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When marketing a property, whether commercial or residential, one should ensure that the details satisfy the requirements of the potential buyers or tenants.
For commercial properties such as offices, warehouses and storage areas, it is best to identify their features first before coming up with a marketing plan. Does it have a scenic view? Is it accessible to the customers? Does it offer easy access to transportation networks?
There are a number of ways for a property owner to attract buyers and tenants to his asset.
Advertisement – The widely used marketing tool is advertising, whether it is print, broadcast or online. This tool amplifies a product’s reach, making customers aware that a product exists. The quickest and most convenient way to attract interested investors, you may choose to advertise in newspapers and magazines, on radios and televisions, and through emailers, flyers, brochures, postcards and billboards to help customers arrive at informed decisions. Highlight the size, price, location, salient features and other significant details of your asset. Ensure you include high-resolution photos and/or engaging videos.
Broker – Enlisting your property with a broker increases the chance of selling or renting it out quickly. Brokers have deep knowledge of the market and a wide network; thus, they will be able to promote your asset to a wider customer base. They also know the right way to market it.
‘For Sale/For Rent’ sign – While a number of initiatives can give an extensive exposure to your property, putting up a “For Sale” or “For Rent” sign still makes its mark while cutting on costs on marketing. Therefore, if your property is highly visible to the crowd, create a conspicuous signboard announcing its availability.
Word of mouth – Building friendships and a network of contacts can help you generate more buzz for your investment as they help you spread the word around.
* Advertise your property through print, broadcast or online media
* Enlisting your asset with a broker gives you a greater advantage
* Other ways are putting up a sign and through word of mouth
Source: Alfred Ocianas, Special to Properties
The writer is a freelancer