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:
Commercial property sales and investment sales will always be the ‘big money earner’ in the industry. Leasing and property management activities can always lead back to sales opportunities if you work the relationships generated and the people.
In this audio program, John Highman talks about three important processes as part of commercial real estate sales. Listen to the program and consider how you are doing those three things now.
Consistency and professionalism will help you build your real estate business with the opportunities that are available in your town or city.
You can have rent strategies for the short term or the long term. You can boost property value in a rental lift.
You can encourage a tenant to lease a property using fair and staged rents, or you can ask for the highest levels of income from the leased space and run the risk of a vacancy occurring.
Don’t forget that you also have net rents, gross rents, and incentives to work with in any lease negotiation. The income or rent that you start with can be enhanced over time, so look at the bigger picture when negotiating with tenants.
Don’t focus so much on the start rent, but the income over time. Look at the rent reviews and how they can support stable occupancy for the longer term.
In this audio program, John Highman talks about the rent and leasing strategies that are so important in today’s property market. You can listen to the audio and download it here:
Many things are or can be part of a formula for success in commercial real estate, however, just a few of those things will be part of the ‘base plan’ or the foundation for getting results. In fact, you cannot do without those basic activities if your career is to have any reasonable chance of […]
A sales team and its performance in commercial real estate can always be improved by implementing some simple planning and tracking processes. This doesn’t have to be ‘threatening’ to individuals in the team, but rather ‘supporting’, and so to help them find the right new business leads and opportunities. When you consider that the property […]
It is very easy to lose time or waste time in commercial real estate brokerage. The pressures of the day, property inspections, the listings, and the clients can easily overtake all your good intentions and planned activities. Somewhere in that ‘pressure’, it is critical that you control some of your time and appointments. You are […]
If you are working in commercial property leasing, there are many things that you can do to attract and create frequent transactions between tenants and landlords. Make the clear choices on just who you should concentrate on with most of your real estate leasing prospecting; refine your lease packages and services for tenants or landlords. […]
In commercial real estate brokerage, there are plenty of things that you can do with a sellers list. It’s a good foundation of new business opportunities if you do it correctly. Develop the list for yourself and work it deeply for your real estate business. The connections established with property owners as potential sellers in […]