Saturday, October 19, 2013

Marketing Alternatives for Commercial Real Estate Brokers

real estate agent in car.
Develop your marketing system in commercial real estate.

In commercial real estate brokerage, there are various marketing alternatives to be used when it comes to the property listings we work with.  The same can be said for the personal marketing process for you as an agent or a broker.  Utilizing the right marketing tools in a systematized way will help you with generating the listing inquiry you need, and building your personal brand locally.

So let’s look at the marketing alternatives that are available for you at a personal level in promoting your professional skills as an agent or a broker.  Consider the following list of strategies:

  1. Most of the clients and the prospects that we work with will choose an agent or a broker for personal reasons usually centered on factors of confidence, relevance, and professional skill.  All of your marketing methods should spread this clear message in a comprehensive way.  Generic marketing simply doesn't work.  There are far too many agents and brokers in any town or city for generic marketing to be of any benefit at all.  Every marketing message that you send out should be quite specific with the target market in mind.  What do they want to hear about and what can you tell them?
  2. The traditional signboard on an exclusive listed property remains a very powerful tool for marketing today.  Any quality property exclusively listed and promoted with a signboard will direct a lot of inquiries back to you.  The most successful agents and brokers in the industry today are those that control the listing stock and have lots of signs in the territory.  The way to do that is through exclusive listings.  Your sales pitch or presentation should be suitably structured to win listings on that basis.
  3. Every exclusive listing should include a marketing package that is vendor funded.  If the property owner is serious about the need to sell or lease the property, they will be serious about spending marketing funds to help that process occur.  Every marketing package should be specifically designed for the property to attract the target market correctly and effectively.  When this is done, you generate a lot more inquiry for a quality property.  Over time that allows you to build your database with qualified prospects.
  4. To a large degree the clients and the prospects that we work with will choose an agent or broker based on personal activity and personal skill.  On that basis you can and should build your personal prospecting methods directly with the people that need your services.  Regular ongoing contact with those people at a frequency of once every one or two months will help you establish relevance.
  5. The social media process will help you with interacting with your database.  That being said, remember that some of your clients and prospects will have little interest in social media and will still rely on the traditional methods of personal contact and personal marketing.  Make it a priority to get in front of the right people on a regular basis use social media for those that interact with the process, but include the traditional methods of direct marketing as part of your prospecting model.
  6. A special note should be made regards the use of the telephone is a prospecting tool.  When used correctly, it will help you generate meetings, follow up on opportunities, and create leads.  Every day you can use the telephone to contact new people in a simple and direct way.  To make this work for you, research is required.  Make it a target to contact between five and 10 new people every day via the telephone; each evening you can do the research required to get the necessary telephone numbers together.  From that the initial telephone approach with these people, you can establish valuable meetings and send out more brochures.

Put yourself into the marketing process; that’s what this industry is all about.  Get to know more people personally at each and every opportunity.  Use your business card as the principal method of marketing in any meetings, telephone calls, and written correspondence.  Make it a target to send out or handout at least 10 business cards per day to new people.