The Secrets to Finding More Commercial Real Estate Tenants

If you work in commercial real estate leasing, it will be critical if not essential that you know plenty of tenants in your location. Look at your database now, and understand the relevance of that list to your prospecting and commission activities. (NB – you can get plenty of commercial real estate leasing ideas in our free Snapshot program here)

  • 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?

 

Contact Activities

 

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.

 

Here is the audio program:

 

A Few Powerful Secrets in Commercial Real Estate Leasing

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:

 

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.

 

How to Discover Clear Market Trends in Commercial Property Leasing

As you look around your town or city, the property market is always changing.  The landlords and tenants are under flux and change.  You can work with that change.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)

If you know about the supply and demand for property locally, you will understand just how to connect the right tenants to certain vacant properties in your city or precinct.

In this audio program, John Highman talks about the market trends that you can work with in commercial real estate today.  Understand that the best properties to lease will always be the better quality ones in the locations that are attractive to businesses.

Get the audio here:

Control the Leasing Market and Be Your Own Boss

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: