The listing is solid, but the traction is light, sound familiar? Obviously, the main reason brokers post listings are to sell, or lease properties. Sometimes the listing side does not think about the buying side when they post a listing for lease or for sale. People want all the major specs on the offering before they look into it. If you are leaving out most of the specs (Price, Cap Rate, Location, a Picture), or have “Contact us for more information” posted, you are going to see interest drop of, as people tend to assume the worse and/or that it’s over priced.
The reason for posting assets for lease/ for sale on a listing platform is to give your asset more exposure, increase demand to command a higher sales or lease price, and complete a transaction. There are two important items of note here when listing a property on a CRE listing platform:
- Enter enough information on the listing, so people know if they are interested, or not. Posting little, or vague information scares people away and it may fail to weed out the wrong people (either they are looking for something different, or think a 6% cap can be bought for a 10% cap). Implementing full information saves the broker a lot of time in the long run and allows the hunt for a tenant/ buyer to be a rifle hunt, rather than a shotgun hunt.
- Adding additional language in the Overview and Key Points’ boxes to increase the listing’s search ability in listing platforms and outside search engines. If you have a “Furnished Office” for lease put that in the overview, so if someone searches “Furnished office” in the search bar in a listing platform, or on google your listing has increased odds of being found. Granted this really only comes into play if the CRE Listing Platform is on an Open-Network (Free Listing Platform, where all humans and search engines can access all listings). LDCRE is 100% Open-Network, majority of other CRE Listing Platforms are partially Open-Networks, locking out some listings, or material aspects of listings.
The US Commercial Real Estate Market is a $15 Trillion Market with millions of properties for lease, and for sale. If you want your listings to standout, reach a larger audience, and gain traction via online listing platforms provide rich details on your listings and post them to Open-Network listing platforms. An Open Network listing platform is a listing platform that is 100% free with out barrier/ viewer restrictions and is accessible to all parties and search engines. Listing platforms that require some form of paid subscriptions for viewing listings are consider Closed-Network, and listings within Closed Networks are typically not made available to search engines and non members.
Open-Network Commercial Real Estate Listing Platforms like Leavitt Digital are free to post, and search for all parties and search engines. This means that people can be searching Google, Yahoo, Bing, etc., for “San Francisco Office Space for Lease” and if you have those words embedded into your Property overview the odds increase significantly that your listing will come up within said search result.