Career Steps in Commercial Real Estate
Why You Should Choose a Commercial Real Estate Specialty
Choosing a real estate niche, particularly in the area of commercial real estate, can be an effective strategy in setting you apart as a sought-after professional and an expert in a particular kind of transaction. Take Louis Ceruzzi, of Louis Ceruzzi Properties, for example. He has established himself as a leader in the real estate development industry and specializes in the areas of retail and restaurant properties. This is a method that can work well in areas like New York City and other metropolitan venues. Keep in mind, however, that specializing could limit you if you live in a smaller region. It can be scary to set yourself apart in this way by deciding to focus on just one or two types of real estate. You don't want to alienate potential customers or lose other types of business, but the rewards of creating your own unique brand can be great. Let's take a look at how to find your perfect niche and the advantages you could gain from doing so.
There are a number of specialty areas within the commercial real estate sector. Some of these include retail space, office buildings, business brokerage, industrial facilities and multi-unit residential investments. In order to choose your preferred niche, you'll want to first consider which is the most under-served in your area. Doing so should automatically put you ahead of the competition as long as there are clients looking for properties in this particular segment. It's also important to try to choose a specialty area that excites you and that you are passionate about. This attitude will be obvious to your clientele, and it will help to sustain you as you build your brand.
Choosing Your Specialty
The next thing you will need to do is to market yourself as the area expert in your chosen commercial real estate specialty. You'll want to be consistent with your branding to send a message that you are the premiere expert in the region. Start with your website. Make sure it reflects your new niche by adding key words, setting up a blog and adding regular content in your area of specialization. You'll also want to have marketing materials designed to reflect your new niche. These should include postcards, business cards and pamphlets. You may even want to have a personalized logo and slogan developed, as this visual continuity will help to cement your brand in people's minds. Be sure to take time to truly learn about the needs of the clients in your specialty. Then write your marketing message to indicate your ability to meet those needs.
Talk to People
Learning all you can about the needs of local clientele is essential to every aspect of developing a specialty and marketing it effectively. That means getting out there and talking to everyone you can. Start within your network if you need to discover the correct people to target. Ask a trusted mentor or colleague for advice. Consider bartering with marketing professionals who can help you to best get your new brand noticed. Be creative, and spread the word.
Follow these tips to get started on your journey to choosing a commercial real estate specialty. Take time to do your research and gain expert advice to be sure your efforts are strategic and targeted. Before long, your efforts will start to pay off.