Commercial Property Leasing – A Marketing Model for Agents
When it comes to leasing commercial property or retail property it is really important that you put together some systems of control and marketing as the local leasing specialist. Success in property leasing comes from knowing the local tenants and having good quality listings on your books.
There are always opportunities around the local area to lease premises. If you have poor or low grade listings on your books you will find that vacant stock will drag down your momentum to get better lease deals together. It should also be noted that low quality properties are harder to negotiate and in some cases a lot more work to complete the negotiations between landlord and tenant.
So the message here is for you to focus on the better properties. Contact the owners of good properties and see if you can help them with pressures of vacancies, tenant mix, and tenant retention.
Here are some marketing ideas to help you spread your brand as a leasing agent.
- Press releases and editorials – newspapers today are always looking for a good article on a quality and interesting property. If you are leasing something with a history or point of difference, spread the message with a good editorial.
- Blog on market detail and conditions – blogging is a great way to spread your name and experience on the internet. The cost is minimal and only time will be the requirement to get started.
- Social media use to back up prospect contact – everyone is into social media. From the perspective of commercial real estate, it is a tool to maintain contact with your clients and prospects. Don’t expect to get much business from it directly.
- Fact sheets relating to the local business demographics are always useful.
- Leasing signs for windows and leasing signs for property exterior should be of a high quality and feature your name and contact details. Your name on quality listings will help your market share.
- Cold call canvassing model and door knocking tenants locally – this is part of doing business today. Get out into the market and create the meetings. Include with that some local business canvassing.
- Newsletter by email and auto responder – this should integrate into your database of qualified contacts.
- Get maps of the area with transport and highway details – this information is quite handy when talking with some tenants and business types.
- Changes to local property zoning should be monitored – things change in the local area so be prepared for zoning and property use changes.
- Direct mail – this should be ongoing to all local businesses. That being said you should follow up all direct letters sent out.
- Broker cooperation – in the leasing of commercial and retail property it is useful to cooperate with other agents. That will mean some form of conjunction with suitable tenants and landlords.
You can get some good commissions from leasing commercial and retail property if you specialise on quality listings.
