When you are pitching for a listing in commercial real estate brokerage, consider the focus points of the client and the specific factors of the property itself. Then review the local market conditions. Your dialogue can evolve from those elements.
Develop your lines and ‘patter’ to engage the clients thinking. Avoid the jargon that we commonly use in the industry, and break things down into the core facts that really matter with the property. Simplicity tends to win more attention and closure on listing situations.
Give the Client a Clear Picture
Be specific and relative to the location and property type. Understand how you can add value to the listing process by specialising within a specific location and marketing the property specifically and directly to the right target audience.
In this audio program, John Highman talks about the ways you can direct the client’s thoughts in the listing pitch towards the things that matter so you are reducing the impact of any competing brokers.
As you work for different landlords with different property types locally, the market rents, and the occupancy costs vary from property to property. In this audio program, John Highman shares some ideas to help you improve your leasing market awareness and negotiation outcomes.
Of course you can work for either landlords and tenants in today’s property market. They can both be valuable clients to work for from different ends of the leasing equation. It doesn’t really matter whether you work for landlords or tenants, but it does matter as to how you optimize the rental position of your client as part of the leasing process.
As you strive to achieve better results in the leasing market today, consider the special factors of lease occupancy where you can add value to your client. Most particularly those factors should include the following:
– level of market rental
– lease duration
– lease documentation
– optimal use of leased space
– sensible balance of occupancy costs to area occupied
– vacancy minimization
– the budgeting of occupancy costs given current market rentals
In this audio program, John Highman shares some specific income growth strategies that you can use in commercial and retail property leasing today.
There are many things to explore as part of a new property management listing on your brokerage books. In this audio program, John Highman talks about the factors to question and review. Most particularly key matters to look into will include:
You can listen to the audio program here to understand exactly how you can approach the handover process in commercial property management today. It doesn’t matter whether you are managing a retail shopping centre, or a commercial office tower. The same strategies and processes apply. Attention to detail will help you with the fact review and gathering process.
Having spent a lot of time working on and in various building and leasing projects over the years, I know that the opportunities of working with commercial tenants and landlords today will always bring in other business openings into the future. (NB – you can get more commercial brokerage ideas here in our Snapshot program – its free)
Everything in our industry is linked, and your clients locally will usually have diverse needs in leasing, sales, and property management at some stage. It is all a matter of timing and relevance. Are you ready for some property leasing action?
Landlord and Tenant Opportunity
Recognize that a simple property lease transaction can open the door for you with a key landlord or business owner. Relationships are important. It can also be said that if you know plenty of things relating to local rents, lease documents, occupancy costs, property performance, and fit-out improvements, you can add considerable value to a property in capitalized cash flow. Strategy and ideas can help facilitate an agreement between a landlord and tenant.
In this audio program, I talk about the importance of the tenant and landlord relationship and how you can tap into it as part of your commercial real estate career.
How involved are you with your database list currently?
How accurate is that list?
Are you building some pipeline of contact with all the people in your list?
The secret to finding and converting more commercial real estate tenants will always be in your canvassing and prospecting activities as a broker or an agent; those are the specific activities that you activate and deploy every day into the local business community and or the tenants in your location. Landlords and tenants will be critical to the growth requirements that you have in commercial real estate leasing. Grow your contact model, and grow your real estate business.
Consider these questions:
How many new tenants to contact each and every day?
Understanding your town or your city, and the local businesses to you connect with regularly each 90 days?
If you were to show the landlord your database to impress them as part of the property leasing presentation, how impressive with your database be, and would it attract the landlord to your services?
Ratios and Results
There is a ratio to know and respect here, particularly as part of this leasing and investment property process. The number of listings that you convert exclusively over time will be influenced greatly by the number of landlords that you know personally and connect with regularly. Focus on building trust and confidence with the landlords that you work for. Provide regular updates of the leasing market together with comments leading to market rentals, incentives, and lease strategies.
Audio Program about Tenant Attraction
In this audio program, john Highman shares some of the proven strategies and ideas that can help you find better quality tenants and better landlords to work for. Honing your prospecting activities with a bias towards quality and ongoing contact will always be a valuable strategy to deploy. Connect with the landlords and tenants using relevant local information and local market knowledge. Connect with landlords and tenants at least once every 90 days.
Given that the industry can be so competitive, actions and points of focus for each agent or broker can be tuned to a process and results can be tracked. Know your market, do your research, and then take reliable and regular steps forward with listings and clients.
Career Focus Points on MP3 Audio
In this audio program, John Highman talks about some of the simple and yet highly effective skills that help build a career in commercial real estate faster. You can listen to or download the audio program right here: