Everyone loves self-promotion. Unfortunately, not all of us are good at it. That’s why the public relations industry flourishes. While you may have a talent for leasing buildings, you should probably leave the publicizing up to a professional. But how do you know who to hire? And what should and shouldn’t they be doing for you?
These are just a couple of the questions that make agents uneasy about hiring representation. Though it may seem like a scary prospect, a good PR representative or agency can be worth their weight in gold.
Here are a few basic tips to remember when diving into the PR pool.
1. Look at Their Clientele
An experienced public relations professional will have a long list of clients and samples that she’s happy to share with you. Though PR reps sometimes have to sign non-disclosure agreements that bar them from discussing certain clients, most will have worked with many clients that they can talk about freely. Not only should you scan their lists of current and past clientele, but you should also ask for three references to contact.
2. Check Their Expertise
All public relations professionals tend to perform the same tasks. The subtle differences lie in the industry’s nuances. While any PR rep can draft a release announcing your latest closing, one who specializes in commercial real estate will know how to precisely word the release and which aspects of the deal to tout.
3. Ask About Media Contacts
A PR rep can be well versed in the commercial real estate field, but their knowledge will get you nowhere if they don’t have the contacts to back it up. Strong candidates will have an exhaustive rolodex of relevant print, online and broadcast media outlets. They should know all the key editors, and these editors should, in turn, know them.
4. Review Their Media Placements
Media placements are the PR equivalent to closed deals. Just as any agent can secure any client, a PR professional can represent a lot of big names in the industry – but if she doesn’t have the results to account for all her time and effort then that time and effort (not to mention money) isn’t really worth anything, is it? The best representatives will have a well-rounded brag sheet that includes client spots in feature stories, hard news, profiles, Q&As, and trend and industry reports.
5. Agree Upon a Method of Payment
Some PR reps require a monthly, quarterly or yearly retainer fee, which you must pay regardless of whether the media shows an interest in you or not. Others work on an hourly basis. Paying by the hour can get expensive if you plan to utilize a rep’s services often, but it can save you money if you only need assistance a few times a year.
There are also some PR reps who will charge a bonus fee for every media placement they secure. Unless they can promise you a large feature story or your picture on the front page of the most read magazine in the industry, this type of agreement isn’t usually advantageous to agents.