Working with the right agent is essential when wanting to sell commercial real estate. It requires different efforts and more detailed attention than selling other types of property. Agents must know their business well and be excellent marketers. Property owners can find the right commercial agent by asking a few important questions, getting a feel for an agent’s marketing know-how, and understanding their ideas for marketing a specific property.
Target Audiences and Marketing Plan
Before a marketing plan can be developed, it is important that property owners and their agents agree on who the target audiences are for a property. Owners may have one idea; an agent experienced in selling commercial real estate in their particular market may have others. Once the target is determined, an appropriate marketing plan can be created. With the right plan, commercial real estate agents should be able to attract ideal buyers or tenants based on the property’s qualities and any potential uses.
Marketing Resources and Budget
Successfully selling commercial property may require more than just a listing in the local paper or realty directory. This is why commercial brokerages have entire marketing departments. Property owners must ask about the resources available to their agent, as well as that agent’s understanding of the marketing process to ensure there is open communication between the two.
It is also important that sellers should confirm what available services will cost, what the inclusions are, and whether there are extra charges for certain types of advertising, professional photography and sketches, or any other features that may be important to the entire marketing process.
Property Promotion Online and Off
When discussing marketing resources, sellers of commercial realty should inquire whether the agent plans to use those resources to promote the property. How will the property be positioned on the market and where will it be advertised? A skilled commercial sales agent must be able to use a property’s unique points to position and promote it to stand out from all the rest. Considering all of this, will the agent also be marketing the property online; if so, how?
Review Example Marketing Campaigns
Another good way to judge an agent’s capabilities and how well they work as a team with their marketing department to create and implement a successful campaign is to review some current or past campaigns. Commercial property owners will be able to get an idea of how well an agent handles marketing campaigns and if the collective marketing efforts seem thorough and effective. A good track record selling commercial property to similar audiences suggests a strong ability to come up with the right marketing plans.
In today’s competitive marketplace, property owners looking to sell commercial real estate must work with a productive agent. This involves a realtor who can correctly position the property and do everything necessary to effectively market it to the right audiences. Marketing and selling commercial property requires more attention thab what a standard sales agent knows. By ensuring ahead of time that an agent is knowledgeable and equipped with the right resources, property owners will have greater and faster success when they look to sell commercial real estate!