As the market leader in Las Vegas Commercial Property Management and Brokerage, we are committed to not just meeting, but to surpassing the expectations of our clients. One of the contributing factors to that success is transparency.
We believe in being open and honest with our clients and will never play the stereotypical “broker game”—for example, telling you we have hidden buyers then having you drop the price later. To that end, we have compiled a list of our clients’ most commonly asked questions and will publish the answers as a series of blogs.
In this blog, we will answer the commonly asked question: How are you going to market my property?
There is Magic in the Marketing
Effective marketing is essential to attract the right tenants or buyers and achieve your goals. At MDL Group, we employ a comprehensive marketing strategy to ensure maximum exposure and success for your property.
MDL’s Comprehensive Marketing Strategy
Our marketing strategy at MDL Group integrates traditional and digital tools to maximize exposure and attract the right tenants or buyers. Here’s a summary of our essential marketing tools and strategies:
– Professional Photography and Videography: High-quality images, videos, drone footage and virtual tours to showcase your property.
– Online Listings and Platforms: Listing your property on top commercial real estate platforms including: RealNex, CoStar, LoopNet, and Crexi, among others. When applicable we may create a dedicated property website for high-profile listings.
– Digital Marketing Campaigns: Targeted email marketing to our extensive database of potential buyers, tenants, and brokers as well as social media campaigns to generate interest.
– Direct Marketing Materials: Professional brochures, flyers, and strategic signage to attract local interest.
– Networking and Outreach: Broker events, open houses, and leveraging our industry connections to reach qualified prospects.
– Market Analysis and Reporting: Thorough market analysis to inform our strategy including identifying target demographics, competitive properties, and current market trends. Provide regular updates on marketing progress including metrics on inquiries, website traffic, and engagement levels.
Every property is unique, and so is our marketing approach. We tailor our strategies to highlight the specific strengths and opportunities of your property. By understanding your goals and the property’s unique attributes, we develop a customized marketing plan that maximizes exposure and attracts the right tenants or buyers.
Listing Agreement Implementation Schedule
After signing a listing agreement, clients sometimes feel left in the dark about the progress of their listing. To give you insight into what is happening behind the scenes to get your property ready to market, here is our implementation schedule at MDL Group.
Phase 1: Pre-Marketing Launch Activities
The first phase is our internal prep period — or “quiet phase.” This is when we gather everything needed to create the marketing materials to promote the listing.
These items include drone photos, space videos, floor plans, power availability, excluded uses, parking ratios, zoning, etc. The idea is to show your property “in the best light” so it makes a good first impression when it “hits the market.” Once we gather everything we need, our in-house marketing team creates the collateral needed to list your property. This could include:
– Signage
– Brochures
– Offering memorandums
– Email blasts
– Social media posts
– Uploads to various listing sites
Phase 2: Marketing Launch Activities
Once the pre-launch activities are complete, we prepare to “go live” with your listing. We believe it is important for your listing to be published simultaneously on several commercial real estate sites that yield the most exposure. There are four major sites in our market and five to six ancillary sites. This coordination, along with digital marketing through email blasts to the brokerage community and our proprietary database of potential buyers or tenants, provides the broadest market exposure. We enhance this outreach with social media posts to further increase visibility.
Phase 3: Fielding Inquiries
There are multiple steps involved in fielding inquiries about your property and qualifying potential buyers/tenants. Inquiries come from several sources usually by phone, email, or our social media accounts. Text messages have become popular recently as well. During this phase, we:
– Answer numerous questions from prospects
– Ask probing questions to determine the legitimacy and qualifications of potential buyers/tenants
– Understand the prospect’s motivation and fit with factors like zoning, timing, and financing
After qualifying potential buyers/tenants and collecting information from them, we may enter into a Confidentiality Agreement to provide them with the necessary information to evaluate your property. Throughout this phase, we continue to market the listing to prospective buyers/tenants and brokers.
Phase 4: Property Tours
Once we have vetted potential buyers/tenants, we can begin to show the property to those who qualify. We also conduct tours for brokers who wish to see the property prior to recommending it to their clients. Before the tours begin, we make sure the property is properly “staged” for the visitor. This includes arriving early to turn on all the lights, make sure the temperature is comfortable, and to clear away any debris or other eyesores. This sounds simple, but it’s vital!
During the touring phase, potential buyers/tenants may visit the property numerous times, or “retour”, in order to determine whether the property meets their needs.
Additionally, we may host an event in your space to highlight its features to the brokerage community. An open house format allows industry experts to familiarize themselves with your asset, facilitating prequalification of potential buyers/tenants and increasing exposure and interest in your property.
Phase 5: Reviewing Offers and Closing
Once we receive offers, we review and negotiate them to ensure they meet your goals. This phase includes:
– Reviewing all offers and providing detailed insights about each potential buyer/tenant
– Developing a shortlist of the strongest candidates
– Requesting “Highest and Best” offers from the finalists, if necessary
After selecting a preferred buyer or tenant and accepting a bid, we proceed with the necessary legal and financial steps to finalize the deal. We continue to market your property until close of escrow or signed lease agreements are received.
In Conclusion
Marketing your property effectively requires a comprehensive and strategic approach. At MDL Group, we combine professional visuals, digital and direct marketing, strategic outreach, and regular reporting to ensure your property stands out in the competitive commercial real estate market. Our goal is to achieve the best possible outcome for your investment.
For more answers to your commercial real estate questions, please visit our LEARNING CENTER.
The next blog in our series of “Answering Our Brokerage Clients’ Most Commonly Asked Questions” will be “What is the difference between an LOI, PSA, and an RFP?”
Everything starts with a conversation. Please let us know how we can help! Contact MDL Group.
