The 8th Second: How to Keep People Looking at Your Listing

Posted on: Wednesday, January 17th, 2018, under Uncategorized.

People’s attention spans are shrinking by the minute. Seven seconds is, in fact, the average. If digital content doesn’t hook people in those few seconds, they’re gone forever. So, how do you keep people looking at your commercial real estate listing for the eighth second and beyond.

Striking the appropriate tone, messaging, and topics dramatically increases the effectiveness of your listing. It’s all about making your listing seem like it’s speaking directly to the person clicking on it. These strategies will help keep people looking at your listing.

Go on a Virtual Tour

Video is a game changer for your CRE listing, and it’s becoming more and more essential in attracting attention. Most people prefer video over photos and written content. Adding a video tour of the property can give you a search-engine advantage.

You can record the video yourself using a smartphone, but hiring a videographer is a worthwhile upfront investment, especially if you have a large commission on the way. Put yourself in front of the camera as the tour guide. This can build trust and let you establish yourself on the CRE expert in your area.

A virtual tour of the property lets viewers better understand the property’s full scope, depth of space, how the light comes into the space, how rooms interconnect, and other criteria. Photos are still an important addition to the listing, but videos paint a more accurate picture.

Write Inventive Descriptions

CRE listings need detailed descriptions that highlight all the essential information about the property, but go beyond the basics. Square footage, number of rooms, and other standard characteristics should be included, but extend the description to what’s outside the property’s four walls. Talk about the neighborhood, tenants in the building, past uses of the space, and any other details that will highlight the property.

Be upfront about the not so great aspects of the property. Potential buyers and investors will appreciate the honesty. This gives the listing credibility and shows your integrity in the CRE world.

Get Social

It sounds obvious, but you should always share your listings on social media, both on your personal and business pages. A few-sentence description and eye-catching hashtags will get people to click on the listing. Sharing on social media also gives you the chance to broaden the listing’s reach.

Though it sounds simple enough, amazing visuals and accurate details are the best way to keep people engaged with your listing beyond the seven-second average.

What Role Will Big Data Play for CRE in 2018? Part II How Tenants Will Benefit

Posted on: Monday, January 8th, 2018, under Uncategorized.

Commercial Real Estate has always been, and will always be, an information-driven business. For example, we’ve always known that law firms often want offices near the courthouse and that creates a submarket that operates somewhat independently from the metro area at-large in terms of pricing and demand.

The big shift that the industry is making now is the drastic reduction in the investment, both financial and time-wise, of gathering information about the market and the ability to make real-time analysis – and thereby getting a competitive edge. For example, with data analytics, we can determine the borders of a submarket built around, say, Google’s offices, and help your client find a pocket right by where they want to locate that is at a discount to the submarket.

In other words: we’re shifting from using data to support pre-determined intuition and opinions to using it to develop opinions.

How Real-Time Data Will Give You a Competitive Edge

Right now, one of the biggest advantages real-time data gives you is being ahead of the pack. If you can analyze what was happening yesterday while everyone else is looking at data from last month, you can see the trends before everyone else and use that information to your clients’ benefit.

One of the first aspects we’re seeing CREs capitalize on is with comparables. Seeing actual recent transaction prices and cap rates rather than just the numbers publicly bandied about gives you better information to act on. This in turn enables you to let your clients know if this deal is a steal or if it’s better to pass as it should be lower in a month.

It can also help with site selection. If your client is looking to expand their office, you can use data on where current employees live and find the ideal location to minimize average commute times. You can then collate that data with current market prices and find the location that allows them to maximize productivity at the lowest lease rate available.

The Door is Open…But the Window is Shrinking

As we enter 2018, there is ample opportunity to grow your market share by having better information, and at a lower cost, than the rest of the industry. But that opportunity will fade and turn into a necessity.

There are 5 stages of technology acceptance: innovators, early adopters, early majority, late majority, and laggards. While CRE is still in the innovator/early adopter stage for using real-time data, the adoption rate will continue to grow quickly. There is still significant value to getting onboard now, but waiting 12 months could be forcing yourself to play catchup.

At RealMassive, we’re working to keep you ahead of the competition. Find out how by signing up for a demo today.