Choosing a Commercial Property Agent? What Do You Need To Consider?
In today’s complex property market and economic climate, choosing the right commercial property agent is a crucial decision. With so many agents out there looking for your business property owners are often at a loss about how to select the one that will meet their particular needs. So what needs to be considered?
- Trading history – how successfully have they marketed property in the past?
- Knowledge – how well do they know the property market in your area?
- Financial security – will they still be there next week, next month?
- Reputation – do they come recommended?
- Portfolio – have they found occupiers for similar properties to yours in the past?
- Willingness – are they keen to market your property?
- Marketing strategy – how are agents planning to market your property?
Being a commercial property search engine, NovaLoca.com is in contact with many commercial property agents every day and can see the varied levels of effort agents put in to marketing properties for their clients. Therefore it is essential for the property owner to understand exactly what the agent plans to do to find an occupier for their property as quickly and as cost effectively as possible. Do not be afraid to ask them the plan and hold them accountable to it.
Some marketing methods agents may use include:
- Direct mailing/leaflet drops
- Emails
- Fax
- Printed press/ online press
- Agents’ web site
- Online property search engines
So you know what the options for marketing methods are, but how effective are they? Some useful questions to ask include:
- How many people will see the property details?
- How easy is it for an occupier to contact the agent about your property?
- What information is given to the occupier about the property?
- Can they see the property on a map, virtual tour or photograph?
- Which method generates the most leads and is most cost effective?
Our experience has shown that traditional methods of direct mailing property details, sending emails and printed press are becoming less effective when marketing commercial property as occupiers increasingly begin their property search online. Therefore make sure the agent you choose to market your property is using the latest available technology to find an occupier.
For more information about what NovaLoca can do to help market commercial property contact us.
Good Post. Without a doubt choosing an agent who has a proven track record and years of experience is essential. One method of marketing you have missed out is networking, especially if you have been involved a specific property management ie the Licensed Trade for a long time.