It’s no surprise that in this digital age the most cost effective way to market your commercial property for sale or lease is via the internet. We are finding it ever more impossible to turn ourselves off from being ‘online’ or ‘connected’ to the world, be it through social media, text, or emails. It’s also no surprise that 90% of all enquiries for commercial property come from online websites. It’s a massive advantage to have an online listing when you are looking to sell or lease.
However, something I have noticed recently is effecting your ability to get a result. There is no need to panic though because there is a simple solution.
Firstly, let me tell you what this major problem is. I’ve noticed recently particular agencies uploading multiple online advertisements for a single property, for example, a large portion of land with a large open warehouse is being advertised multiple times through the same agency but with different size specifications. Take a property which has a 400m2 Warehouse with 1,000m2 of Hardstand. What we have been seeing is ads with various size amounts for lease resulting in multiple ads for what essentially is the same property. So there may be an ad for 200m2 of Warehouse and 400m2 of hardstand, then, that same location is advertised as 400m2 Warehouse with 400m2 Hardstand from the same agent. Individually each advertisement is possible. These are basic free online listings and cost the agent zero dollars. But here lies the problem. With this occurring, it effectively pushes your advert down the order, and when agents are uploading 5 of these ads for the same property in a matter of minutes it is quick for your ad to fall off the radar all together. Recently I noticed one particular agency holding the first 64 free online listings on a popular commercial real estate website for one particular suburb, many ads were multiple ads for the same property or ads of properties no longer available. The same practice is occurring for Warehouse Unit Complexes and Office Complexes, multiple ads for the same property or even listing ads for units not authorised by the owner.
The reason is simple, the agent wants attention, and they want to look like they are dominating the area. This is effecting your ability to achieve a result. 64 basic listings means if you have a basic listing prior to this mass uploading then your ad isn’t visible until page 7 of a prospected buyer/tenants search. So here lies the solution. It’s simple, it’s very effective and prevents this multiple listing by agents degrading the market and your property. You need to upgrade your listing online. Upgraded listings are crucial and may be done for as little as $495. With an upgraded listing online, your property will always stay above these free multiple listings of other agents and keep your property at the forefront of the market. Reports from website real commercial show that an upgraded listing also creates more enquiry on average. We recommend all our clients upgrade their listings online. It’s a proven method and cost-effective, and will keep your property at the top. Contact us for more information or advice.
Phil Grant – Director Commercial Sales & Leasing
NAI Harcourts Pinnacle