As a commercial real estate agent, Chris Valeriote with Avison Young was blown away at the success he had in selling over $20M of industrial condo units which represented between 50 to 75 per cent of the project for the Hanlon Creek project in Guelph, Ont., via digital ads. While social media advertising has been popular in the residential real estate space for years, it’s still quite a revolutionary tool for commercial agents.
In fact, Valeriote says he had an “aha moment” when it came to digital advertising thanks to phenomenal reach that resulted in the success he had selling units for this small bay industrial project, with units selling under $2 million. This medium enabled him to cast a wider net to attract people who may be interested in purchasing units and generated qualified calls versus cold calls, which was a game changer for his business because he felt like he was always two steps ahead of any other strategy he has used in the past. This meant Valeriote’s time was better spent talking to would-be buyers than trying to drum up a cold call list.
The digital advertising platform used by Kingridge Developments’ Hanlon Creek project is run by Just Sell Homes – an online marketing service provider for real estate professionals that generates the advertising plan and captures all leads. All leads from the landing page that were generated by the digital ads were sent directly to Valeriote. For every 10 people who clicked on the ad, he says about three – or 30% – turned into actual interactions, which is an excellent rate of return.
Artist rendering of the Hanlon Creek project in Guelph, Ont.
And now that the project is under construction, Valeriote has a qualified list of interested buyers who may be prompted to make a purchase, given that the number of available condo units has significantly decreased since their last interaction. In addition, he also has a new database resource when selling similar condos in the future.
Using a data-focused approach to selling commercial and industrial real estate results in a phenomenal reach that just hasn’t traditionally existed in this space before, says Valeriote, whose newfound appreciation of social media advertising makes him excited for future projects as well.
Great opportunity for residential agents
This type of smaller unit project is a great way for residential agents to test their clients’ appetite for commercial properties as well – either for their clients to personally occupy or as investment opportunities.
About the 585 Hanlon Creek project
This premier commercial and industrial condo development located at 585 Hanlon Creek is part of the 675-acre Hanlon Creek Business Park. The development came to light in response to a significantly under-serviced market for well-priced, flex commercial and industrial space. With an emphasis on smaller units featuring plenty of parking, this project empowers businesses to build equity instead of renting, while growing the business in a central location five minutes from Highway 401, and close to Toronto, Hamilton and Kitchener-Waterloo.
The project is 75 per cent sold out and is now under construction. Move-in is slotted for mid-2023.
Click here for more information on the 585 Hanlon Creek project.
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