Brokers Adapt to New Protocols for Marketing Space
We’ve heard a great deal about changes to office and retail environments post-COVID. The process of marketing and leasing the space is another aspect of commercial real estate that has been impacted, at least in the near term, CBRE says in a new paper.
Once “nice to have,” virtual touring is now a must, says CBRE. Although virtual touring isn’t a new concept, “it became a necessity during COVID-19 shutdowns, and leasing and sales professionals were forced to become virtual marketing experts. Now, greater comfort with the technology, combined with travel restrictions and cost-savings initiatives, will lead to out-of-market investors and tenants virtually touring dozens of properties before making a short-list to tour in person.”
Virtual tours take a variety of formats, from 360-degree virtual walk-throughs to various types of marketing video (an area where Connect Commercial Real Estate’s Connect CREative platform has had ample experience).
These aren’t the only components of virtual marketing. CBRE also cites listing and sales management platforms, “dynamic property marketing” and adroit use of social media as essentials of the new normal.
And just as the pandemic has mandated changes to the “how” of marketing properties, it has also caused a shift in the “what.” Before COVID-19, says CBRE, “most property marketing emphasized in-demand amenities like communal gathering spaces. Today tenants want property features that support a healthy and safe building environment and a property owner that cares about their tenant’s well-being.”
Back in those bygone days of, oh, six months ago, tenants were asking for fitness facilities, indoor meeting spaces and onsite food & beverage options. Today, indoor air quality, outdoor amenities and touchless technologies are at the top of the list.
In-person tours of the space have become more of a logistical juggling act than simply coordinating busy schedules and booking appointments. Post-COVID, there are state, local and Centers for Disease Control guidelines to follow, arrangements to make for deep cleaning of the space beforehand and, often, waivers to obtain from the property’s ownership.
“While virtual tours are replacing in-person tours in many instances, physically visiting a short-list of properties is likely necessary to make a final selection,” says Emma Buckland, global president, property management at CBRE. “Both parties are working together to support health and safety protocols for existing and prospective tenants during on-site tours.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Lease
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