How to Market Commercial Real Estate for Sale or Lease

To sell or lease a commercial property as a real estate agent you have to tap into the target market and do it well. This says that you have to understand that target market in your location before you start the process of promotion. To define a target market is sometimes hard given the relative property.

Ask yourself these questions:

What media will reach the target market in a direct and sustained way?
What is the best time to promote the property to the target market?
What is the capability of the target market to act and purchase the property at the moment?
Why would the target market buy or lease such a property now or at any future time?

These questions lead to critical decisions to market the property. Today we have a selection of media to choose from; some of which are more effective than others.

Consider these alternatives of marketing a commercial property for sale or for lease.

Direct mail
Direct telephone contact
Neighbouring property owners
Businesses in the area
Promotional flyers
Radio and TV

So what method is best? Only you can make that decision when you know what your target market is. The seller of the property should be fully briefed about your definition of target market before you ask for vendor funds to market the property.

It is wise to have a series of say 3 marketing packages from which the client can make a choice. The logic of gold, silver, and bronze marketing packages to promote a property for sale or lease is productive and sensible. At the end of the day the vendor should be asked for promotional funds but in doing so they should be given a choice of how much to spend and in what way.

The internet today is playing a significant part in the promotion of property. It is cheaper but available to all in most marketing campaigns. It has a sustained promotional life and has the ability to capture enquiry for many weeks.

When the enquiry starts to come in, it should be captured and categorised. The value of a great database of buyers, sellers, landlords, and tenants is high in the operation of a real estate office. The more people you know the better the listings and enquiry will be. This is where a team of good salespeople all running an accurate database of well qualified prospects can make a significant difference in the market place.

John Highman is an expert real estate author, conference speaker, and coach. He helps Real Estate Agents globally to improve their property business, market share, listings, and commissions. John is a successful real estate agent himself and has been so for over 30+ years.