, timely, and on track when it comes to sensible rentals and correct prices.
The marketing message and the method of sale or lease should be quite specific to the outcome required. Here are some ideas to help you get your property into the specific targeted segments of buyers and tenants:
- Mix your marketing activities between online and off-line promotions.
- Vendor paid marketing will be required as part of the comprehensive promotional process. Any agent that tells you otherwise is not genuine or committed to getting a positive outcome on the part of the client.
- Have your agent determine the key message and strengths of the property to be built into the marketing message and advertising copy.
- Define the target audience specifically and determine how promotional process will tap into that audience of tenants or buyers. Generic advertising is required and that’s why listing exclusivity should be given to one agent as part of the listing process.
- Every marketing campaign should be tracked so that it can be adjusted over time. The marketing message can be adjusted every 7 to 14 days.
- Ensure that the advertising in the online Internet portals shows variation between the different portal websites. In other words there should be two or three different types of advertising message.
When it comes to promoting your property, the right decisions with the agent appointment and marketing will help greatly when it comes to shortening the time on market and price or rent outcome.