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.
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.