Realtors face challenges left and right in the commercial sphere. From office inefficiencies holding back deals, to expensive vendors cutting into profit margins, the struggle to (profitably) sell commercial listings can cause major headaches for any brokerage firm—no matter its size or experience.
It’s about more than just finding a buyer and closing escrow; if you want to be the best broker in business, you need to build a digitized network of qualified leads, create highly attractive listings, and drive a selling price that keeps clients coming back for more.
The secret to success lies in an effective commercial real estate (CRE) marketing plan. Strategized CRE marketing is the ticket to streamlining leads, closing quicker deals, and getting more impressive results.
We’re here to share commercial real estate marketing strategies that are guaranteed to drive growth, as well as provide information on how you can use our innovative technology to solve the struggles setting you back. Keep reading to learn more or jump ahead using the links below.
- Commercial Real Estate Marketing Plan
- Commercial Real Estate Marketing Tools
- Marketing Commercial Real Estate with biproxi
Commercial real estate marketing plan
A brilliant marketing plan is pivotal to the results you’re after—it’s how you’ll narrow the scope of your CRE strategy to attract more leads. Every property is unique and deserves its own attention, so you’ll need to toss out any “one-size-fits-all” model and carefully come up with a CRE marketing plan for each new listing acquired.
How do you write a commercial real estate marketing plan?
Need some help brainstorming your commercial real estate advertising moves? Get your game plan going by asking yourself the following questions:
- What’s the unique selling point? There are handfuls of properties buyers can choose from; your goal is to position yours as head and shoulders above the rest. The key is to identify the listing’s unique selling point (USP), or the sizzle that makes it stand out on the market. Maybe it’s the panoramic ocean views, a wide-open floor plan, or a competitive asking price. Whatever the USP is, be sure it is placed front and center throughout your marketing campaign.
- Who is your target audience? A small business owner searching for a brick-and-mortar retail space is very different from a corporate professional hunting for commercial offices. It’s critical that your CRE marketing strategy reflects these differences, including everything from where you advertise to how you communicate. Is there industry jargon you should brush up on? A hand-written note you could send? Identify the target audience and adjust your marketing accordingly.
- How will you find buyers? There are many commercial real estate marketing services you can use to bolster your listing and attract leads, but they’re not one-and-the-same. Some vendors will try to push expensive subscription services that lack cost-efficiency, while others are missing the necessary industry experience and know-how to drive your success to its fullest potential.
These three questions are critical in CRE marketing when it comes to creating your plan of attack. They help you formulate a goal—whether that may be driving a top-dollar price in a newly gentrified neighborhood, or closing at lightning speed so your client can reinvest their capital gains into a new property with you at their side.
At the end of the day, your success depends on your client’s success; that’s how you earn more trust, win more deals, and make more money. That being said, you are running a business and it’s crucially important to keep profit margins high, especially at smaller brokerage firms that experience increased vulnerability to market volatility.
It’s wise to strategize the biggest bang for your buck and minimize out-of-pocket costs in order to keep a larger portion of your commission. At the same time, you can’t cut corners and must be careful that no detail gets overlooked if you want to keep clients happy.
To compete with the big players, without forcefully shelling out a huge cut of commission at final sale, cut out all the middlemen, close all those opened tabs you’ve been using to get the job done, and partner up with a vendor who can serve as a single touchpoint for all your listing essentials. It’s the best way to streamline communication, control quality, and access CRE marketing tools for one fair price.
Commercial real estate marketing tools
Which commercial real estate marketing tools will you use to execute your strategy? Your kit should be stocked with essential technology that you can leverage across all campaigns, no matter the size. Take a look at some must-have tools brokers use to secure their success when marketing commercial real estate.
- Intelligent Real Estate Data – You need accurate information to back up your asking price. Buyers can try to talk your seller down all they like, but at the end of the day, facts are facts and they won’t be able to dispute hard numbers. Find an analyst platform that can provide you with a nuanced understanding of the local market based on the recent lease and sales comps, then use the property data to glide your client and support the set price.
- Graphic Design Software – To truly persuade investors, you should create a visually-striking Offering Memorandum (OM) that clearly conveys value. Include key details such as market trends, cap rate, NOI, and effective rent. Don’t forget to add your firm’s logo and branding so that anyone who reads the OM views it as a one-of-a-kind package.
- Drone for Aerial Footage – When marketing CRE, brokers are tasked with selling thousands and thousands of square footage. Prospective leads want to know what it looks like, but capturing the entire property within one photograph is nearly impossible—unless you have a drone. Aerial photos and videos can display its full size from every angle so that buyers clearly see the impressively large space.
- Image Editing Software – To play in the big league, you’ll need to showcase your property in a sleek, polished presentation. Make your listing shine with all the bells and whistles by combining your premium aerial footage and real estate photography with advanced image enhancement. This type of software is what will distinguish your brokerage firm as best-in-class.
- Social Media Material – Advertising commercial real estate over digital domains is non-negotiable in today’s 21st century, so be sure to maximize your visibility across all relevant channels. Build branded digital flyers, social media templates, and promotional marketing material to get the buzz going.
- Appraisals, Evaluations, and Assessments – Even with the best visual assets in your arsenal, many prospective buyers will require raw numbers to be convinced. That’s why some brokers will use a commercial real estate appraisal as a tool to back up your asking price—but be sure to enlist an MAI-certified appraiser who uses real-time data. With advanced market narratives that consider utility, scarcity, desire, and effective purchasing power, your buyer will have a hard time asking you to come down on price. A Property Condition Assessment (PCA) that leaves no detail overlooked can also help close deals faster by instilling confidence in your buyer.
Stay ahead of the curve using high-tech CRE tools to give yourself a competitive edge, earn more listings, and close more deals.
How do you advertise commercial real estate?
Hanging a “For Sale” sign on a property front is hardly enough to get the job done, and promotional flyers alone probably won’t generate enough exposure to attract leads. Selling commercial real estate online is the best way to advertise because it maximizes visibility and enables you to back your listing with sophisticated data to drive better results.
You can draw analytical insights to weed through the traffic and target the hottest leads, making your CRE marketing efforts much more effective. Brokers are busy people who lack the time to sort through prospects, so it’s smart to lean on a software platform that can do it for you. That way, you can quickly create and launch a two-tiered marketing plan: first, advertise commercial real estate to pre-qualified buyers who are ready to pull the trigger on a property; then, conduct reach campaigns targeted at your specific audience to attract new buyers and generate untapped interest.
Be sure to build out intelligent campaigns across all relevant channels, including email, social media, paid advertisements, and print. A robust, comprehensive approach will make the phones start ringing and emails pour in. Nurture your leads through every step of the process as you usher them further down the sales funnel.
Finally, remember to regularly analyze your commercial real estate marketing strategy, vetting its success, and optimizing it with new CRE tools until the property sells.
Marketing commercial real estate with biproxi
We were built for brokers by brokers who have spent years studying cutting edge commercial real estate marketing strategies. If all that sounds a bit too labor, time, or talent intensive, partner with us instead.
With biproxi, you get a team of CRE pros, talented designers, and brilliant marketers in your corner who can handle every aspect of your campaign. You only pay for the services you need, giving you greater control over your price point, and you only communicate with us for all your administrative needs—saving you time and efficiency by cutting out multiple vendors for various jobs.
Brokers sell better with biproxi. Contact one of our agents to learn how we can improve your business, too.