Advertising a property for sale or for lease should be a well constructed process that matches the target market. When you get the balance and message right you attract enquiry which can be captured in a database of information. That is why many real estate agents will build their business on the back of specific advertising campaigns. The bigger your database, the more attractive you are to the clients that need your services.
What should be your objectives in marketing the property? First and foremost it should be to achieve a sale or lease in a timely way at a good price or rent. There are however other considerations that should not be forgotten. They are:
- You should build a solid and long term profile for the property and the agency. That is why your advertising campaign should not just be a once off or random event. Well constructed adverts in a staged promotional campaign are essential. Change the size and type of the adverts as well as the publications used, so that you are reaching all the channels of interest that captures the target market.
- Choose the key message about the property and then use it to reinforce interest and attitudes towards the property. The message should be consistent and relative to the market and buyers or tenants as the case may be. If the property has a positive history or identity that is well known in the community, then build on it.
- It is sometimes necessary to use your advert to change buyer or tenant perceptions of your property. If the property has been advertised before with other agents and without any success you will need to revisit the advert message and change it to something fresh that will revitalise the interest. The commercial real estate market has a small pool of buyers, investors, and tenants. They all have good memories when it comes to property promotion and history.
- To help the sale or rental of the property you can promote new uses for the building that have not been identified before in other adverts or by other agents. The more creative you can be in these fresh ideas, the better. It should be said that legal use and zoning restrictions should be respected in any claims you make about the property now and for the future.
- Build on benefit and tell a story about the property through editorial. The media editors love a story that can help them sell papers. If this writing is a challenge for you then find a wordsmith that can compile editorial for you.
- Where possible make the property promotion very visual using signboards, internet, paper advertisements, professional photographs, editorial, flyers, direct mail, and email database. When carefully staged these methods of approach will lever out the property enquiry that you need.
The advertising objectives must be a function of the marketing objectives which in turn, is derived from evaluation of your client's problems, targets, and opportunities. It is just a promotional equation and you are the promoter.
John Highman is an expert in investment real estate strategy and performance. He is a keynote speaker and coach that helps property investors, and real estate agents globally to improve their commercial real estate property opportunities and targets.
John has specialised in major commercial, industrial, and retail property for over 30 years. He knows what works and what doesn't. He gives you the 'good oil' on getting active and achieving results.