Need to catch up? Go to Day 1.
Every commercial real estate agent has had a problem child listing. This is a listing that, for no explainable reason, is not selling or leasing. It’s priced well, it’s in a good neighborhood, it has potential…and yet it just sits there.
Advertising to commercial real estate agents. Make sure your listing is on LoopNet, Property Line, CoStar, and Craig’s List. The more exposure a listing has, the more likely a person who needs it will find it. Not enough? If you don’t have an eblast list, check into Property Line’s eMarkteting system. For less than $80 Property Line will email your listing to everyone in its database. That’s hundreds of agents! Still no takers? Now, let’s try advertising to potential tenants.
Advertising to potential tenants. First, we need a contact list. Reonomy is one of the easiest ways to gather commercial real estate leads. You can use a radius around your property’s address and gather names for other tenants in that area. Export this list into labels and now you can mail to these people!
In my experience, I found the best mailers to advertise a listing were a semi-personalized letter from the agent with a color copy of the listing brochure. Folded and placed into an envelope, no need to hand write the address. The letter should speak directly to the type of business that you’re contacting. Let’s say I have a retail/office space available in a shopping center. I’ve decided to advertise this space to insurance agents. I’m going to explain why this space is great for an insurance agent.
Dear (Name) ,
I wanted to write you to let you know of a space available in (Shopping Center) on (Cross Streets). This space would be perfect for an independent insurance agency! It’s next to a major grocery store with tons of foot traffic, close to high-end shopping, and restaurants, and best of all, there’s no other insurance agencies near this location! You would be the only insurance agency within 3 city blocks. That’s a big deal when considering people that purchase for convenience.
(Details of Listing)
Call or email me if you’re interested in this great opportunity! Do you need a different location or square footage? Let me know and I’ll be happy to find your perfect location.
See? That wasn’t so hard! That listing will be off your desk in no time!