How to Craft Compelling CRE Listings That Convert
Specializes in providing actionable insights into the commercial real estate space for investors, brokers, lessors, and lessees. He covers quarterly market data reports, investment strategies, how-to guides, and top-down perspectives on market movements.
Whether you're a new commercial real estate agent, experienced broker, or property owner, your success at selling or leasing CRE depends on your understanding of your prospective market.
These insights are the foundation for effective marketing, whether you're selling a high-rise in New York City or leasing a corner cafe in Tulsa.
Here, we'll provide you with valuable strategies for researching and creating marketing that you can use to create and present a positive story to your prospects.
From creating your online identity to creating a showcase for every one of your listings, you'll be on your way to convincing prospects that your property is well worth a visit…and hopefully worth buying or leasing.
We'll begin with the task of identifying what makes your property stand out from the competition.
What's Your USP?
The acronym USP stands for unique selling proposition, although it was shortened to unique selling point. It's been a proven marketing strategy for decades. It translates into telling your customers why your product is superior to others.
The term first came into use during the 1940s and was inspired by a Harvard Business School professor who suggested that “Differentiation is one of the most important strategic and tactical activities in which companies must constantly engage.”
While there's no need for you to use long words, you'll want to look at your property's advantages compared to others nearby. Imagine looking at your site on an imaginary grocery shelf, together with its neighbors.
Your USP can be based on anything, from a lower price per square foot to being the only vacant retail space next to a popular big box store.
Next, make a list of your property's attractive features and improvements. Has it just been modernized with fast Wifi? Does it score high within foot traffic data? Has it just been redecorated for Class A tenants? Is it near a subway or train station?
When you've finished this list, it's time for the second chapter of your story.
Creating a Showcase
Before web browsers went live, commercial real estate was sold primarily through brokers, leasing offices, and newspaper advertising.
Today, you can post listings that provide a real-life preview of what your property offers and what makes it different from others. For example, in addition to high-quality photos of interiors, provide exterior photos that complement the property's surroundings.
If an attractive and/or convenient business is nearby, an exterior photo that shows its close proximity to your space is a good idea. This can be anything from a corner cafe to a 24/7 shipping facility.
While photos are important, you shouldn't rely on them alone. Video footage can be viewed more quickly than dozens of photos, and most viewers prefer video.
Creating a Video Walk-Through
Creating a video walk-through or 3D tour for your listing can entice more prospects to book a walk-through. This is best done with a special camera and application, such as Matterport.
If you or your office don't have one, it's well worth hiring a specialist.
Every listing should include a detailed floor plan. Be sure to add the measurements for each room, as this helps prospects determine whether the total space is adequate for its intended purpose.
Maps are also an important listing feature. Not only do they illustrate how drivers can reach your property, but they also tell potential buyers or tenants about any main highways that are nearby.
After you've prepared a collection of photos, videos, and floor plans, it's time to locate and share demographics and other data that help predict a tenant's or buyer's potential success.
Do Your Demographics Add Up?
The right numbers are important for every stage of a CRE property, even before construction begins. A property's success is driven by its potential tenants and visitors; demographics can help predict their numbers…and more.
CRE demographics and research also examine these people's income, education, household, age, and leisure time habits.
Searching for demographics can be time-consuming, so MyEListing provides these free of charge to our members. Depending on your property's location, these may include data that reflects income, education, employment numbers, civilians vs military, and more.
MyEListing demographics reflect information for residents situated one, three, and five miles away from your listing. Viewers of your listing may check these out with their choice of a pie or bar chart.
If you're wondering what your CRE listing could look like here, take a look at some current properties for lease or sale.
Examples of CRE Listings
The listing for this retail space for sale in San Antonio, Texas contains plenty of data describing its potential customers, including their affluent lifestyles.
This listing for retail space for lease in Mount Kisco, New York is only a few miles away from an affluent customer base with incomes over $200k.
Win Commercial Projects & Outperform Your Competitors by Knowing What's Happening in Your Area
MyEListing.com provides commercial vendors looking for new projects with up-to-date market intelligence on which commercial property owners need construction work, when they need it, and where they need it.
Make finding new commercial real estate projects easier than ever with MyEListing's Vendor Client Connection Program.
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