How Technology Stole the Show at Fashion Week

As fashion week participants create shows that are increasingly geared towards consumers, all sorts of technology is being used to make sure the designers and their creations reach as broad an audience as possible. While in the past the fashion shows were more of an insider affair, now many design houses are trying to reach out to a broader demographic and, of course, trying to boost sales. More and more, clothes are being offered for sale there and then, with some fashion houses offering a full brand range in a see-now, buy-now capacity – everything from the make-up to the accessories to the shoes. Technology now plays a huge role in all our lives and nowhere is this more evident than at the fashion weeks, where technology really stole the show, in some ways at least.

See-Now, Buy-Now

While most of the see-now, buy-now options were offered through each house’s existing e-commerce site and their physical stores, while Temperly London paired up with social app Vero to allow consumers to buy three of their fashion week looks right now.

Snapchat and Instagram Stories

While which of these will win their ‘format war’ remains to be seen, both were used fairly extensively at Fashion weeks. Misha Nonoo used Snapchat to slowly unveil her collection, while J Mendel documented his entire collection with Instagram Stories. Industry experts seem to think that Instagram Stories is the perfect medium for sharing fashion week with the fans.

Chatbots Taking Over

Shopability was a big thing this season and both Burberry and Tommy Hilfiger introduced AI run chatbots as a new user interface. With chatbots taking over our fashion shopping experiences, we better hope that they do not develop artificial intelligence that becomes smarter than we are!

Virtual, Mixed and Augmented Reality

Even the excitement of the shows themselves was not enough, it seems. Many shows had an element of alternative reality to them. For example, in New York fashion week, Intel worked with several designers to broadcast their shows in virtual reality, powered by Voke’s GearVR app, so viewers could feel as though they were right on the front row. Rebecca Minkoff worked with augmented reality, working with shopping app Zeekit to allow customers to upload a picture of themselves and see what they would look like in their favourite outfit from the show. Meanwhile, real innovation came in the form of mixed reality space, where an audience could wear Microsoft Hololens headsets to see an extra layer over reality. Soon, perhaps people all over the world could be watching a fashion show in their own living room and feel as though they are really right there.

One thing is certain, technological change is swift and fashion is not going to want to be left behind.

Commercial Agents – Tips to Increase the Sales of Commercial Property Today

When it comes to the sale of any commercial property today, there is plenty of competition to contend with. In most cities and towns, there are many good properties listed and being actively marketed. The biggest frustration in selling commercial property today is in finding the right buyers who can act with appropriate finance. In simple terms there are fewer buyers around; the experience and expertise of the real estate agent is more important than ever before in the sale process.

From the outset of the property marketing campaign, the specific target market should be the focus. All of the advertising should be written with a view to the targeted buyer. Clarity is important here.

All of the advertising for the property should be structured around the target and what they are looking for today; the advertisements, promotional material, Internet listings, and direct mail campaigns should all be similarly structured.

To understand this target market ask yourself these questions.

  • Where is the buyer for the property coming from?
  • What is the buyer looking for in selecting a property?
  • How much can they spend and on what terms?
  • What are the real features of the property that the advertising should be built around?
  • What is the best time of year to attract a buyer to the property?
  • What is the best method of sale that will attract the buyer to enquire and then to purchase?
  • What are the negative issues relating to the property that should be addressed prior to the campaign commencing?
  • What are the comparable properties nearby that frustrate the marketing process?

So these questions are critical to the property promotion strategy. The buyers in today’s property market are selective and fickle. There are fewer buyers around and negotiations take longer. That being said, the experience and skills of the real estate agent in the promotion, inspection, and closing of a property transaction is now more important than ever before. Knowledge and practice will help the process.

Every marketing campaign has to address the target market and promote the individual property. The days of generic marketing are gone. Specific target marketing with dedicated advertising that really encourages enquiry should be the main focus of every campaign.

The best ways to increase the levels of enquiry in every commercial property campaign include the following:

  1. The buyers of commercial property typically come from the local area. This means that your campaign should be directed to the local property owners and the local business owners. To achieve this focus, it is best to direct mail and telephone the owners and the businesses that own or occupy local property. Every piece of direct mail should be followed up to optimise the enquiry and the information.
  2. When any property comes on the market, within the first 24 hours ensure that flyers and information brochures are personally delivered to the neighboring properties and businesses within a radius of 500 metres.
  3. Place a prominent signboard on the property at the start of the campaign. This is perhaps the best and most cost efficient way of promoting any property. If possible ensure that the signboard has specifically been created with property information and sale details.
  4. When you draft your advertisements for the property promotion, use the keywords that apply today to the property type and location. These keywords will help the Internet Marketing and Internet listing. You can research the keywords from the larger search engines on the Internet. These keywords will be the words that the buyers of property are entering into the search engines when looking for properties to purchase.
  5. When the promotion of property commences, make personal contact with the database within your office. This means telephone calls and meetings with the appropriate people. The information and leads that you gather from the campaign will be helpful in other property promotions at a later time. All the information should be entered into your database.
  6. E-mail marketing will be a useful tool for every property promotion. Most agents are selectively sending out e-mail marketing each week. Any property promotion can be merged into this process.
  7. To sell a property today, the best method of sale should be selected. That will be the method that buyers respond to and act within. Do not choose a method of sale that can frustrate the potential purchasers. The
  8. Vendor paid marketing remains the normal and sensible alternative in every marketing campaign. Any serious property vendor will commit marketing funds to the promotion of their own property. Always ask for vendor paid advertising to comprehensively cover the target market.
  9. Create an inspection process and strategy that covers the property and its features. Understand exactly how you will take people to and around the property. Identify the right things to talk about with buyers, and get market information to support your presentations or inspections.

Even in this tougher property environment, good properties will sell. It is a matter of the agency working hard to locate the buyers and then promote the property effectively. This is a personal process when it comes to each and every property.

Open listings are generally a waste of time today as they always take longer to sell. Every serious vendor that needs to sell their property should commit to an exclusive listing and marketing campaign with one specialist commercial agency for a period of at least three or four months. If the property is unique then that time line will be longer.

Commercial Agents – Marketing Commercial Property the Right Way

The marketing of commercial property can be challenging as you really do need to meet and attract a small target market segment that finds the property of relevance and attractive. The experience and marketing strategy of the real estate agent today is really very important in taking the high end commercial property to the market.

Today there is plenty of commercial property on the market for sale in most towns and cities. So it is a buyer’s market, and only a certain number of buyers can purchase a property given the difficulties in getting finance. That being said, properties will still sell if they are correctly priced and packaged in the marketing; you have to reach the right target audience.

Some property owners will find it very difficult to sell, given that their property could be quite ordinary and not be well packaged for sale. Every property has to be ready for sale; that means prepared in a number of ways:

  • Presentation inside and around the property will influence the buyers choice. Any obvious problems of presentation should be rectified.
  • When the agent takes photographs of the property, they need to be careful as to the angle and the features of the property that they capture. A lot of damage to the campaign can be done through poorly framed photographs in an advertisement.
  • If the property is being sold as an investment, it is wise to rectify any matters relating to the tenancy mix and the lease profile. If any leases have unfinished matters outstanding with any of the tenancies, they should be completed and closed.
  • If any rent reviews are still to be negotiated or are coming up soon, it is best to complete them and implement the rental change as soon as possible. The rental will have impact on the potential sale price through the process of capitalisation and return on investment.
  • If any leases are coming to the end of lease term, the pending vacancy could be a negative factor in the sale marketing campaign. Decisions need to be made regards the vacancy and how it should be handled prior to the commencement of the campaign.
  • Identify the features in the property that will attract the enquiry. That enquiry should be from the identified target market of potential buyers.
  • Check out the competition property that will be on offer at the same time that you market your property. What are the differences between the properties and how can you take advantage of the situation?
  • The first two or three weeks of the campaign are really important. During this time you will attract the enquiry providing the campaign is correctly structured. Make sure that your marketing is focused directly into this key part of the promotional activity.
  • There are lots of marketing tools to use when taking a property to and through a sale campaign. The right choices need to be made based on the right method of sale. If you make the wrong choice of method of sale, you could frustrate the levels of enquiry. A case in point is when you use an Auction method of sale and you know that most buyers cannot operate in that type of sale process.

Even in the toughest of times and in the slowest of property markets, commercial property will sell. It takes a great real estate agent with creative marketing and sale tools to attract the right levels of enquiry.

Establishing Credibility As the Top Commercial Agent Today

There is a lot of difference between being a local commercial real estate agent and being the top commercial real estate agent in your area. The latter requires consistent effort and significant market share. Everyone aspires to the position of being top of their market and that is just fine, however if this is your focus, you really do need a plan to bring it to fruition and reality.

The top agents are really there at the top for one main reason and that is because they have driven their market share consistently. Their client services in commercial property are superior and clients want to deal with them as the top agent because they know that their chances of success are much greater and faster. That being said, the top agent has to consistently list quality property in a way that suits the current levels of enquiry and the prevailing market conditions. The top agent knows what the property market wants.

The best agents also know how to list property correctly and consistently to get the best results. When they take on a listing, they totally believe that the desired results of sale or lease at the price or rent are quite achievable. They then build their marketing process to suit the needs of the client and the prevailing market conditions. It is quite common for the top agent to refuse to take on listings that are incorrectly structured or of low quality.

So what makes a top agent consistently better than the rest? Here are some ideas to help:

  1. They continually prospect into the local area so that they have a growing database of businesses and property investors looking for change or opportunity. They also understand the needs of those particular groups regard timing and property type. They track this opportunity through a personally maintained database.
  2. You will usually find that the top agents list only or in the main, the best properties in the local area. This is because they make choices as to what they will take on and market; they know what works and avoid what doesn’t. They believe that they can bring about the results that the client requires given the prevailing market conditions.
  3. Top agents will have more signs in the local area on quality properties. This gives the perception of market coverage and agency success. The majority of those signboards should be specifically designed for the particular property. Feature signboards always have greater impact when compared to the generic signboards of other agents.
  4. The listing of property on the Internet is a common factor and strategy in marketing. You can improve your chances of enquiry when the adverts are specifically written to the target audience using keywords that search engines prefer. You can also enhance the listings through some premium placement and ranking. This will cost extra money but most top agents have no problem in obtaining vendor paid marketing funds.

Top agents know that they are selling a concept when they pitch for a listing; they are selling the concept that they are the best agent in the area and on that basis they have the tools to help the client.