What works? You may consider expanding your reach and targeting a unique market

March 24, 2010 - Spotlights

Christy May, Re/Max Landmark Realtors

What can we do to get those lingering properties sold? Can we cast a wider net? How? What works anyway in marketing and selling properties? In this market of fewer buyers, no money, and little confidence, it helps to consider expanding your reach and targeting those who might just...
20 things to try for outreach to capture interest initial strategies & tactics
On a scale of 0 - 5
* not at all = 0
* somewhat important = 3
* must do = 5
* note =/+/- as trending opinion based on always thinking, "Where is my ROE (Return on Effort)?

1. Advertising in news publications 1 -
2. Advertising in trade publications and online 4 =
3. Associate industry and related association marketing 4+
4. Blog posts on associated sites 4 +

5. Calling associates 5 +
6a. Cards/notes 4+ and letters 2+, and mailing brochures 2-
6b. Database upkeep and use 5+
7a. Demographics / traffic 4 + / 4 +
7a. Email blasts 4 =
8. Google investment in time to learn tools that are FREE for now 5+

9. Listing services (such as they are in commercial real estate) 3 +
10. Market research and reports 3 +
11. Mailings to purchased list 2-
12. Pay-per-lead/click programs 3-
13. Public relations 4+

14. Signs (and refer to website specific to the property) 4+
15. Social media (Facebook 4+ Linked-in 3=, Twitter 4+, YouTube 5=)
16. Targeting markets and networking with trade associations 4+
17. Photos 5 =
18. Website 5 = keep it useful and watch SEO
19. Website for property 3 +
20. Video walking talking tours 5 =

15 things to have ready
It is increasingly necessary to prepare your response -- in advance - and to anticipate and answer those questions your interested parties might have. And have we noticed that this is a time of instant gratification? "I'll get back to you," has a shorter response expectation! Be prepared with:

1. Analytics and the presentation to clients and prospects 5 +
2. Auto generated market snapshots 3 -
3. Call and listen and communicate with the right stuff 5+
4. Concept plans and glossy brochures 2 -

5. Expenses of the property NNN CAM looking for monthly $ 4+
6. Floor plans and plot plans 4+
7. Google (or Yahoo+ your client and prospect is checking this anyway!) 5+
8. Permitting knowledge and assistance 3+
9. Public relations before for credibility 3+ and after for promotion 3+
10. Rent rosters 4+

11. Property and systems' condition 4+
12. Spreadsheets of NOI 4 +
13. Tenant agreements 3+
14. Time line focus 4+
15. Walking talking tours with directed access 4+

Via what means? Gear up for better communications - it is expected.
a. on my blog 4 =
b. on association blog 5 +
c. email .pdf 5 =
d. email click to online interactive 5 +
e. glossy hard copy 2 -
f. texting 4+
g. on my website 4 =
h. website on my sign 4=
i. in response to an inquiry by the communications means of choice of inquirer 5+

Everyone is looking for value and we must prove it once we have found an interested party. Marketing and communications are more important than ever. I hope this inspires you to try something that might work.

Christy May is an agent with Re/Max Landmark Commercial and CEO of DM Communications, Inc., Westwood, Mass.
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