Emotion and storytelling is an under appreciated aspect of commercial real estate. Residential real estate is full of emotional and imagination and dreams. Find out how you can do this with commercial real estate. We all engage with stories & emotion even if it is ‘all about the numbers’ in commercial real estate.
The commercial real estate industry is highly analytical, focusing on numbers, square footage, and financial returns. However, at its core, real estate is about people and their stories. This strategy delves into the concept of using storytelling and emotional engagement as a unique selling proposition (USP). It’s about moving beyond the numbers to connect with clients on a deeper level, creating memorable experiences that stand out in a crowded market.
The Strategy: Storytelling and Emotional Engagement
Storytelling in CRE involves crafting and sharing compelling narratives about properties, their history, their potential, and how they fit into the broader community or economic landscape. It’s about painting a picture that allows clients to see beyond the present and imagine the future possibilities.
How do you do this?
- Property Histories: Begin by researching the history of the properties you’re listing. Find interesting anecdotes, previous tenants of note, or how the property contributed to the community’s growth. This information can transform a standard property listing into a captivating story.
- Future Visions: Develop narratives around the potential future uses of a property. For office spaces, imagine and share potential success stories of startups. For retail spaces, paint a picture of community engagement and growth. These visions help clients see beyond the numbers.
- Emotional Engagement: Use high-quality visuals and virtual tours that do more than showcase spaces; they should evoke feelings. Think about what makes a space unique and how it could make potential buyers or tenants feel. Is it the panoramic view, the bustling neighborhood, or the tranquil ambiance? Highlight these elements in your marketing.
- Community Stories: Connect the property to its community by highlighting nearby developments, community projects, or testimonials from local business owners. This approach not only sells the property but also the lifestyle and opportunities the area offers.
What are the benefits?
- Differentiation: In a market flooded with similar listings and offerings, stories can make your properties memorable and stand out.
- Emotional Connection: Decisions in CRE, while based on financials, are also influenced by emotional factors. A story well-told can create a sense of belonging or vision that purely numerical data cannot.
- Enhanced Engagement: Stories are more likely to be shared and remembered. They can enhance engagement with your listings, leading to more inquiries and conversations.
What are the pitfalls?
- Authenticity: The stories must be authentic and verifiable. Exaggeration or misinformation can damage credibility.
- Target Audience: Tailor your stories to your target audience. The narrative that appeals to a tech startup might differ from one that resonates with a law firm.
- Integration with Data: While stories are powerful, they need to be complemented with solid data and financial analysis. Balance is key.
In the numbers-driven world of CRE, incorporating storytelling and emotional engagement into your strategy offers a fresh perspective that can captivate and engage clients in new ways. It’s about adding depth to the properties you represent, making them more than just spaces but stories waiting to be part of someone else’s story.
To effectively implement this strategy, start small. Choose a property with a unique story or potential and experiment with creating a compelling narrative around it. Monitor the response and refine your approach based on feedback and results. Over time, you’ll develop a powerful tool that not only differentiates you from the competition but also deeply connects with your clients’ aspirations and needs.