Commercial Real Estate Marketing Ideas

No matter what official reports may depict and economic surveys may show, we all know that there is no dearth of prospects who would be interested in buying a piece of prime real estate. However, supply of land is limited and demand always exceeds it, especially if it is lucrative. So you must be thinking that it is a cinch for real estate owners to sell their offerings at good prices. Well, it’s not always the case.

When it comes to small-sized properties, attracting prospects can be quite a challenge, given the large number of options available in this segment, in the same location. So, how do people dealing in such commercial properties grab the attention of interested parties? Here are a few handy tips:

Cash in on Expired Listings

An expired listing is the easiest way to get you the right leads. Well, the fact that it’s an expired listing clearly points towards some unpleasant issues that have taken place previously, which have left the prospects disillusioned and feeling betrayed by the dealer. This is the best opportunity to win them back, by positioning yourself differently from your predecessors and walking the talk. In fact, you can actually enter the scene as a consultant and then lay down your pitch once you’ve won their confidence.

Start a Circular

If finances are not a constraint, you can approach the newspaper publisher of the target area and get them to print a 2 – 4 page free supplement on current real estate trends and a listing of the properties under your dealership. This supplement can be a weekly one and be dropped along with the main newspaper on a Saturday or Sunday, because a weekend is the time when most people would indulge in the luxury of a detailed scan of the newspaper.

Contact the Owners

One of the best marketing plans is to contact the owners of For Sale by Owner properties directly. You can easily get their contact details from the newspaper or other published advertisements, and make cold calls. However, if you are not averse to some field work, you can take a tour of the target area and make a note of the properties that hold signs expressing the need to sell or rent the property, and then contact the owner in person. Direct contact makes a better impression than random calling, as the owner would have received multiple cold calls. Your meeting him in person makes you likely to be better remembered than the others.

Advertise

This is one of the most conventional but effective ideas for marketing commercial real estate. Make your advertisement creative, yet relevant, and you’ll be surprised by the volume of response. When you advertise, you get contacted by a lot of prospects who are not included in any list or who do not advertise their property themselves. You can also take the help of a bulk mailing list, either existing or newly drawn up, to send direct communication to prospects.

Lastly, cold calling, the most conventional method, qualifies as a workable option every time. However, rather than resorting to it as the primary method, you can use it as an auxiliary strategy to provide a boost to your overall marketing plan.

Apartment Marketing Ideas

There are many people who opt for apartment living for the advantages it has got in terms of affordability and convenience. The biggest advantage is that, in an apartment, there is no maintenance required for the outer space of the house. After the recent decline of the US economy, its demand, both for sale as well as rent purposes, has gone up. Mostly, people prefer having theirs in those locations, where amenities like transport, shops, schools, and restaurants are easily accessible. People with diverse income group and different demographic profiles may want to have one, either for buy or lease purpose. So, the marketing ideas for the same should be developed in such a way that they suit the needs of almost all of them.

Promote

Traditionally, the best idea is to promote them via media like TV, radio, classifieds ads in the newspaper, etc. Balloons, banners, and signs on the property are another ways of promoting it. Make sure that such signs are easily readable from a distance. Student community is a prospective client for renting an apartment. If you are looking for tenants, then distributing flyers in the community college, in the proximity of the property often helps. You can also put up an advertisement in their student newspaper. Today, online searches have gained more popularity than any other medium. Therefore, it is essential that you place ads in the most popular classified sites.

Create Websites

You should use the best of your creative marketing ideas to design an attractive website that contains all the relevant information related to the apartment. It should meet the requirements of both the prospective client, as well as of the current occupants. The important aspects that need to be included for present residents are work under request, community news, online payment facilities for the tenants, etc. It should has a directory that consists of information on school, shopping centers, recreation centers, etc., of the nearby areas. The pages for the prospective clients should have information related to floor plans, amenities, discount facilities, maps or direction to the address of the apartment, etc. Most importantly, there should be an online application form. It is better if the information collected from the client is in an encrypted form for the data safety. All the pages of your website should be linked to the application form. If you put online ads on various other websites, make sure that the ads have a link to the application form.

Show the Apartment to the Client

This plays a vital role in its marketing. First of all, it should be in a presentable condition. If required, do some repair work so that the defects are not apparently visible. Touch up the wall with a fresh coat of paint, and make sure that all the bulbs are functioning. When your client is visiting your office, you have to show the models of the apartment displayed in your office. You can prepare a coffee table book that contains some beautiful photographs of its interior design. Make sure that you highlight its distinguishing features, so that the client gets an excellent first impression. If he finds it interesting, then go ahead and show the apartment. For the renter, it is advisable to show it, instead of showing just the models.

Make Unique Offers

A unique marketing idea is to make arrangements for such offers that target the need of your clients. For instance, arrange for a setup for free wireless Internet access for the residents of the apartment, and you can also make flyers for this offer and put them in places like the nearby local internet cafe. This way, when people visiting these cafes will see this offer, you have a good chance of getting some customers. Those people who are relocating to a new place find it convenient to take an apartment on lease, so that they can find out if they like the area or not, before they think of buying it. Work with reputed relocation companies of your area and give some attractive offers on rent for their clients.

These are some of those ideas for apartment marketing that typically work well for all types of clients. You can develop many more innovative ones on your own that can target a specific group according to their needs and requirements.

Developing Your Real Estate Marketing Plan

You have just begun an ambitious plan of setting up your very own real estate business and you are in need of some marketing ideas. Here are some ideas for people like you out there.

For any kind of business to prosper, what you need, besides quality service, is marketing. It is all about developing your contacts and networking among the populace. So, marketing is the heart and soul of the real estate business.

Market Research: The Foundation

Without research, you cannot understand whom to market your services. You have to identify your target clients and the nature of market dynamics in your area. Know the needs of your clients, identify your competitors, and what kind of facilities they are offering to clients.

You must have a detailed information database of real estate prices in your target areas. Also, make a record of recent sales and purchases in your area, if possible. Once you finish your research, you will know your target clients, interested in real estate investment, their needs, the options to fulfill their needs, the realtor competition, and their tactics. Knowing all these, now you can devise your marketing plan, that will create your contact network and help you in aggressively competing in the field, for your share of clients.

Marketing Ideas

Here are some marketing tips that will help you to net clients.

Business Cards
Business cards, the traditional marketing tools, are still the most important forms of marketing. Personally meet and distribute your agent card in business circles, as well as to prospective buyers and sellers. What people want is a person whom they can trust, to find a buyer for their property or who can find them a place in a good locality, providing help in transactions along the way. Give that personal touch in your marketing, rather than just relying on huge banner advertisements.

Advertise in Newspapers
Internet is overtaking the print media slowly and surely, in popularity. Still, newspapers remain the best options for placing your real estate advertisements. Place your advertisements and listings of properties available for lease and sale, along with your contact number.

Advertise on the Internet
Start your own site on the Internet through web designing, which will have all the detailed listings of properties, which are available for lease or sale. You can even set up an interface, wherein prospective buyers could enter their expected real estate investment demands and sellers can fill in theirs. This way, you can get clients online.

Referrals from Past Clients
Encourage referrals from past clients and provide them with some incentives for the same. If you will offer good service to clients, your name as a good agent is going to spread by word of mouth.

If you keep improving and innovating your quality of service, people are bound to remember you as the guy who got them their dream home. Provide a detailed brochure of information about the locality to clients shopping for a home. You can provide additional value-added services like helping clients to get mortgage loans. This can include photos as well as information about events in the area. Never forget the personal touch.

Hope these ideas have given you some food for thought. You could come up with more innovative marketing ideas, if you really put your thought into it.

Real Estate Marketing Tips

People who are interested in acquiring or selling property, can contact either a buyer’s agent or a seller’s agent respectively. Real estate agents work for brokers, and earn a commission on purchases and sales. Generally, a seller’s agent earns more than a buyer’s agent, since the latter is paid a percentage of the purchase price or listed price as commission, while the former earns a percentage of the sales price as commission. A good buyer’s agent needs to bring down the purchase price of the property, while a good seller’s agent ensures that the property is sold to the highest bidder. Hence, the difference in remuneration. Regardless of whether one is a broker or a real estate agent, one needs to market the investment property in a manner that is appealing to the buyer. The following tips may be useful to Realtors and brokers desirous of clinching a good deal.

Effective Communication
The importance of good communication skills cannot be underestimated since the agent or the broker needs to convey his/her beliefs, ideas, and thoughts to the customer (buyer or seller) and assess the needs of the prospective buyer or seller and arrive at a mutually acceptable solution. An agent or a broker who has a number of property listings will be unable to clinch a buyer unless he/she is able to present the property in a manner that appeals to the aesthetic sense of the customer. The unique selling proposition (USP) of the house should be clearly communicated. Again, a seller’s agent needs to be able to convince the customer about the prudence of entrusting the task of selling the property to him/her. This brings us to the mode of communication.

E-Business
Nowadays, e-business is the preferred mode of conducting transactions. It comprises setting up a website, helping the potential clients navigate through the website, and showcasing the available products in a manner that would encourage prospective customers to transact with the real estate agent/broker. Virtual tours are an excellent way of providing buyers a glimpse of the home. The buyer can have the satisfaction of touring the entire house or property that he/she is interested in with the aid of slide shows and accompanying audio description. People who are looking to sell their property need to have confidence in the professional who professes to sell the property for a profit. The seller’s agent needs to ensure that the website describes, in detail, the professional services that can be expected from the seller’s agent. The professional needs to distinguish himself/herself from competitors, and communicate with clarity and precision the extent of services that can be expected by the customer. Moreover, the website should not lack visibility. Again, video clips of the homes that have been sold by the agent/broker, may help drive home the point. The agent/broker may also upload a small video clip of himself/herself to make the presentation seem less impersonal.

Promotion
Permission based email marketing is a highly effective promotion strategy since the product information, or in this case, information about real estate, is supplied to people who are looking to buy or sell real estate. Contrary to popular belief, email marketing generates the maximum return on investment as compared to the other modes of direct marketing. The Direct Marketing Association has predicted that the return on investment in case of email marketing for the year 2009 is expected to be $43.52 per dollar spent. Sometimes, local Multiple Listing Services (MLS) may be the best bet as far as promotion is concerned.

The above list is not comprehensive. Ultimately, agents need to find a system that works for them. Designing a good website, permission based email marketing, and using MLS may attract potential clients. However, the ability to complete the transaction is contingent to the agent’s prowess as a good salesperson.

Real Estate Internet Marketing Tips

Emergence of the Internet has prompted a radical change in commercial trends all over the world. Today, online marketing has become the key tool for numerous businesses, to bring in customers. Real Estate is one of them. Of late, Internet has become the first place for most of the potential buyers, in their search for a home.

Advantages of Marketing Real Estate Online

1. Internet buyers make for better clients. A general online marketing trend reveals that these clients are wealthier and ready to buy more expensive homes.

2. Internet shortens the search for potential home buyers. It saves a lot of time and energy and is often more cost-effective than the traditional ways of marketing.

3. As it takes much lesser time to go through, clients can view more listed homes online and are able to narrow down the search to their desired ones.

4. Studies also reveal that the average age of potential home buyers is coming down, and this younger generation has grown up with the use of Internet in their daily lives.

5. Home buyers availing Internet services for their home search are also well-informed about the whole purchasing process, and expressed better liking for their real estate agents. In fact, almost 80% of Internet home buyers use an agent, which is greater than the traditional buyers who prefer them with a 70% probability.

In addition to the vast viewership of outstanding potential clients, the Internet offers both expediency and cost-efficacy that traditional marketing media cannot offer. Now websites are more appealing and instructive, than even the best promotional materials like brochures. Communication offered by emails makes it quite easier and cheaper to keep in touch with your past clients.

So, if you are a real estate agent and have not yet explored the benefits of online marketing, then you’re losing a vast base of potential clients.

Helpful Tips

Notwithstanding the enormous swing of online buyers, most realtors complain that their websites aren’t productive of any new business. While most real estate agents recognize the significance of Internet marketing and readily purchase a website, they usually do not put in the methodical efforts and time to achieve the goals. As an agent, you can achieve your goals by making your site truly effective.

This may happen due to exaggerated promises from their web designers, a misunderstanding of Internet functioning, or a lack of direction. Due to these factors, many websites are falling far short of their potential. So make sure that you are taking an active part in the creation of a stronger web presence for your practice. Master the techniques of search engine optimization. You must learn how to increase web traffic and convert leads into clients. Here are a few tips for you.

1. Make your Website More Appealing – When people visit your website, you don’t have much time to capture their attention, before they hit the back button. So make the home page more interesting, with minimal distractions. Make it more informative for potential home buyers. Avoid misuse of pop-up windows or flash. Use only fast-loading graphics and other elements. The web pages present on your site must be lightweight.

2. Enlist your Website – Search for the hottest Internet web directories and enlist your site there. This can be one of the easiest and most effective ways of free web promotion. Make your site rich in content and appearance to get accepted in your directory of choice.

3. Search Engine Optimization – Respect the search engines. Follow the practice of using web pages that don’t incorporate large amount of code, unrelated to your content. Avoid the poor use of frames. Search engines do not index content from frames that well. In order to enhance web traffic, try to develop links with other real estate sites in your area that do not compete with you.

There are many factors that contribute to a website’s search engine ranking. Inbound links are one of the biggest factors. Hunt for such inbound links and acquire them. It is always a better SEO practice to upload your site map. If a search engine finds your XML sitemap file, there’s a good chance it will find, crawl and index (record) all of your web pages. Putting keywords into hyperlinks is one of the easiest on-site adjustments you can make to improve the search engine visibility of your website.

4. Create a Blog – Blogging can be more than a communications tool and networking platform for real estate professionals. It can convey personality, generate leads and boost business. After creating the blog, don’t forget to get enlisted in directories; it will only help the cause.

5. Publish Online Articles – Publishing an article is a proven way to grow your online presence. Online articles support your Internet marketing program in a number of ways, ranging from search engine visibility to page ranking.

6. Display email id – Users hate being forced to fill out forms to gather information. Some users may accept this online form as expediency; but some users may prefer to use their own email to contact the agent directly, so that they will have a record of the email.

7. Minimize Attrition – Attrition follows you, for every step of your real estate Internet marketing campaign. Attrition refers to people who “drop off”, along your marketing process, somewhere between first contact and client acquisition.

8. Create Lead Generation – Remember, website traffic is only unproductive traffic until you act upon it. To get those visitors to act in some way to become your clients, you need to create a lead-generation program based on value and incentives. Don’t forget that people are used to respond to a well-presented offer of value, be it online or offline.

So be creative, attentive, ever learning and success is not far away!