The commercial real estate industry continues to be fiercely competitive. This makes it even more important to have a strong public relations presence. At Fort Lauderdale and Aspen-based public relations and marketing agency Durée & Company, we have extensive experience publicizing commercial real estate (CRE) companies and helping them create buzz about their latest transactions, including listings, leases, sales and purchases.
An effective PR strategy will not only get the CRE company featured in the media, but it also helps build the company’s reputation and overall brand. Plus it can lead to future business opportunities. Here are four tips for publicizing a commercial real estate closing.
Disclose all details to the media.
If there is a non-disclosure agreement (NDA) and neither the seller nor buyer can disclose any key details, then media outlets will likely pass on writing a story.
Details that reporters require to consider editorial coverage include:
- names of the buyer and seller,
- who represented the buyer and seller,
- closing price,
- closing date,
- how much it closed for,
- who provided financing, and more.
Having these required details doesn’t necessarily confirm a story. They are, however, the first step for a reporter to consider before they will potentially cover the real estate transaction.
Distribute the press release as soon as the property closes/as soon as possible.
A press release has the best chance of gaining coverage if the closing happened within 48 hours. Of course, that doesn’t mean there will be no coverage if it’s distributed outside of that window. But after 48 hours, most media outlets will consider it “old news” and may not cover it. This also depends on how big the closing is and who is involved. If it’s a major closing, some outlets may pick it up a week or so after it closes. There’s no one-size-fits-all answer to how far after a closing media will write a story, but your chances are best within the 48-hour window.
Be aware of any PR that the “other side” may be doing.
Sometimes the buyer side and the seller side have different public relations agencies. Each agency wants to make sure that their client is being positioned correctly, the deal is represented properly, and that the information being distributed to media is cohesive.
Often, one final version of the press release may be finalized and used by both agencies. The two public relations agencies should work together. This can ensure they don’t send to the same media outlets, or they can decide to have only one agency distribute the press release.
If both agencies distribute a release, make sure to distribute them at the same time. If the seller distributes the press release a few days before the buyer, or vice versa, and secures a story, media may consider the press release old news by the time the second agency distributes it since a story already ran days before they received the news.
Take high-res images or hire a photographer.
As the adage goes, “A picture is worth a thousand words.” No matter what industry you are in, images are essential when distributing a press release. Images amplify the content and make readers more interested in the story. Most publications require high-resolution images (300dpi) to avoid grainy/blurry photos. Images also help sell the story to the reporter and help greatly with securing coverage. The photos should have a photo credit with the name of the photographer who took the photos.
At D&Co, we extensive experience publicizing commercial real estate transactions, including listings, leases, closings, sales, and purchases, and how to target the right reporters and media outlets. Our multifaceted approach to a strategy and our proven client engagement process empowers clients within the commercial real estate industry to attract audiences such as tenants, buyers, developers, builders, brokers and more. If you are looking for an experienced public relations agency to garner press for your commercial real estate firm or project, contact us at 954-723-9350.
About Durée & Company, Inc.
Durée & Company, Inc. is an award-winning, full-service public relations, marketing and special events firm founded in 1999. The firm has offices in Fort Lauderdale, Florida, and Aspen, Colorado. Durée & Company serves the corporate, agency and nonprofit arenas for local, national and international clients. Services include public relations, social media, marketing, digital marketing, content development, advertising, special events, branding, radio promotions, affiliate marketing and more. Durée & Company clients include well-known names in yachting, business, real estate, hospitality, travel, health and wellness, cannabis and psychedelics, art and culture, fashion, nonprofit organizations, cryptocurrency and technology, legal and professional services. Durée & Company is a member of PR Boutiques International™ (PRBI), an international network of boutique PR firms. To learn more, call 954-723-9350; go to dureeandcompany.com; cannabismarketingpr.com; or psychedelicpr.com. Join the social conversation and follow Durée & Company on Facebook, Instagram, Twitter, YouTube and LinkedIn at @DureeCoPR.