"Clearly, the rules have changed over the past 10 years, both globally and also in the way you do business here in Australia."
Use all resources to find the right commercial property investment: Chris Lang
You will have noticed that most commercial properties are still being promoted using "push marketing", with large advertisements and plenty of hype.
Any involvement you may have had with selling agents has always been a transaction-based relationship. And invariably, you were "persuaded" to buy the property because of the sales pitch.
But everything changed around 2005 with the advent of social media.
Society began to reject these "push marketing" techniques, and turned in preference to "pull marketing", where you – the buyer – are now calling the shots.
What you are now seeking is a relationship based upon trust — where you can obtain all the information you require before deciding whether to purchase.
But sadly, most selling agents do not appear to have made this transition yet.
Sure, many of them have Facebook and Twitter pages. However, they haven't quite made the mindset shift needed for them to offer you the educational marketing approach you require.
Obtain all the necessary information
Now more than ever, you need to fully assess the latest trends and strategies given the current global scene.
Therefore, don't just be satisfied with the traditional sales hype and in-house research you've been receiving. Instead, carry out your own research.
Alternatively, gather around you some trusted consultants who can guide you in the areas of property selection, the law, construction and finance.
Bottom line: Clearly, the rules have changed over the past 10 years, both globally and also in the way you do business here in Australia.
Therefore, you need to undertake the necessary prep-work to ensure the ongoing security and growth of your commercial properties from here on.
Chris Lang is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website Property Edge Australia to help you get the most out of your commercial property investing.