How will my commercial property be marketed?
Since the leasing market is a highly competitive segment, making the right first impression is critical to ensure that your property stands out from the crowd.
How do you do that?
First and foremost, choose the right agent with a proven track record in commercial leasing.
There are unique, high exposure marketing initiatives that you can participate in with the right agent. This may include:
- Well-designed signboard out the front of property or sticker on the window advertising “For Lease”
- At Time Conti Sheffield, we use all the major online platforms to advertise. These are realcommercial, reiwa.com and commercialrealestate.com.au.
- Based on experience, it would not be surprising if most of the enquiries will come from realcommercial. That is why it is so important to ascertain where your listing sits. If the property is not positioned optimally and the tenant has to scroll down to too many pages, we highly recommend that you enhance the listing. The advertising price that Realcommercial charges will be passed on directly to the Property Owner at no extra cost. Most potential tenants will not go past 3-4 pages so it is important to stay on the first 3 pages of realcommercial in your suburb.
- We have a large database of clients so we can prepare an Electronic Direct Mailer (EDM) on your property and send this to our database and/or anyone else.
Secondly, present your property in the best light possible.
You only get one chance at making a first impression so try to get it right. Prior to the inspection, if you can, do some research on the potential attendees so that you can position your property in a targeted manner. It is highly recommended that the property be clean, tidy and well presented.
At times, we have Owners who have asked us if they should make significant improvements to the property. Generally. we do not recommend massive improvements as this would usually be done by the incoming tenant to suit their business. So best to wait and see.
Finally, we recommend professional photos be taken. It is good value for what you pay as they cost no more than a few hundred dollars and can make all the difference. They can also be re-used over and over again to help lease out the property in future.
Third, respond quickly.
This may seem common sense but we cannot stress enough given the competitiveness in the commercial market place, you will need to work closely with your property agent to achieve the quickest turnaround time possible for tenant enquiries. In business, as the old saying goes, time is essentially money.
Fourth, negotiate well.
One of the best things in hiring an experienced agent is that they can help ensure that you have priced your property right in comparison to the competition. Due to local market knowledge as well as insights into the property economic cycle, this is an invaluable piece of information. In addition, it may be worthwhile to sweeten the offer by throwing in an incentive of some kind to attract interest. A good property manager will advise you on the right type of incentive to offer and help negotiate in your best interest.
The Property Managers at Time Conti Sheffield are highly trained and exceptional at delivering outstanding customer service, ensuring that your property is managed at its best. That’s why, we have 65 years of solid reputation in excellence in property management.