How Do You Get More Commercial Real Estate Property Management Listings?

Many agencies look for commercial property management listings. A property management client or appointment will provide significant opportunities in leasing and sales for the agency at some point in the future. 

In the meantime, a commercial property management appointment will provide reasonable fees to the agency, provided you offer the right professional services.

A sizeable portfolio of quality commercial and retail properties will strengthen the real estate agency’s goodwill and business value. An agency with a reasonable rent roll is worth a lot more than one without. The rent roll is also a saleable commodity anytime, helping the real estate business be viable.

Quality Property Managers

Property managers should be chosen and well-skilled for their property type. Managing an asset is quite a skilful process. It requires knowledge of leasing strategies, tenant retention, building operational costs, maintenance activities, tenant retention, financial management, and landlord contact.

I will just make a small note here regarding commercial real estate agencies purchasing rent rolls. You really want the quality and stability of the rent roll. You need to know that the properties under management have been correctly controlled and are primed for ongoing performance.

Quality Rent Roll

A weak or unstable commercial real estate rent roll is usually more trouble than it’s worth.  You would not pay good money for a rent roll of this type.  For a problematic and unstable rent roll you will usually have the landlords and tenants that are volatile and threatening. You can easily loose that business. In that case, you will not want to pay to much for such a rent roll; it is far better to singularly target these weaker properties and convert them to your business when situations allow.

Growing Property Management Business

Here are some other rules that should apply to the growth of your commercial real estate management portfolio:

• Select quality properties in good locations.  They will be easier to lease when the time arises.
• Select property and portfolio owners who can own or do own several properties. Over time, they will need further assistance from professionals like yourself.
• Leasing and sales opportunities always give you some spin-off towards property management. Asking the right questions at the right time will allow you to seize this new property management business opportunity.
• Quality and professionalism should be the underpinning factors of your commercial and retail property management department. This means that you should not discount fees and, as a consequence, provide low-quality services. Over time, poor property management activities and low-quality management staff will do more to destroy your portfolio and agency than strengthen it.
• Develop a strategy for tenant retention and tenant mix analysis. These specialist skills can be offered for a certain fee to owners who currently manage their own properties. Providing you do a good job with these specialized services, you can convert the business to a full and comprehensive property management appointment over time.

Every sales and leasing person in your commercial agency should be comfortable discussing and offering property management services to clients and prospects. If you have the right staff within your business, the diversity of services will strengthen your operations over time.