How to Effectively Market Commercial Real Estate
Effectively marketing commercial real estate relies upon staying updated with the latest CRE trends. Agents, brokers, and investors who are savvy to this information will likely break records in their markets.
Here are a few key points on how Topside Real Estate maximizes exposure during the marketing process.
- Differentiate your building. Office space has become a commodity, so landlords must identify what their competitive edge is.
- Define the details. Properties marketed as 5,000 to 20,000 square feet or at a rental rate of “TBD” will often be overlooked. Transparency will increase interest in the available space.
- Conduct a comp analysis. Market rents will be based on recently leased or sold comparables. However, these comparables are not so simple to get, as landlords and agents are reserved in sharing this information. Agents can help provide this information, which is essential to maximize return.
- Market the property as it is. Don’t get creative. If you are listing office space, market it as office space. The previous trend of selling older buildings under the marketing spin of “creative office use potential” will deter interested parties.
- Pay for professional marketing. Your marketing brochure will be a client’s first glance at the available real estate. A poorly executed marketing strategy can result in financial loss – Not only will fewer potential parties engage, but they may be more aggressive in their negotiations. Therefore, pay for the professionals to complete the following:
- Photos: Seek out a photographer with a good camera, photoshop, drone, and video capabilities.
- Graphic Designer: Find someone who creates quality maps, floor plans, and potential renderings.
- Content Writing: Focus on developing straightforward, concise content that will increase your audience’s attention.
- Identify your target list. Identify a list of businesses (SIC codes) and executives that should be introduced to the property.
Execute Your Marketing Strategy
Maximize lead generation by executing a full digital marketing campaign. Focus on workflow and create consistent brochures, marketing signs, marketing boards, banners, etc. to complement your digital marketing efforts.
Use Listing Services to Market Your Property
Focus your money and efforts on a handful of listing services. We at Topside recommend the following:
Implement SEO Best Practices Throughout Your Marketing Campaign
If possible, work with a professional to maximize the property’s accessibility and searchability. And always include a call to action, providing a simple way for interested parties to connect with a knowledgeable representative for the property.
Don’t be a victim of current market conditions. Although reports may instill fear in property owners, the reality is that transactions constantly occurring. Landlords just need to adjust their mindset to compete in today’s market and implement a more competitive marketing platform that will provide them with the upper hand.