When you sell or lease commercial real estate, the signboard becomes an extremely important part of your marketing process. The greater the number of signboards that you can place on the good quality properties in your sales territory, you will usually find that the enquiry and new listings will be easier to achieve. Your telephone will ring more frequently with fresh new enquiries for properties.
Property owners want to deal with the agent that has the largest slice of the local property market. They want the agent that has the biggest database and attracting the most enquiries from other properties. Time on market today can be quite frustrating so the property owners and the business proprietors do not want to experiment with average agencies with low market profile.
So the signboard is a key part of your business profile and market penetration. On this basis the signboard should feature three things:
- Your name and contact details for any inquiry
- Significant and clear branding of your real estate office as specialists in the area
- Details of the property and the improvements to attract the target audience that you need
It all comes down to the perception of the marketplace. Signboards create the positive perception with the local businesses and property owners that you are the most active real estate agent in the area; the signboards also create ongoing enquiry at low cost and that is the foundation of a good database.
Here are some strategies to help you with your signboard process:
- Identify the main roads in your area, and get signboards on those roads and intersections wherever possible.
- Ideally you should be seeking exclusive or sole agencies for all your listings. In such case the signboard should be specially designed and placed. Vendor paid advertising should compensate for the cost of this special signboard.
- Research the rules and regulations that apply to the placement of signboards on properties for sale or lease. Municipal councils will have restrictions that you must comply with.
- Any openly listed properties should also get a signboard where possible, although those signboards will be ordinary in type, size, and cost. Invariably there will usually be a number of signs from different agencies on each property that is open listed. Many signboards placed on the one property will cheapen the marketing process for the property owner, but that is their choice. Still put your sign on your open listings.
- Undertake a signboard count in your territory at least once every two weeks. As part of that process you should be identifying the number of signboards in the territory and your percentage of those signboards. Other agent’s signboards on exclusive listings should be tracked for listing expiry. Time on market today can be lengthy and therefore the exclusive listings will commonly expire and become available for other agents to chase.
- Do a regular signboard survey of your listings to ensure that the signs are not damaged, destroyed, or covered in graffiti. In some sales territories and real estate markets, it is not unusual for other agents to deface or remove the signboards of successful agents. There are strategies around this problem such as the fixing process for the signboard, the quality of the signboard, and the proximity of the signboard to public access. If you are experiencing this problem, you will need to survey your signboards on a weekly basis to stay on top of the issue. Damaged signboards that are not replaced create a negative impression for your business and the property listing; in some cases other agents would like that.
- Only put a signboard on properties where you have a legally signed and accepted agency appointment. To do otherwise is foolish and will get you into trouble.
- When you sell or lease a property, get a sticker put on the board to show the status of the listing. Your success in the listing should be displayed to the local area; it will encourage others to talk to you even after the sale or lease processes are completed.
The property signboard is a silent but effective marketing tool. It has local area impact and it is as important as listing the property on the Internet today. Signboards are a key process to your market dominance.
When the signboard is placed on the property, it is the time to contact all the adjacent property owners and business proprietors. It is quite likely that they will want to talk about the listed property; so the signboard becomes the catalyst for prospecting.
The same contact process applies to the signboards of other agents. Any other agents signboard placed in your territory will give you reason to talk to the adjacent property owners and business proprietors near that board. Systematic questioning is part of the prospecting process and the way that you can get your database to grow.