Selling Commercial Real Estate: The Art of CRE Storytelling to Your Target Audience
When it comes to selling commercial real estate, the numbers alone, while important, often don’t seal the deal. Prospective buyers and tenants are looking for more than just square footage and price points; they want to envision the potential, feel the atmosphere, and understand the value that a property can bring to their business or investment portfolio. This is where storytelling becomes an invaluable tool. Telling a compelling property story can transform a listing into a must-have opportunity.
Storytelling in CRE comes into play at all stages of a transaction from initial online listings, digital marketing, social media, hosting tours, and negotiating a contract to convincing the appraisers the deal makes sense for all sides, including the bank.
Understanding Your Target Audience
The first step in crafting a captivating property story is to understand your target audience. Different buyers have different priorities:
- Investors are typically focused on return on investment (ROI), market trends, and long-term value. For them, you need to provide verifiable data points.
- Business owners might prioritize location, accessibility, and the suitability of the space for their specific operations. This requires local market knowledge of neighborhoods and trends.
- Developers often look for potential in terms of renovation, redevelopment, and future growth. Making clear what the zoning, uses and buildable sizes are is key to getting them to look closer.
Identifying who you are targeting allows you to tailor your narrative to address their specific needs and desires. I believe it’s important to provide the most relevant information early to avoid wasting both the buyers and sellers time.
Crafting the Property’s Narrative
Our marketing materials incorporate the following details to help tell the property’s story to prospects to engage great leads.
- Highlight the History and Background Every property has a history, and often, this history can add significant charm and value. Discuss the building’s origins, any notable past occupants, and historical significance. For example, a warehouse that was once a bustling industrial hub can be marketed as a piece of the city’s industrial heritage, perfect for a trendy conversion to lofts or creative office spaces.
- Emphasize Unique Features: Unique architectural details, sustainable building practices, or cutting-edge technology can set a property apart. If the building boasts eco-friendly features, smart building technology, or award-winning design, these elements should be front and center in your story. Buyers want to know what makes this property stand out from the rest.
- Showcase the Location: Location is a critical factor in real estate. Tell the story of the neighborhood: its vibe, amenities, transportation links, and future development plans. A property in an up-and-coming area can be portrayed as a ground-floor investment opportunity, while a location in a well-established business district can appeal to those seeking prestige and convenience.
- Paint a Picture of Potential: We help the audience visualize the future. Use renderings, case studies, and success stories from similar properties to illustrate potential uses and transformations. For example, a vacant lot can be depicted as a future mixed-use development hub, complete with vibrant commercial spaces and upscale residences.
Utilizing Multi-Media Storytelling
A picture is worth a thousand words, and a video is worth a thousand pictures. High-quality visuals can bring your property story to life. Consider the following multimedia tools:
- Professional Photography: Invest in high-resolution images that capture the property’s best angles and unique features.
- Virtual Tours: Create immersive virtual tours that allow potential buyers to explore the property from anywhere in the world.
- Drone Footage: Use aerial shots to showcase the property’s surroundings, providing context and highlighting key location benefits.
- Testimonials and Case Studies: Share success stories from previous buyers or tenants, providing real-world proof of the property’s value.
Leveraging Digital Platforms
In today’s digital age, your property story needs to be easily accessible and widely disseminated. You need a broker that will utilize many digital platforms to reach your target audience:
- Social Media: Share engaging content on platforms like Instagram, LinkedIn, and Facebook, using targeted ads to reach specific demographics.
- Email Marketing: Send out visually appealing newsletters featuring the property, with links to virtual tours and detailed listings.
- Real Estate Websites: Ensure your listings on major real estate platforms are comprehensive and visually rich, incorporating all elements of your property story. These include premium paid placement on LoopNet, CoStar, Crexi, Commercial MLS, and other appropriate sites.
TLDR
Selling commercial real estate is much more than a transactional process; it’s about crafting and sharing a compelling narrative that resonates with a buyer.
By understanding our target’s needs, highlighting unique features, showcasing the location, and using multimedia tools, we create a market and story that not only informs but inspires. We engage the audience factually and emotionally, and leverage digital platforms to ensure your story is seen and heard by the right people. In the end, a well-told story can transform a mere property into a must-have investment.
At DWNTWN, we don’t do boring real estate, and we don’t do boring marketing.
If you want to get to work on telling your property’s story today, get in touch.
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