Leasing or selling commercial property may seem straightforward, considering there are always businesses and investors looking for property. While on the surface, just listing your properties may be the extent of your effort, making sure the description and photos are accurate, there is more to listing commercial real estate than meets the eye.
Why Commercial Property Marketing Matters
It would be nice if commercial property filled itself with tenants or buyers lined up at the door just because it's available, but that isn't the case. You have competition whether selling or leasing and how are people to know your property is available for either?
Generally, the problem commercial property holders run into isn't a lack of demand, it's the lack of awareness, and marketing commercial real estate isn't as easy as listing one on appropriate websites.
Ten Ways to Advertise Your Commercial Property
Since not every property owner is well-versed in marketing what they own, here are 10 ways to advertise your commercial property for either leasing or selling it:
Use Professional Photography and Videography in Listings
If you've ever searched for property yourself, you've likely noticed that photography plays a significant role in a space's appeal. There is a skill for real estate photography that can't be replicated by snapping away at a room or the outside of a building. Hiring a professional photographer to capture high-quality images of the property is key to maximizing the appeal, since the first interaction potential tenants or buyers will have with your property is online, it could make or break pressing the contact button.
Have an Online Presence for Your Property
The internet is the way of the world, almost everything is performed online including looking for commercial real estate. Having an online presence on appropriate platforms helps alert prospective tenants and buyers to your space being available and you can leverage social media platforms to reach a broader audience, engaging them with images, videos, and details about the property.
Create Compelling Listings
Having high-quality images and listing commercial property on the right websites will capture someone's attention, but the description will hold it and drive prospective buyers or tenants to the contact button. Your listing should be detailed and accurately describe key features, highlighting size, amenities, location, and potential uses along with unique selling points to outshine the competition.
Use Signage
People still walk around, which means that signage and banners are still effective. This is especially true if your commercial property is in a high-foot-traffic area. Some business owners and prospective buyers still walk around neighborhoods hoping to find a space before it's even listed, getting in on it early. You'll want to install clear and professional-quality signage on the property to alert passersby and have the contact information displayed to capture as many prospects as possible.
Networking within Commercial Real Estate
Social interaction is tied to opportunities in almost every industry, including commercial real estate; from whole markets devoted to selling, buying, advertising, maintaining, or fighting against development, there is no shortage of networking opportunities to find prospective tenants or buyers. Even on the political side, a local Chamber of Commerce and other business groups that organize seminars also host events that introduce your property to an untouched avenue. You could participate in the events or even hire people to hand out brochures and flyers for your property.
Show Your Property with Open Houses and Tours
Open houses and tours aren't only for residential properties. Hiring a professional to offer guided tours for interested parties and allowing potential buyers or tenants to experience the property firsthand will help improve their interest and the likelihood of filling the space.
Use Listing Sites
Back to the digital world, not all listing websites are appropriate for selling commercial real estate or to list one for leasing. Research different websites for commercial property owners and see which is best for selling or leasing, listing appropriately on both or either.
Offer Incentives to Lease
Commercial real estate is a competitive market and while commercial real estate marketing can help cut through the noise, if the competition offers incentives that you don't (even if you have the better space) you'll likely lose the battle. Common incentives include free month's rent or a voucher for moving services, using vacancies, first call on other spaces within the building, or different types of leases, such as triple net leases.
Hire a Commercial Real Estate Firm
Commercial real estate marketing can be a chore, a necessary and worthwhile one, and not everyone has the time or inclination to handle it themselves. Luckily, there are companies who advertise your commercial property for you and have the right professional experience and connections to make it easy.
Here at Goodale & Barbieri, we provide commercial real estate listings and help market your properties, ensuring our clients secure the right tenants or buyers. As one of the largest developers, property managers, and a leading real estate firm, we understand what to look for with tenants and the nuances of negotiating a lease, as well as the market. Since 1937 we've handled properties of all sorts and currently over 4 million square feet of commercial property.
Discover more about working with experienced experts today!
