It is a well-known fact that the leasing market with its opportunities, provides plenty of leads and opportunities to connect with the right people in commercial real estate today. A successful lease transaction can be a potential sale or property management appointment over time. The landlords and the businesses that you work for in leasing or renting, should be at the centre of your ongoing contact processes. (NB – you can get more leasing and rental tips for commercial real estate right here)
You can use this business fact to tap into the more of the right people and the players of the commercial property market. You can grow your business from a base of leasing activity. As part of that strategy you can get to know the local property investors, business owners, tenants, and developers. Each day you can put more people into your database through some simple and direct prospecting activities. Talk to the people that need leasing and renting solutions.
Break Away from Competitors
So there are some good things to do here. You can break away from the leasing competition through deliberate and direct ongoing contact with the right people.
A successful lease transaction will be the foundation for investment and property performance over time.
Learn the different leasing solutions and strategies to take a vacant property through to a rental solution. There are rent types, rent reviews, options, renewals, and relocations to consider in a tenant mix.
Leasing Strategies for Today
Here are some ideas to help you consolidate your property leasing and rental activities in commercial and retail property. Assess your own market share based on these ideas:
- High Quality Buildings – review all the buildings in your local area and particularly the priority precincts where businesses and tenants like to locate. Identify the good quality buildings and the larger tenancies. They will or should be your targets for ongoing contact. Look at the tenancy mix and every building and examine the occupancy issues and businesses. Make direct calls into the building and the tenancy list.
- Precinct Coverage – look at the precincts within your leasing territory. Break the precincts down into building types and streets. From that analysis, you can compare buildings, rentals, and tenancies.
- Business Type – some businesses will be more successful than others given the economic pressures and changes in your town or city. Choose the business types that are showing levels of change and volatility. They can be at the centre of your prospecting model.
- Success Letters and Emails – every successful rental transaction or negotiated lease will be an opportunity for sending out success letters and success emails. Create case studies from the transactions recently completed in the location. Circulate the information about the transaction locally and put yourself at the centre of the activity. Make it easy for people to ask questions and come back to you for information. One successful lease transaction will be of interest to major business owners and investors in your region.
- Online Marketing – with all the technology tools available today, it is very easy to build a strong online presence as a leasing specialist for a location. Understand the keywords that people would use in the industry portals and the search engines. Use those keywords to build an online presence via blog activity, editorials, listings, and local area marketing.
- Lease Market Updates and Statistics – take the leasing history for the location, and create several graphs relating to occupancy, market rental, inquiry rates, and business movement. The visual approach to industry activity will be valuable in your listing presentations and client contact processes.
Using these strategies and systems, you can break away from the competition in commercial real estate leasing. Specialize in servicing the properties, the locations, and the landlords. Demand exclusivity as part of your formal leasing appointment.
Work on leasing and renting the better buildings and the larger vacancies; in that way, you can ensure a reasonable leasing fee for a completed transaction.