If you are to be part of a successful commercial real estate brokerage from a leasing perspective and convert more commissions over time, you will need to establish some professional services and points of focus to attract the tenants to your business over that of your competitors. When you have plenty of tenants to talk to, the landlords will also find it difficult to ignore your expert services.
A comprehensive leasing brokerage service will support both landlords and tenants in a number of different ways; adjust your marketing to attract both groups of people. So what should be your initial targets? You need plenty of tenants in your database to convert business opportunity evolving from landlords and vacancies. Focus initially on that fact.
When you look into your town or precinct, you will see plenty of businesses in occupancy and some will be ready to move into another location and/or building. You want those businesses to approach you at the right time. You want those tenants to remember you as the best agent for solving their relocation issues. So how can you do that?
So the message here is that you really do need to attract the tenants to your professional services if you want the commissions and market share in local area leasing. Your brokerage brand may have some form of attraction in the market place, although most of the leasing business you create will be through your personal efforts in prospecting both landlords and tenants. Get to know the landlords and the tenants throughout your precinct.
5 Factors of Leasing Attraction
Here are five ways to attract more tenants to your brokerage and your professional services:
- Regular Leasing Updates – When you consider your location, the zones and the precincts, there will be plenty of things to talk about in both lease rent and vacancies. Provide a simple leasing update newsletter or information sheet that you can take with you in local area canvassing.
- Canvassing Buildings through the Precinct – Look into your area and find the better buildings in each street. Those buildings should be your targets for tenant contact in a regular and ongoing way. Make sure that the tenants in each of those buildings are contacted regularly and personally. You are the best person to do that. Leave your business card and your tenant newsletter for them to review and keep for later reference.
- Canvassing Building Types – You will be a specialist in certain types of buildings. On that basis you will understand the rents, outgoings, vacancies, leasing standards, and the incentives. A focus on buildings by type allows you to cover all relevant issues and opportunities more easily.
- Connecting with Particular Businesses by Type – If you know about the local leasing requirements and results of certain types of businesses (i.e. Doctors, Medical, Chemist) then use that information. You will have the ability to talk and prospect at a deeper level with those industries and tenant types. Get a list of those businesses from the local telephone books, and make direct calls.
- Provide Tenant Advocacy Services – Some tenants like a special level of help when looking for and leasing another property. The bigger businesses and those that are special by type will generally be comfortable to appoint a leasing agent to represent them in a property lease relocation.
So you can use these strategies to attract more tenants to your leasing services. All of these strategies are simple, and yet they do require deliberate prospecting focus. To attract the leasing inquiry and tenant business today, and particularly to pull in the best tenants, they have to know, trust, and remember you. Put more tenants and businesses into your prospecting and marketing model.