The commercial real estate leasing market is always full of opportunities that can be a source of income and commission for brokers and agents. Through leasing a commercial or retail property you get to know the landlords of the market and in turn position yourself for helping those clients with future sales and purchase needs. One deal can lead to another; it is just a matter of seeing and working with the opportunity.
In most property markets and in any town or city there are plenty of lease vacancies to work with. If you get to know the tenants in the business community at a reasonable level, you can mix and match tenants to the upcoming vacant premises.
So how can you become the leasing expert that the landlords of the market require? How can you attract those landlords to use your services? The answer is quite simple. If you know a large number of tenants in the local area, it is hard for the landlords to ignore your services. The landlords need an agent that has a good coverage of the leasing market. You can do that.
To show the landlords exactly how valuable you are to their leasing needs, here are some ‘factors of attraction’ that you can use in your presentation or sales pitch on the listing:
- Build a database of businesses for your town or city. There are literally hundreds of businesses in most urban areas. Talk to many tenants and you will soon get an idea of what tenants will soon be moving and why that is so.
- A lease can be constructed in a number of ways. It is not just a matter of finding a tenant and hoping that a deal can be done. Construct a lease based on the future opportunity it can provide to the client (landlord). What can be done within the lease to build income and value for the property? What tenants can you select to build a business profile for the property? To answer these questions focus on the rent reviews, options, lease terms, and market rents and outgoings recoveries to improve the landlord’s position.
- As a professional leasing expert you can provide tenant retention plans and tenant mix strategies as part of your professional services.
- Provide regular updates to your clients about rents, vacancy factors, supply and demand for lettable space.
Don’t just be a leasing agent providing a leasing service; be a top leasing agent that really knows how to help landlords improve property profile and market returns for your investment clients and landlords.