Commercial Real Estate Ideas

[PropertyCow]

Running a successful Commercial Real Estate ad campaign includes:

A target audience - In direct marketing, having the right list is crucial to your marketing success. The best list you can use is your own list of all the people who have contacted you or that you’ve done business with. If you don’t have one of these yet, you can use a list broker to rent a highly targeted list. As those people respond to your mailings, you can add them to your company’s list and market to them directly. Keep in mind that a bad list can kill your marketing campaign but a good list is only half the battle.
A compelling offer - Your offer is just as important as your mailing list. Your offer should be unique, believable, and get people to take some type of action. It’s usually not enough to offer a “free home evaluation” or tell people to “call you for a consultation” - every other agent says that, so it’s just the “same old thing” to your prospects. Instead, you must focus on ways you can add significant value to your prospect’s life if they respond. That might mean giving entering them in a contest drawing if they refer someone to you, providing them with free moving boxes if they buy or sell with you, or providing them with an extensive “free relocation packet” that includes great information on the local community if they call your office.
Great creative - Your marketing piece has about a second to grab your prospect’s attention before they toss it into the trash. If your mailing doesn’t look professional or tell the reader “what’s the benefit to me to read this?” then you’ve wasted your money.
The ability to test and measure results - If you don’t measure your marketing, how will you know if it works? Every mailing you send should have a promotional code on it so you can tell which piece your prospect is responding to and keep track of things like how many responses you get and how many directly lead to sales.

[thedeallocator]

Thanks for the piece. I really liked the compelling offer section. Most real estate agents don't understand that most home buyers are listening to the famous radio station: WIIIFM - what is in it for me.

[BRITT REED]

thanks for the info

[Landwatch.com]

Thanks for the post, it was great reading it. However, I think it would be a difficult task to pin point a target audience in real estate. Also, these people on the lists are much like window shoppers, thus in a way I'm not selling anything.

[DMike]

Nice post, it was great reading it

[LOTrainer]

The other aspect that might make your campaign run a little more smoothly is to have and show a great deal of networking ability. In the past, when I have done marketing campaigns, I have shown that I am willing to commit to the client and stick with the client through thick and thin. People want to see that loyalty in today's market (be it residential or commercial).

[nancyarora2020]

Never be hesitant to request a lower fee; after all, the most that they can do is refuse. Usually, however, as a business relationship is forged, the service provider will become more amiable to the idea of a reduction in his or her fee in order to guarantee ongoing future business. And because of the typically large amounts of money involved in commercial real estate transactions, brokerage fees can often be negotiated. As a general rule, the larger deal, the lower the commission percentage the broker will receive.Simply put, if it's not in writing, a valid agreement does not exist. This effectively eliminates all "this-person's-word-versus-that-person's-word" situations, which can be virtually impossible to prove one way or the other. Therefore, only the points that are specifically spelled out in the lease (including any and all agreed-upon improvements) are binding, and until the lease (or purchase agreement, if the transaction is a sale) is signed by both parties and a good-faith deposit has been made, there is no agreement, no contract, and hence no grounds for contention.Many commercial property investors find it advantageous to buy a property and immediately make all necessary capital improvements and repairs, especially for properties that need a substantial amount of refurbishing. This not only increases the property's value but also quickly allows for higher rents, and could also result in easier overall property management. Additionally (to the extent allowed by the IRS), this strategy also maximizes eligible first-year tax deductions.Although a prudent measure for all real estate transactions, it's an especially good idea for commercial deals to engage the services of a competent real estate attorney to represent and protect your interests. Once you've negotiated with the property seller and come to an agreement on price and terms, the contract of sale will be prepared – usually by the seller's broker or attorney. Before signing, be sure to have an attorney that's looking out for you review the document. Furthermore, an experienced real estate attorney can also facilitate contact with bankers, industry professionals, and other real estate investors.

[bramlettmedia]

Great info. I wasn't aware many of those things were negotiable. Good work.

[proleads]

Great job,
Excellent info. you've described.

[tina.anderson]

Never be hesitant to request a lower fee; after all, the most that they can do is refuse. Usually, however, as a business relationship is forged, the service provider will become more amiable to the idea of a reduction in his or her fee in order to guarantee ongoing future business. And because of the typically large amounts of money involved in commercial real estate transactions, brokerage fees can often be negotiated. As a general rule, the larger deal, the lower the commission percentage the broker will receive.Simply put, if it's not in writing, a valid agreement does not exist. This effectively eliminates all "this-person's-word-versus-that-person's-word" situations, which can be virtually impossible to prove one way or the other. Therefore, only the points that are specifically spelled out in the lease (including any and all agreed-upon improvements) are binding, and until the lease (or purchase agreement, if the transaction is a sale) is signed by both parties and a good-faith deposit has been made, there is no agreement, no contract, and hence no grounds for contention.Many commercial property investors find it advantageous to buy a property and immediately make all necessary capital improvements and repairs, especially for properties that need a substantial amount of refurbishing. This not only increases the property's value but also quickly allows for higher rents, and could also result in easier overall property management. Additionally (to the extent allowed by the IRS), this strategy also maximizes eligible first-year tax deductions.Although a prudent measure for all real estate transactions, it's an especially good idea for commercial deals to engage the services of a competent real estate attorney to represent and protect your interests. Once you've negotiated with the property seller and come to an agreement on price and terms, the contract of sale will be prepared – usually by the seller's broker or attorney. Before signing, be sure to have an attorney that's looking out for you review the document. Furthermore, an experienced real estate attorney can also facilitate contact with bankers, industry professionals, and other real estate investors.

Great additions to the ideas in the initial post. I especially like the idea of immediately making repairs to increase property value.