Leasing strategies in Commercial Real Estate (CRE) are evolving. Today, brokers have access to powerful marketing tools that help streamline processes, automate tasks, and effectively target the ideal tenants for an asset. Digital marketing, particularly Pursuit Marketing, is becoming a crucial tool for brokers to lease space efficiently and stay competitive. We asked a broker for their advice on how to make the most of digital marketing in today’s CRE market.
A Day in the Life of a CRE Broker
Each day as a CRE broker is unique! My time is divided between new business development, client servicing through phone calls, strategy sessions, proposal negotiations, and market catch-ups with tenant reps. I also focus on hosting broker events and open houses to showcase my properties.
Go-To Strategy to Attract Clients to an Asset
My strategy revolves around providing brokers with as much valuable information as possible. I invite brokers to preview spaces, give them ample materials to share with potential clients, and keep track of tenants actively in the market to ensure timely outreach.
Biggest Challenge of Being a Broker
One of my main challenges is the disconnect in communication—while I communicate directly with brokers, they then relay the information to clients. My focus is on ensuring that I provide brokers with the most relevant and useful information to strengthen those relationships. My ultimate question: How can I make sure my buildings are getting in front of the right people?
Most Rewarding Part of the Job
The most rewarding part of my job is seeing a deal go from start to finish. CRE has a long sales cycle, and it’s fulfilling to know that I’ve done everything I can to place a tenant in the right space. It’s especially gratifying when I give tours and can highlight all the unique features that make the property special.
Advice for New CRE Brokers
The key to success as a broker is knowledge. A solid understanding of the market and the ability to gather and share valuable information are critical. Most importantly, always be persistent in your efforts.
Thoughts on the Impact of New Technologies and Software in CRE
I first noticed the impact of new technology through clients, especially in how they communicate with tenant reps. Technology has made these interactions much smoother and more efficient. Tools like iPads allow me to take notes during tours, which can be shared instantly. Virtual tours are also invaluable, enabling clients to get a feel for the space before even stepping foot inside.
Personal Opinion on Digital Marketing in CRE Today
In today’s digital world, everyone is glued to their phones or tablets. Having a strong digital presence for your asset makes it easier for potential clients to engage. Additionally, I’ve observed CRE influencers build personal brands online, sharing both professional and personal content. From experience, this personal connection can make a significant impact when trying to win new business.
Biggest Benefits of a Digital Presence for Your Asset
As a broker, I’m hired for my knowledge of the market. I use that expertise to educate brokers about my listings. However, it’s not sustainable to meet with every broker in person. A digital presence helps extend my reach, ensuring that even when I can’t meet with brokers directly, my properties are still visible to those actively in the market.
Challenges in Creating a Digital Marketing Strategy
The biggest challenge is content generation. Keeping up with the creation, optimization, and distribution of content is more time-consuming than most realize. High-quality content is crucial, but fortunately, solutions like Managed Service can take this load off your team by handling content creation and distribution for you.
What Surprised Me About Leveraging Digital Marketing
The ability to track and report on specific campaigns is groundbreaking. I can target a particular company and then access detailed reports showing when and how many times that company was reached. This data is invaluable, as it allows me to tailor my sales approach to the specific needs of each prospect.
Advice for Building a CRE Digital Marketing Strategy
Find a solution that makes digital marketing as easy as possible for you and your team. Focus on tools that specialize in CRE marketing to ensure they understand the industry’s unique needs. It’s also important to partner with companies whose values align with yours. Research their background and expertise in CRE to ensure you’re working with a provider that will drive the results you need.
The Future of Digital Marketing in CRE
In the next 10 years, digital marketing will become an even more integral part of the leasing process. We’re still in the early stages of leveraging these technologies, and I believe digital marketing and software companies are on the cutting edge of transforming the CRE landscape.
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