Importance of Hiring Marketing Consultants For Commercial Real Estate Business

Marketing a commercial real estate property is vital as it is a niche segment and completely different than conventional residential property. Marketing a commercial real estate property requires detailed study of local markets/ demographics and a good marketing strategy. As there are higher gains and higher risks in commercial real estate business, hiring a marketing consultant can help the businesses make informed decisions on effective promotion and advertisement of commercial property. The services and products offered by marketing consultants provide detailed insight and expertise that can fulfill the needs of potential clients regarding commercial property.

Identify the Right Strategy
An effective marketing strategy is required for any commercial property business to explore the market and increase the sales. A marketing consultant helps a commercial property business initiate the right strategy for promoting their business to gain prospective clients. The consultant can formulate a strategy based on aspects such as how to market the commercial property, where to promote, which media to select that will generate maximum ROI etc. The consultant identifies a strategy that takes into consideration the clients future needs and goals. Traditional marketing strategies like direct mail or online marketing strategies like email marketing and social media can be used by firms to effectively target specific market segment. Employing various traditional marketing tools, internet marketing and advertising strategies will increase the effectiveness of the marketing campaign.

Help With Quicker Results
Marketing consultants help all types of commercial property business to rework their business practices and to identify opportunities to improve their business. Their expertise helps the organization to identify and strategize new opportunities and to optimize their sales and marketing operations. The businesses also acquire a competitive advantage during the entire process. The services provided by consultants help the business to reap benefits and reduce costs, get better quality, and fast results. Commercial Real Estate Marketing consultants also leverage Internet marketing techniques to effectively market the commercial properties. Their proven profit earning strategies enables businesses to effectively reach target clients and thus achieve quick results. Various creative techniques and online medias are used by Commercial Real Estate marketing consultants to help in lead generation by contacting prospective clients.

Decipher Optimal ROI
Marketing consultants can decipher which marketing strategy can provide maximum ROI, adds value for the money, and is cost effective. The consultant knows which marketing strategy can effectively target specific market segments and help in lead generation. They can also implement an effective marketing strategy that provides quantifiable results in ROI and real-time feedback on the effectiveness of the strategy. The consultants move forward with strategies that reduce overall workload, provide quality lead generation, and optimized results so that firms can focus on internal operations and new markets. This helps to save precious time and money for the commercial property firms and judge efficiency of strategies. Various Internet marketing solutions provided by consultants help to increase ROI.

Avoid Loss of Revenue and Loss of Time
Many times commercial property firms and investors rely upon the wrong marketing strategy that can lead to poor deals and end up incurring both loss of revenue and time. The comprehensive marketing strategies provided by marketing consultants help businesses effectively target specific market segments resulting in quality lead generation. This will help in getting quick results and avoid loss of revenue. Even a lease occupied a month later means there is loss of revenue for one month.

Hiring a commercial real estate marketing consultant can help consolidate the online presence of any commercial real estate firm. Consultants provide Internet marketing techniques, online advertising, manage email campaigns, social media marketing etc. to effectively market the commercial real estate property to target specific potential clients and lead generation.

The Skinny on Commercial Real Estate Buildings

So let’s get into it and break down the various kinds of commercial real estate buildings.

Retail – Strip Malls, Store Fronts, Big Box Buildings

Retail commercial properties are investments with the primary purpose of supplying space for stores and businesses to sell their goods or services.  Anything from a mall to a stand alone gas station would be considered a retail commercial building.

Industrial – Warehouses, Manufacturing, Storage

These properties are designated for manufacturing businesses or other similar set ups.  In most areas industrial property is strictly zoned as to limit noise, traffic and other elements that don’t mingle well with residential uses.  Industrial property can be multi-tenant or stand-alone.

Office Centers, Medical Office and Sky Scrapers

When most people think about commercial real estate they think of office buildings or even high rises.  Offices provide non-industrial workspace for companies and businesses.  They can be as large as a corporation’s headquarters campus or a small office building offering suites to small businesses and professionals.

Multifamily Residential Properties

Just because this category of buildings houses living space for people doesn’t mean its not commercial real estate.  Apartment buildings and other multifamily dwellings are valued the same way as other commercial real estate properties and can be a valuable addition to your real estate portfolio.

Mixed Use Buildings

There always has to be an exception to the rule, and in many markets the mixed use commercial building is becoming more popular.  These properties mix housing, commercial and retail spaces all in one and can be very popular.

The Other Types Of Commercial Investment Properties

There is a large amount of properties that don’t fit nicely into any category.  Retirement housing, hotels, motels, storage businesses and many others still are valued as commercial real estate.

The biggest difference in commercial propertiesis how they are valued as opposed to single-family residential properties.  The latter are valued based on comparable sales while the former are valued on the income they produce.  This allows the commercial investor to increase their property’s value by making improvements that increase the income.

As with any investment, prospective investors need to look at the ROI of the property in question, the monthly cash flows and the market as a whole.  As you can see from the above list the options in commercial investing are bountiful.

Emily Cressey is a Commercial Real Estate Investor based out of Seattle, WA. She and her partners have invested in over $30 Million in commercial real estate projects. If you are new to investing, or would like help getting started, visit their commercial real estate investing site and subscribe to receive your free 5-video Course On Commercial Real Estate Investing

Finding the Best Deals in Commercial Real Estate

If you want to be successful and profitable in the commercial real estate market, it will depend greatly on your ability to find the best deals in the commercial real estate market. You can lower your load and maximize your net profits if you only invest in commercial real estate deals that have a great amount of potential. As an investor, it is important that you find excellent deals in order to make money, but you have to remember that it takes some work on your part as an investor to find the best deals. The following are several tips that can help you find the very best deals in commercial real estate so you can make a profit and earn success as an investor.

Tip #1 – Know the Area and the Market – The most important thing you need to know if you want to find the best deals in commercial real estate is the area and the market. You need to be very familiar with the area that you are planning to invest in and you also need to be very informed on the market in that specific area. If you are not familiar with the area you plan on investing in, then you should make it your business to learn about the area and the market trends. You cannot determine whether an investment opportunity is a great deal unless you have a good grasp of the commercial real estate market in that specific area. Take the time to know both the area and the market in the area, and you’ll be sure to get the best commercial real estate deals.

Tip #2 – Make Use of Pocket Listings – Another tip that can help you find the best deals in commercial real estate is to make use of pocket listings that you may have access to. These listings can help you find and keep track of great investment opportunities. Many times you can get these listings from a broker to help you in your pursuit of excellent real estate investment opportunities. Pocket listings are commercial real estate opportunities that have not yet hit the market. So, you essentially get a jump on the property before anyone else does. If you want to find a great deal, don’t forget to make use of your pocket listings.

Tip #3 – Use Online Resources – Many real estate investors today really make use of their online resources when looking for the best commercial real estate deals. Using online resources can save you a huge amount of time; however, you will still need to be sure that you take the time to do the investigating that you need to do. There are many online websites that are geared towards investors in the commercial real estate market. Quite a few investors are using online resources to find the best possible deals, and you can take advantage of these easy access resources to help find great deals as well.

Tip #4 – Use Business Contacts to Find Deals – If you have a variety of great business contacts within the commercial real estate market, you can make use of them. These business contacts can help you find some great commercial real estate deals. It is important that you take the time to build up good relationships with these business contacts so that you are the one they inform when they hear of a great commercial real estate deal. Cultivating business contacts can take some work; however, it is worth the work if you can get a great business deal out of it.

Tip #5 – Know Your Financial Capacity and Strategy – Knowing your financial capacity and strategy is important as well if you want to find the best deals in commercial real estate. You will never want to overextend yourself financially, so you need to know your financial capacity. It is also important that you have a good strategy for investing as well in order to be successful with finding great deals in the commercial real estate market.

Tip #6 – Be Sure to Practice Due Diligence – It is imperative that you practice due diligence if you want to find the best commercial real estate deals. Due diligence is one of the most important steps in finding a great deal. Some of the things that you’ll need to consider when practicing due diligence is the existing conditions of the property, the actual value of the property, how much you can make from the property, title issues, zoning issues, and many other important aspects. Be sure that you take the time to do adequate due diligence in order to be sure that you are really getting a great deal on the commercial real estate that you plan to invest in.

Using all of these tips together can help you find great commercial real estate deals. If you want to be on your way to success, great deals are important, and these tips will enable you to find the very best deals in commercial real estate available today.