Another day, another deal. At least that’s how we all imagine it works, and for some of us, it does. But for the vast majority, there’s almost always a disconnect between the way we expect a commercial deal to run and then there’s the reality of the situation. In an effort to manage those expectations we’re talking through Commercial Selling- your expectations versus reality.
- A robust marketing strategy is key to closing quickly.
- Good storytelling and imagery are paramount when it comes to selling middle-market commercial properties.
- Technology and change are not to be feared and can actually help sell properties faster with greater ease.
- Biproxi can help you with all of these.
Expectations & Realities
This will be easy or a quick sell
The misconception here is that all you need to do is show prospective clients your property, close a sell and toast to your commission. It’s a false image if there ever was one. The reality is many listings are on the market for roughly 120 days. In an effort to shorten that sales cycle you need a robust marketing strategy and the right people to market to. The Shop, by Biproxi, provides users with the ability to target and reach their potential buyers through their robust database and a holistic marketing process that the platform will execute for you at no cost to you. The ability to drop warm leads into your lap will increase the likelihood a potential buyer will submit an offer, reduce heated negotiations and shorten that sales cycle to 30-45 days.
Skyscrapers and hotels
The reality is most commercial transactions are far from glamorous. Industrial buildings, gas stations, small retail properties, and vacant plots of land zoned for business are more likely to make up the bulk of your commercial real estate sales. Be prepared to talk about the potential of what could be on empty plots of land more often than managing deals for massive office developments.
When it comes to these middle-market properties storytelling is paramount and having good imagery to back up your story is imperative. We’re not saying you need to go out and spend a fortune on every commercial listing you have, with The Shop you can find affordable options for photography, drone video, and virtual landscaping. They also have the ability to enhance the images you currently have, free of charge.
Real estate never changes
While the industry has been slow in adjusting to this digital world make no mistake, things change quickly when you’re selling commercial real estate. Just when you think you have a handle on things the city may re-zone an area your client was considering buying in. Lending rules could change which could affect a client’s ability to secure funds for a property. Ultimately, in commercial real estate, anything could change at the drop of a hat and there’s not going to be much you can do about it. With that said, make sure you’re always learning. Staying atop of industry trends will keep you nimble and may give you an advantage when change is on the horizon.
Technology is your friend and understanding how to use it can take your business to the next level. Discovering new ways to streamline your workload will allow you to do more in less time. Biproxi’s unique strategy takes the classic sales approach to commercial selling and blends it seamlessly with its user-friendly platform. Essentially they allow you to do more in less time, taking half the workload off your plate. They locate potential buyers for you using a holistic marketing approach and then drop warm leads right into your account.
Tempering expectations and utilizing the latest tech tools, like Biproxi, can help bridge the gap between said expectations and reality. Remember, having a robust marketing strategy at the ready will get you to the finish line a lot faster than not having any strategy at all. Storytelling and imagery are imperative when it comes to advertising these middle-market commercial properties. Don’t fear technology and/or change because both are inevitable and both have the power to help you. Last, but certainly not least, our goal is to become part of your team by handling the marketing, vendor management, and logistics for you. We’ve developed best in class marketing strategies to help move your listings quicker and more efficiently, connecting you to the best vendors nationwide, without any subscription fees.