The fact of the matter is that leads are always available to those people that look and question the events, facts, and people in the property market. Asking questions at the right time, and noting the changes in the property market will help you find your next opportunities for listings and commissions.
In this audio program, John Highman, Commercial Real Estate Coach, talks about the different ways to generate leads for listings and property transactions.
If you are working as an agent or broker on the leasing segment of the market, then look to the ways that you can improve results for the clients and the properties that you serve. A focus on ‘results’ allows you to convert more listings of better quality, and on an exclusive basis. You could say that ‘relevance’ is at the centre of all of that focus and conversion.
When you control the property market and your listings, you can build more momentum into your property efforts.
If you are perceived as the top agent for the location or property type, then ‘exclusive’ listing conversions will not be such a problem.
Create Your Opportunity this Way
Let’s drive some more opportunity your way. Answer this simple question. How can you bring better results to the clients that you serve in property leasing? That’s the question that you need to answer in a very visible way locally.
The tenants and landlords of the location should know you as the ‘go to person’ for resolving leasing challenges. Your leasing ‘visibility’ has to be specialized and locally driven. Here are some ideas to help you do that:
Finding more tenants – Get to know more tenants comprehensively. It is one thing to know who the tenants are in a location or building; it is another to know what they are thinking from an occupancy perspective. The best way to get to know tenants for a location is to concentrate in streets, properties, and business types. In that way you are not ‘shooting blind’. Specific tenant contact will help you with your conversions.
Improving market rents – Hopefully you know what rents are for a location and property type. Property age will have something to do with the rental levels, and market rent will be impacted by supply and demand for the location. So look at those things and determine how you can improve rents for the landlords that you act for. Merge those ‘income improvement’ statements into your listing or client presentation.
Strengthening investment performance – You can improve lease outcomes and results in an asset over time by creating a better lease document with better tenants. All of that will happen from the initial lease negotiation. Look at negotiation on the lease from your client’s perspective; drive that aspect forward. Look at the averages of rent for the property type, understand the asset in question, and build better landlord or tenant perspectives on why the property should be leased in today’s terms.
Shorter time on market – Vacancies cost money within the investment, so find ways to shorten the time on market. Asking rents will have something to do with that, but also will the factors of marketing, negotiation, and inspection. You can improve your professional processes in each of those 3 ways for the transactions you are working on and your clients. Create more inquiry per listing and seek to create better marketing outcomes for all of your exclusive listings. They are the properties that really matter, so shorten the time on market for your exclusive listings, and show your clients how you do that in a positive way.
Relevance is everything in commercial investment leasing. Create significance in your professional property services. Focus on results for your client.
A vacant commercial property is a significant frustration for an investor. They are loosing out on rents and outgoings recovery. Over time that can all add up to a large amount of money and financial discomfort. Look at vacancies for the opportunities that they are for you in leasing brokerage.
In commercial real estate brokerage leasing, there are many things that you can do to improve property performance for the clients that you serve. Ultimately that means tenant placement and rental improvement.
The landlords in your town or city are doing their best to avoid vacancies and or poor tenant mix results. So that is where you can help. Create a good database of tenants and market that service to the landlords that own high quality properties locally. You can also connect with the larger tenants in the location so you can provide a tenant advocacy service.
Here are some ideas on MP3 audio to help with your leasing services and professional skills:
Every commercial property vacancy is an advantage to be seized. The landlord is likely to be moving through some challenges of rents, occupancy and tenant mix. You can do something to help, particularly if you know something about rents, lease enquiry, and tenant placement.
In this audio I talk about the things that you can do with property leasing. Be versatile with the services that you provide and look at the vacancies locally in your town or city for a business opportunity.
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