How to Test the Effectiveness of your Industrial Real Estate Marketing Program
If you’re only gauging things by the end result of a sale or a lease, it’s obvious. But before this transaction occurs, how can you measure the appropriate level of effort your agency is putting forth on your behalf? After all, marketing industrial real estate is a bit of a nebulous activity to quantify. It can, however, be done if you know how.
Complete these two tests to determine the effectiveness of your industrial real estate agency. Ask yourself – is my agent readily available, and not just during regular work hours? Be very clear that no matter when a company is ready to buy or lease a building, your agent must be available to respond. Test this by calling the agency at 8 a.m. on Monday morning and again at 5 p.m. on Friday. You should expect a live person to answer. Try reaching your agent on his mobile at odd hours – if there’s no answer, you should expect a very prompt reply. On weekdays, it should be almost immediate and on weekends, within about a four-hour window. There’s a very practical reason for this immediate availability. In many instances, industrial real estate buyers and tenants do not investigate potential sites during normal business hours. Your agent must be ready to accommodate this.
Industrial real estate is a complicated and challenging field. It’s also highly competitive. Your property deserves the very best exposure and agent support that’s out there. It doesn’t cost any more to buy the best, so why not list with the best? If a competing agency’s listings are easy to find, consider the reasons you aren’t listing your properties with that firm. If you call that agent and get an immediate answer, consider whether you’d be in better hands with that agent. It just makes sense to associate with an agency that has proven a high level of marketing skills and agent accessibility.
See how Miller Industrial Properties takes a different approach to tenant representation.