Commercial Real Estate Marketing - Steps to Success
© 2009, Brandon Cornett. All rights reserved.
Marketing commercial real estate is not much different than marketing a home to residential buyers. Sure, the property is different. And sometimes the price tag is larger. But the general principles of real estate marketing success apply to commercial properties and residential properties alike.
With that in mind, I'd like to offer a few tips that are specific to commercial real estate marketing and sales.
1. Use Existing Networks
In ever city and major metropolitan area, there is already an existing "attention" network for commercial real estate properties. In 0ther words, there is probably a magazine, newspaper, or website that lists commercial properties. Potential buyers already know these channels exist, so that's where you want to be ... where the attention lies.
Your commercial real estate marketing will be more successful is you leverage existing networks, instead of trying to divert people's attention elsewhere.
2. Increase Your Internet Visibility
You should start your commercial real estate marketing program with known channels, as mentioned above. But it certainly doesn't hurt to create your own marketing channel, and to slowly attract attention to that channel. You can do this by creating a strong web presence focused on commercial real estate in your area.
Combine web marketing, blogging, and search engine marketing tactics to make a highly visible web presence. It will help you market your own properties, and who knows ... you may even grow the site into the premiere commercial real estate marketing site in your area. There's a lot of potential advertising revenue in that, on top of everything else.
3. Match the Marketing to the Property
Industrial properties may not need the ultimate "high gloss" treatment, as far as your real estate marketing materials are concerned. You might get by with bare-bones information pieces to promote this type of property. But a high-end office building requires a bit more polish. As with residential real estate marketing techniques, you should match the promotional materials with the property. Keep the audience in mind, and give them what they're used to seeing.
4. Promote the Intangibles
With every commercial real estate property, there are tangible selling points and intangible selling points. Square footage, recent renovations, new A/C units ... these are the tangibles.
But many brokers forget to mention all of the intangible selling points when marketing commercial real estate property. This might include easy access to parking from the street, proximity to popular lunch spots, a view of a nearby lake, etc.
I hope these tips have given you some new ideas, and I wish you well in your commercial real estate marketing program.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125