Demystifying marketing for Commercial Property
DEMYSTIFYING MARKETING FOR COMMERCIAL PROPERTY
Matt Brown talks tactics.
Commercial is very different to Residential property in many ways and that also applies to marketing strategy. Why spend advertising dollars that don’t cut through the clutter? In residential property the theory is often that the bigger add is the most effective. In commercial its more about numbers, and the logistics, etc rather than the emotional connection which the flashy campaigns focus on for residential properties. However, Matt advises us, there is no point in over investing in marketing for a desired outcome, when you don’t need to.
Here are tips from Commercial Property expert Matt Brown of Tsimos Commercial, on what to gauge when choosing the marketing campaign for your commercial property.
Let’s break it down –
Firstly – Understating the various digital platforms available. These are the main commercial websites – ‘Commercialview.com.au’, ‘Realcommercial.com.au’, ‘Domain’, ‘Commercial real Estate’, and ‘Commercial property guide’.
However, Matt assures us, all the online platforms offer the same options or tiers. But the choice of which platform all depends on the suburb, and the type of property you are marketing.
Secondly – It’s all about demystifying the four tiers of marketing available offered on each of these platforms.
Here is a snapshot of the four tiers available are –
- Basic listing– entry point for marketing a property. Small photo, address and size
- Enhanced listing -achieves 5.8 times the number of enquiries of a Basic listing
- Elite- Listing – Achieves 8.9 times the number of enquiries of a Basic listing
- Platinum /Elite plus – A customised option offered by some platforms. Biggest add which costs the most. Can draw buyers from surrounding suburbs. A scroll function is also a feature of Elite plus.
Most agents subscribe to a certain package with these platforms or websites, therefore automatically limiting the vendors choice of tier. Tsimos Commercial however, offer access to all four-tiered packages and therefore offer flexibility.
The Dominant platform is Real Commercial.
They have a strong customer base and may take 60-70% of the enquiries.
To take a deep dive about how most people go to market on Real Commercial we need to draw some distinctions between the tiers by looking at commercial property examples. The entry point is the basic listing – smaller ad, address and size and for a small warehouse is often all that is required. A big flashy shop however may need a Platinum or Elite -plus listing requiring a budget requiring around $6000-$8000 spend plus. In most cases this may just not be necessary, but development sites will seek the Elite Plus listing- larger photo, easy scrolling and an Elite Plus listing can bring 14 times the number of enquiries. This tier may assist a vendor who is in a very prominent suburb or a big shopping strip and there are 7or 8 listings at any one time or a vendor might need the elite listing to capture those really professional photos, to show their property at its best.
Conversely if you have a 1980s warehouse in Moorabbin the bigger photo is only going to show up the cracks!
The most popular tier is an enhanced listing.
This represents very good value for money. For a few hundred dollars more than a Basic listing you can achieve a slightly bigger ad and a prominent position. We’d rather see you spend the money on floor plans and professional photos than spending the money on an Elite listing.
So, Matts tips for the best outcome and to choose the right marketing plan –
- Click on the suburb where your property is and do your homework i.e.
-Check how many elite listings are there and how many pages of listings?
-How many properties at any one time are on that particular area.
- The type of property is really important
- If a large add isn’t required, you could be best to spend your money elsewhere i.e. a bigger board on the property.
- Talk to us and we can walk you through your best options!
Matt Brown
Tsimos Commercial
