Advertising Your Office Property and Office Space
There are number of issues to consider when advertising an office space or office property. A number of factors influence how successful property owners are at marketing their property, including price and where you advertise your property. One of the first decisions you make will be determining whether you want to sell or let your property privately or hire an estate or letting agent to market your property for you. The following are general considerations when listing an office space or property.
To Let or For Sale
Before advertising, one of the first decisions a property owner must make is whether to let their space or put the property up for sale. Letting a property ensures some degree of income over a period of time. At the same time, it also requires the property owner or someone acting on their behalf to be a landlord and manage the property. Selling a property provides an instant source of income. Once a decision is made on whether to let or sell the property, you can cater your marketing strategy accordingly.
Establish a Competitive Price
A key element of a successful advertising strategy is establishing a fair price. A competitive price is often an important factor influencing the decision on whether or not to visit a property or make further inquiries. If letting an office space, do research to determine average rates for comparable properties in the location. Ensure that your price includes similar services or amenities as office spaces or properties with comparable rates. Similar research will also help you determine a competitive asking price for property you are selling. Speaking with an estate or letting agent will also help you establish an attractive price.
Define Your Space
A marketing strategy is only as successful as the message you are conveying. When advertising an office space or property, the description should help define the space. There is a wide variety of office types, including executive suites and shared office or co-working space solutions. Offices can also include an array of options, including workshops and industrial space. Make sure that your description is informative and appropriate, while at the same time unique and creative. Descriptions should be clear and tell potential buyers and tenants where the office is located, what it can be used for, what amenities and services are included, and any applicable buying or letting conditions. Information should also tell potential buyers and tenants how flexible the space is and, particularly for letting properties, if spaces can be catered to individual needs.
Use High-Quality Photographs
Including high-quality photographs that highlight the strengths of the property is crucial. Prospective tenants and buyers need photographs to determine whether a property or office space is worth visiting. Using poor quality photographs will likely not attract visitors or lead to enquiries about the property. Photographs should highlight common areas, including kitchens and meeting rooms. Include a photo of working areas and how it has been used in the past. An exterior shot and photos that help locate the property are also useful. For example, include a photograph of the street the property is located or nearby amenities and attractions.
Highlight Your Amenities
In a highly competitive market like London, tenants and buyers often make decisions based on factors beyond location and price. Amenities and services are of particular important to tenants letting office space and other commercial properties. When marketing your property or office space, include information about amenities. Firms and individuals looking for office space often want to locate in a property with high-speed internet, modern communication and information technology systems, meeting rooms, accessible facilities, and parking. Other amenities that add value to your property include underground or covered parking, recreational and leisure facilities, and green property management practices.
List Your Property Publicly
There are several ways to list your property. Online portals such as Rightmove are great ways to list property. Certain listing portals allow property owners and managers to list their office space or property free of charge. If a sale is made, a commission will be charged. Letting and estate agents also list properties on their websites. Since they typically charge a fee for their services, a letting or estate agent will also market your property among their clients and through any property catalogues they publish.
Use Media to Market Your Property
Placing an advertisement for your office property or office space in local and national media is a great way to make potential buyers aware of letting and sale opportunities. In addition to marketing your office space or property in local and national newspapers, place adverts in real estate related publications. If you have a large property with multiple sale or letting opportunities, you should also consider establishing a website for your office property.