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Commercial Real Estate Marketing – Breaking Through

Written by Posted On Tuesday, 21 July 2015 12:42
A fine example of a great CRE marketing piece. A fine example of a great CRE marketing piece. Steve Baker

Advice for breaking into the competitive Commercial Real Estate Market

There are many factors that contribute to an agent’s break-through and subsequent success in the competitive world of Commercial Real Estate (CRE).  It seems the larger companies that specialize in CRE have carved out their place and I’m sure they would like to keep it that way.  The exorbitant cost for participation in the Commercial MLS’s prevent many talented agents from crossing the great divide between residential and commercial real estate yet few people seem to talk about this disparity openly and simply accept it as status quo.

So how do you compete against the “big boys” when you’re not in their club?  Fortunately for many agents (yes, I said fortunately), the smaller brokerages don’t often have a large volume of commercial listings and their commercial division is either quite small or non-existent.  This void provides a great opportunity for the motivated agent to step in and fill this need.  It also puts them in the position to receive a great deal of referrals from agents inexperienced in CRE or who only deal with residential property.

Perhaps the greatest breakthrough opportunity however lies in marketing.  Not just marketing of oneself but in the approach the agent uses in marketing their listings.  While this opinion will certainly raise the dander of many CRE agents, there is often a lack of imagination and creativity in commercial real estate marketing especially among the smaller companies.  Many are still using boring marketing material with the same flair employed in the late 80’s and early 90’s; some even feel this meets the expectations of their sellers and investors.  I couldn’t disagree more. 

The successful CRE agent will be the one that breaks through this stagnant marketing barrier.  Sellers and investors will quickly take note of the agent who exceeds their expectations and isn’t locked into an old way of thinking and operating.  Today’s CRE entrepreneurs will approach the marketing of their commercial listings with the same vigor as high-end, luxury residential agents. 

Here are just a few tips to get you started.  First and foremost, begin with professional quality photography.  Never skimp on the visuals!  The quality of your photography will positively or negatively impact all your print and digital marketing media.  In today’s CRE arena, many of the agents are still using their point-and-click cameras while the nationally known commercial companies use the talents and skills of the professional photographer to set their marketing apart. 

Secondly, pack your materials with as much detail on the property as possible.  Investors hate having to pull this information from agents.  Give them everything up front and answer their questions before they ask!  Since most buyers begin their search online make it worth their time to give them what they need and the leads you generate will be more likely to become clients.

Next, go beyond the MLS.  Invest in a dedicated webpage for your each of your commercial listings and use paid advertising to draw investors to the website.  Create social media sites for your listings as well.  Many old school CRE agents scoff at the notion of using social media to marketing commercial real estate.  That’s great!  The longer it takes for them to realize the potential of social media marketing the better it is for the forward thinking CRE agent. 

 

You’ve heard this before in residential real estate marketing (hopefully) and it holds true here – color outside the lines!  Think outside the box!  Don’t do what everyone else is doing.  The people that buy commercial real estate are the same people that buy everything else.  Their hopes, wishes, dreams and goals are no different from anyone else investing their money in the hopes of a big return.  Be creative.  Get their attention and be accurate in the information you provide.  Integrity is the key ingredient for long term success.  Make your name be the one that the investor community speaks the loudest.

Steve Baker is a REALTOR® in South Carolina and the Director of Marketing with Rinehart Realty Corporation.  He is co-owner of The Baker Way Real Estate Solutions and author of the upcoming book, “The Essentials of Marketing YOU in the World of Real Estate”, the first is a series of books from his marketing company .YOU MARKETING.

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Steve Baker

Steve Baker is a former REALTOR® in South Carolina and the current VP of Marketing and Business Development for NextHome Platinum Advantage in Rock Hill, South Carolina.  He is a 2017 International Marketing Award-Winning Marketer and the CEO of the real estate marketing and social media management company the Sophisticated Gnome LLC.  Additionally, he is a lifestyle blogger commonly known as the Homebody as a LifeStyle Guy® for Roost + Refuge®.  

www.sophisticatedgnome.com

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