Even in a recovering market, the first few weeks after turnover are the make-it-or-break-it time, and every day that a property sits vacant hurts your ROI. It’s during times like these that you see the gaps in your workflow, and for many CRE teams, it’s their sign deployment. A lot of teams are still working out of spreadsheets and email threads, which can make getting signs installed take twice as long as it should. The faster you can flip the switch on signage, the quicker you can get back to positive cash flow.
In this blog, we’ll break down what vacancies are really costing you, how your current sign processes are hurting your team, and how signage actually moves the needle on leasing velocity.
The Real Cost of Vacancies
Most CRE teams know that vacancy isn’t free, but seeing the full scope of what it costs is still shocking for most. If you have a mid-size office suite (about 10,000 square feet) that’s been sitting vacant, with an average asking rate of around $32-33 per square foot per year, that’s roughly $27,000-$28,000 in monthly rent potential being lost. That equals out to about $900-$950 per day. That doesn’t include other carrying costs that some teams have to deal with, including:
- Utility costs
- Janitorial services
- Security walkthroughs
- Insurance premiums
- Property taxes
- Maintenance costs
Depending on where the property is located, that’s easily another thirtyish percent of costs and is even more expensive for industrial properties. Add on top of all of this the cost to market the listing and multiply across multiple properties – time is of the essence to get these spaces occupied as soon as possible.
Quality Signs Sell Spaces – Here’s the Proof
While your online presence matters, ignoring the impact of visually appealing signage can leave you missing out on quality leads. This is a marketing element that, once installed, works 24/7 without any extra effort from you. Ask any leasing agent who’s worked high-traffic corridors or retail strips, quality signage isn’t just supplemental – here’s the proof:
- Hyper-Local Reach: Digital marketing is essential, but driving by and seeing a sign in front of a property still drives buyer interest. It can be easy to dismiss properties when you’re doomscrolling through dozens of them, but getting to see it in person makes an impact. Having QR codes that give buyers additional info is a great way to bridge your physical and digital marketing tools.
- Low Cost, High ROI: A quality sign is an efficient tool, especially when compared to paid digital ads. Once it’s installed, it doesn’t require any ongoing spend; it acts like passing advertising that runs 24/7.
Why Sign Deployment is Such a Bottleneck
Many CRE teams still implement the old signage deployment process that’s little more than a chain of handoffs. The broker emails the sign designer, who sends back proofs; then they go back and forth with revisions (often for multiple rounds). When the design is finally approved, the fabrication can start, and permitting and local regulations need to be verified before installation. Assuming nothing is wrong, and the sign doesn’t need to be redesigned to fit local code, you can finally schedule the installation.
This process is wildly outdated, and if a single line breaks, the entire process screeches to a halt, and sometimes you end up having to back track. A simple “for lease” sign that should be a 7-14 day sprint can take more than 4 weeks to complete. In some denser markets, like New York, permitting alone can take a couple of weeks.
With a strong workflow, signage can be a low-cost, high ROI marketing tool in CRE. It doesn’t require ongoing ad spend, and it’s hyper-local. Fortunately, there’s an efficient way to centralize your signage deployment so it stops being a liability to you.
IMS: The Platform to Improve Your Sign Deployment
Many CRE teams are discovering how the modern, centralized platform InstallMySigns is changing the signage game and giving them a competitive advantage. Our platform can take you from “we need that sign up yesterday” to fully installed in a matter of days (not weeks). Just ask Amy Schifman, the Marketing Director at Colliers Detroit. She’s been in CRE for over 25 years and managed thousands of sign projects over the years. In her words, IMS has become “the most important tool in my marketing toolkit.” Here’s what makes it work so well for CRE teams like hers:
- 60-Second Sign Ordering: Submit your order info in under a minute, and the workflow will kick off automatically.
- One Centralized Dashboard: Every order is in one place, so you can easily find real-time updates. No more tracking email threads or spreadsheets for updates.
- Built-in Communication & Proofing: From the platform or mobile app, you can upload images, design sketches, branding guidelines, etc., right in the thread. This feature expedites all approval processes while documenting each update.
- Local Sign Installer Network with National Reach: Connects CRE teams with sign installers across the country, simplifying communication between teams. The platform even includes a real-time city sign code database and permit tracking module.
- AI-Powered Workflows: The workflow is automated with reminders and status changes, so you don’t have to babysit every step of the process. Thanks to this workflow, Amy’s team pulled off a 50+ property rebrand in under 3 weeks.
Cut Down Your Vacancy Time Today
In commercial real estate, things are finally settling down, and recovery is happening. Don’t let this opportunity slip away from you because of broken workflows. If you’re still wrestling with email threads and spreadsheets, IMS can significantly improve your workflow. Check out the InstallMySign platform demo or start your free trial today.