In an industry as complex and competitive as commercial real estate (CRE), marketing is not a choice—it's a requirement for survival. The recent "Building CRE Report" by Buildout confirms this by shedding light on key marketing trends and strategies.
According to Buildout, marketing starts with presenting a property listing in an appealing manner, setting the stage for every subsequent interaction. In fact, more than a third of the market listings leverage Buildout's sophisticated marketing software. Marketing, then, is not just an add-on, but an integral aspect of the entire property transaction lifecycle. In other words, failing to focus on marketing is a direct path to falling behind the competition, irrespective of market conditions.
When it comes to lead generation, more is unequivocally better. The report states that properties with little to no marketing activity lag behind in lead generation, attracting an average of only 7.25 leads. Meanwhile, listings that deploy a range of marketing materials—such as Offering Memorandums (OMs), proposals, brochures, and flyers—alongside extensive email campaigns, witness lead volumes that are 2 to 3 times higher. Download the report to dig deeper into the findings of Building CRE.
It's crucial to note that the size of the brokerage or the price of the listing doesn't significantly affect these metrics. Interestingly, mid-sized brokerages seem to outperform larger enterprises in lead volume, indicating a focus on personalization rather than mass production of marketing materials.
The Building CRE Report also provides a nation-wide snapshot of marketing efforts across five US regions. For example, the Midwest leads in the average total number of documents created, whereas the Northeast lags. When it comes to emails sent, the Midwest also dominates, while the Southeast leads in total leads generated. These regional differences underscore the need for brokerages to adapt their marketing strategies to local trends and preferences.
We are living in an era of marketing evolution, catalyzed by technological advancements and a deeper understanding of consumer behavior. Buildout’s acquisition of Oval Room Group, a leader in visual media, is a testament to the growing significance of high-quality, visually appealing marketing materials.
In sum, Buildout’s latest report underlines that in CRE, marketing is not just about ticking a box—it's about strategizing, personalizing, and relentlessly pursuing excellence. For those willing to adapt and innovate, the rewards are abundant.
