Demand for commercial leasing, brokerage, and property management is expected to grow over the next five years.
But unlike residential, commercial real estate transactions take time because it takes work to convince customers. It has a long closing cycle when it comes to completing trades. Much research and planning come up with the right real estate transaction for your client. Commercial real estate agents must plan to mark their place in an extremely competitive market. Targeting the right customers makes for a successful sale or rental, helping you get the desired results.
Targeted marketing tips for commercial real estate agents
Matching real estate listings with the public is challenging, especially in the commercial real estate industry. It would be best if you had a strong marketing effort to understand your customer’s location requirements, budget, and preferences. Here are some tips for targeted marketing to get customers and sales.
1. Highlight the characteristics of real estate
A commercial real estate agent’s first job is to target converted real estate listings to the right audience. After all, you control the market when you show your ads to the right people. The more you reduce your audience, the better your chances of achieving your goal.
Put on your customer’s hat and see what buyers are looking for when selecting and inspecting properties. Tell everyone about the checklist and test details. Find relevant features of the property and highlight them to the public. Address any weakness in the asset before going to market. Get professional help with property photography. Promote newspaper ads, local ads, and online social networks.
2. Create a strong profile on a commercial database
Commercial real estate listing services and trade magazines help buyers and sellers find the right match. While many popular online listing sites charge a fee, some alternatives allow agents and investors to find the right opportunity.
Some of the commercial real estate listing services are-
- Quantum List
Commercial real estate business reviews are commonly read as-
- Domestic real estate investors
- Urban Land Magazine
- Real Estate Forum
Many websites listing these allow qualified real estate agents to add their profiles, expertise, experience, and contact information. This is an opportunity to reach out to millions of customers who visit the website to find a business to sell or rent space.
3. Create a strong online presence
With more and more people searching for commercial real estate listings online, it’s clear that a strong digital presence is required. 92% of buyers start their real estate search by searching for an ad on the internet. Then you must stay active and build your online reputation. Have a website that helps visitors learn more about your expertise in selling commercial properties. List your business name on Google My Business and other local online directories. Create accounts on social media platforms and add customer testimonial videos to increase credibility.
Engage influencers to engage your audience and get them interested in advertising. Use PPC ads on social media, Google, Yahoo, and Bing to target niche audiences. Retargeting ads are for people who have visited your website but have yet to take any desired action. It helps you get them back.
4. Don’t forget traditional advertising
Digital media may have overtaken traditional marketing methods. But people still rely on local newspaper classifieds to sell, buy or rent commercial real estate. Yes, its lifespan is short. But a segment of the public still trusts the press for information. When you run a business, you have to find customers from everywhere. Also, remember to email marketing or cold calling. Even these have the potential to bring you customers and sales.
5. Join network groups
Online communities are a great way to meet people and access opportunities to achieve your goals. Join physical and online networking forums to stay up to date with current trends in the commercial real estate market. They are a great source of new trading insights and techniques to stay up to date. Social media channels like Facebook and Twitter have real estate networking groups where they share advice and support. Providing real support to your team members will put you on a pedestal and gain credibility.
6. Search for customers
Customers don’t come to you. Instead, you need to be proactive and find customers wherever you can. Review listings on online advertising sites like Craigslist and eBay. It gives you information about the seller’s contact details. Reach out to them and offer help finding the right buyer. Talk to commercial real estate developers to learn about upcoming projects and their sales. Researching real estate listing sites like LoopNet gives you an idea of current trends in commercial real estate.
7. Cooperation with commercial real estate consulting firms
Large corporations and businesses interested in investing often seek companies providing commercial real estate services. These are customers who want to buy, sell or rent real estate. By partnering with companies that deal with real estate consulting firms, you get clients directly without having to research them. But the commercial real estate consulting firm will have plenty of agents on its good list. If you want your niche, stay up to date with current market trends and match clients with the best properties.
As a commercial real estate agent, securing clients is no easy feat. Moreover, it is a slow and tedious process. But by implementing the right targeted marketing strategies, you will find more and more opportunities to attract customers and get the desired results.