The agent who deals with leasing and selling investment properties today has a substantial edge over those who just transact sales.
How come? The landlords and investors in a location are being spoken to by the leasing brokers. They are aware of the importance of supporting landlords’ investment performance.
Renting space accomplishes that. Choosing a good renter with advantageous lease conditions also accomplishes that.
Momentum for Leasing
When agents correctly focus on leasing, leasing conversations and continued contact will naturally lead to sales listings.
At the very least, they will develop connections with high-value commercial real estate professionals who specialise in leasing, purchasing, selling, and project work.
Stepping Stones in Leasing
Consider “lease” as a stepping stone to advancing in brokerage if you are having trouble with real estate listings or want to get to know more real estate people.
You may engage in several activities to assist investors and landlords with property performance, fill vacancies, and choose better tenants for a tenant mix in this dynamic real estate market.
Is Leasing Appealing?
If this appeals to you, it’s time to organise your real estate day so that you may concentrate on leasing. It’s time to make all the necessary preparations so that you can assist tenants and landlords with their leasing and occupancy demands.
So, what exactly is the focus? As was already indicated, lease activity today will eventually lead to the sales business you are looking for.
A Collection of Strategies
Here are some strategies to help you establish that system to support your leasing agent’s momentum.
Target Local Business Owners
The local business owners of the market are the people you need to know, particularly when it comes to changes in occupancy, business activity, and any need for expansion or contraction.
In any location, it is easy to contact businesses and business owners on a street-by-street-by-street, building-by-building, or business-type basis.
When you set some rules for your prospecting and canvassing activities, finding the people to talk to and create new conversations is easy. Those conversations will lead to listings or transaction opportunities in the future.
Identify Key Property Locations
Some properties are better than others. When you examine the properties in your precinct, you will know where to focus most of your leasing research and contact processes.
Look for quality properties in the location. Look at the main roads, the better-quality buildings, and the buildings with the improvements people are looking for. When you focus on quality, the listings will attract more inquiries.
Research the Landlords Locally
Building a relationship with certain property owners, and landlords can take months, if not years.
From the outset and the early days, as your career in leasing commences, determine who these priority landlords and property owners are in your location. Then start to focus on opening the relationships to conversations and meetings. It doesn’t matter if a landlord works with another brokerage or agent.
Decide what you can do when it comes to providing specialist property information. Information leads to trust, and trust will lead to opportunities.
Do anything and everything you can to encourage a trusting relationship with the critical landlords of your location.
Track Vacancy Trends and Needs
When you know the buildings, the streets, and the VIP landlords, you will find some vacancy opportunities or upcoming vacancies where you can provide solutions.
Track the vacancy trends regarding time on the market, market rentals, and recent leasing inquiries.
The tracking process will give you leverage when working with particular landlords and buildings. Your awareness of the property market is of value to the landlords locally.
Keep Up the Contact Processes
The cycle of business activity in commercial real estate, particularly leasing, can be relatively long. That says your services in leasing may not be required for some months, if not years. That’s why your contact and prospecting model should focus on long-term relationships.
Repeat the contact process with the key leasing people in your location. Provide information and do that in a relevant and regular way. That will help them understand the value you can provide to them regarding local property activity and solving vacancy stress problems as they arrive.
Simple Leasing Skills Summary
As simple as these elements seem, they are the foundational factors to achieve progress and momentum in leasing commercial property today.
Focus intensely on these strategies and strive to achieve high communication with the property market’s property players in your town or city.