Marketing Plan in 30 Days: Day 3
Over the years in the commercial real estate industry, the only saying that makes me cringe more than “no one uses the Internet” (yes, this has been said to me, ironically, while the person was on my website) is “everyone is my market.” Nope.
Instead of taking the easy way out and not defining your market, let’s sit down for about 10-minutes and think it through!
1. “What are my core competencies?” Have you chosen a specialty and done a competitive analysis? If so, you identified an area of focus and made a list of items/services your competitors struggle with. Identifying those two pieces will help you build a brand that is uniquely based on your interests and strengths.
2. “Where are my potential clients?” The geographical location of your potential clients is key to your strategy. Are you going to focus on an entire state, certain cities, single city, or neighborhood? While more rural areas may encompass several states, densely packed cities may make focusing on a single or handful of neighborhoods more appealing. Whatever it is, write it down or circle the area(s) of focus.
3. “Who would benefit from my core competencies?” If your focus is on multifamily sales in Southern California, then multifamily investors in Southern California is likely your main customer base.
4. Communicating to your potential clients. If you can demonstrate that the cost of NOT using you as an agent is GREATER than letting you have the listing – you’ve got a hook. Often, commercial agents forget to consider the emotional side of the deal. Your client wants full-service and no stress. Remind him of that in images, words and graphics.
5. Telling your story. In a world filled with tribes and unique, segmented communities that can match a niche demographic perfectly – your story is the most important thing to tell. Be honest with the emotional side of your story. People feel connections and trust with human beings, not faceless entities. The days of using “our establishment blah blah” is over. Be honest, unique and real.
“Straight out of college, I started as an intern in property management for a large company in San Fran. The routine of scheduling maintenance and turning on and off power became unbearable. I decided to try my hand at the realty side, receiving my license and beginning as a junior agent. With the help of some great mentors (name drop) and amazing clients such as (name drop), I built a lengthy medical office transaction portfolio. Today, I have my own team of three, all specializing in medical office in the San Fran area.”
6. Building your list. I always suggest using Reonomy to retrieve information on building owners in your area. You can sort by property type, location, and more! Some records will include email addresses. If tenant rep is your game, InfoUSA can provide a list of business owners and contact info. Learn more – 7 Ways to Create a CRE Leads List.