When it comes to commercial real estate offering memorandums, quality, look and feel isn’t the only thing that matters. Speed and your ability to get investment opportunities to qualified prospects is a detrimental aspect of the sales process. STOP putting commission checks on hold because of internal marketing bottle necks. Make sure you have the right team in place to ensure you’re developing a dynamic product that is delivered to the market in a time sensitive manner.
From our experience, we’ve found a pattern of issues that lead to marketing packages with an unimpressive design, package that’s lacking necessary content or a package that is slow to reach the market. Look to the below as warning signs and if you’re experiencing the following, it may be time to make a change.
Unqualified Team Member
Everyone has limitations and it’s the nature of every business, regardless of the industry to ask employees or team members to work on tasks that they’re not qualified for. The intricacies in both design and commercial real estate knowledge needed to create a dynamic offering memorandum is significant and the result of an unqualified team member working on these packages could be disastrous.
Lack of Resources
There are a lot of moving parts when developing offering memorandums – design, financial analysis, mapping, area overviews and so on. Lacking either the necessary software or qualified professionals will lead to an incomplete, mistake prone or visually boring package.
Several team members should be in sync throughout the development process. The analyst, graphic designer and lead broker should all be on the same page with the content as well as the ongoing project status. The whole team needs to be on board and communicating effectively to guarantee the offering is ready when it’s time to hit market.