In commercial real estate brokerage leasing, you need plenty of tenants to fill the vacancies that you will work with and will identify. At least half of your database should be filled with business based tenants and their leasing requirements. (NB – you can get our free Commercial Real Estate Course here)
Given that your brokerage zone will be a section or a segment of the city, in a logical and direct way connect with all the tenants in the zone. Understand what the tenants are thinking and doing when it comes to property occupancy and change.
Relevance of Database and Location
As a special note, the size and the relevance of your leasing database as it applies to the location and the property types will be a major point of leverage in winning new business.
When it comes to attracting landlords and property owners to your services, you will need some form of differential.
To achieve that ‘difference’, consider the following questions:
- How big is your database currently and how relevant is it to the location? The businesses within the list should be locally based and or regionally connected. Split that database list into major corporations and smaller businesses.
- Where are the good quality buildings in your town or city? Review the tenancy mix in each case. Understand exactly who is occupying the major properties locally and for what reason. When you know the top tenants, the better buildings, and the top corporations for the area, you can hone your prospecting efforts accordingly. You can drill down into the businesses that have the capability to grow and relocate as company profits allow. You will also understand the buildings that are best suited for some companies and corporations from a branding profile and operational perspective.
- Have you been keeping your database list and its contents up-to-date? The data within the database will be important in several different ways. At the top of that assessment will be accuracy and timeliness of the information you have gathered. Spend time each day connecting with the people within the list to see how business pressures and changes are impacting their occupancy decisions.
- Have you been connecting with new people in a regular and ongoing way? You will always need fresh contacts and connections to grow your real estate business and the leasing opportunities available. You will need high quality clients and particularly the local companies and corporations to work with from a leasing perspective.
- What are people thinking about property now? Understand exactly what they are thinking from a business and occupancy perspective. Look for the triggers and the pressures that influence those tenants and those companies to move. Through regular and ongoing contact, you can be there to assist them at the right time and in the right way.
So, there are some good things that you can look into and improve as part of providing professional leasing services to the local businesses and corporations.
Talk to plenty of people on a regular daily basis and refresh your database list with new information and upcoming property requirements.
The relationships that you build and encourage over time with carefully selected local companies and business leaders will help you strengthen and consolidate your leasing profile and professional leasing services.