Target Marketing in Commercial Real Estate Sales
The success of a commercial property sale is centred on the structure and impact of the marketing campaign.
Every property will have its target market that should be identified prior to the implementation of the marketing strategy.
You cannot correctly market a property without understanding just who the ideal purchaser will be in the current economic climate.
The ideal purchaser will significantly impact the price that is offered or paid for the property.
That being said, it is also necessary to choose the method of sale which best suits the target market in today's terms.
The property owners when working with real estate agents should be encouraged to agree with the target marketing campaign and then support the process with vendor paid advertising.
Cutting corners on the cost of marketing is not a productive process in today's market.
It usually results on the property stagnating without sale and a frustrated vendor.
Most of the marketing efforts in the sale of any commercial property should be focused on the first four weeks of the campaign.
That is when most of the interest is likely to be generated.
The diligence of the salesperson to drive the marketing campaign is absolutely critical to the end result.
To define the target market in each real estate property promotion the following questions need to be answered:
The relationship between the real estate agent and the vendor in the marketing of property is critical to its success.
Every property will have its target market that should be identified prior to the implementation of the marketing strategy.
You cannot correctly market a property without understanding just who the ideal purchaser will be in the current economic climate.
The ideal purchaser will significantly impact the price that is offered or paid for the property.
That being said, it is also necessary to choose the method of sale which best suits the target market in today's terms.
The property owners when working with real estate agents should be encouraged to agree with the target marketing campaign and then support the process with vendor paid advertising.
Cutting corners on the cost of marketing is not a productive process in today's market.
It usually results on the property stagnating without sale and a frustrated vendor.
Most of the marketing efforts in the sale of any commercial property should be focused on the first four weeks of the campaign.
That is when most of the interest is likely to be generated.
The diligence of the salesperson to drive the marketing campaign is absolutely critical to the end result.
To define the target market in each real estate property promotion the following questions need to be answered:
- Should the property be marketed to the local community, the regional area, the greater country, or overseas?
- How will the indicative price for the property impact the enquiry in this market?
- Is financing generally available for a property of this type in today's market?
- What advantages are offered by the property to the purchaser?
- Is the property best suited to an owner occupier, an investor, or a business owner?
- What types of businesses are best suited to the property? Given your answer to this question, what is the economic profile and business sentiment within that business type?
- What is the best timing of sale given the unique nature of the property?
- How much time is required to promote the property to the target market?
- What preparation is required within and around the property to package it for sale?
- Check out the legal, financial, and physical aspects of the property to ensure that all elements are correctly prepared for the sale process.
The relationship between the real estate agent and the vendor in the marketing of property is critical to its success.
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