The commercial real estate leasing market is busy most of the time, but this property market is a bit special. For the foreseeable future in this economy, it should be increasingly busier as occupants and investors look at restructuring, savings, and improvement.
Property occupancy is a changing cycle and, as leasing agents, we are the best people to help. Market yourself on that basis.
All your spare time and a percentage of your day can be directed into the things that matter. In that way, you can drive more new business and do so faster than others in the same industry segment or location.
Things to Do in Leasing
Drive an ongoing ‘critical mass’ of communication with the people that matter in property in your location. Here are some ways to help you do that:
- Landlord contact – Vacant premises in all local properties can and should be targets when it comes to leasing conversations. Contact the landlords of properties with vacancies to see if they want help in finding a tenant. If you are continually connecting with business owners and have a database to support that, then it is logical for landlords to use your services. Pitch your leasing services around your ongoing contact with tenants and business owners. Landlords like to deal with the agents that have their ‘fingers on the pulse’ of vacancy and tenant movement.
- Business research and review – When you look at your allocated territory or location, your town or city, you will find plenty of business owners to talk to. Start that process and use the business telephone book as a database ‘starter’ for the activity. Ask simple questions about lease expiry and property occupancy needs. Do not complicate things; just create conversations.
- Tenant movements and lease expiry dates – From the previous point, lease expiry dates are valuable references to track. Get to know all the businesses and tenants in your location and ensure that you have the lease expiry dates for all those businesses. Keep up the contact.
- Vacancy tracking – There are vacancies in abundance in most towns or cities. This comes as business owners adjust to the new economy. Changes in leasing will be active across expansions, contractions, and relocations. How do you find all of that ‘change and churn’? You can talk to the local people and lots of them. Do not just focus your canvassing calls into known property investors and owners. Engage with the business owners across all precincts and buildings; they will tell you a lot about property change and needs. There will be business owners looking to do things and move; perhaps to save some money, or to seek better premises.
So, all these things are leasing related. Get closer to the people in the property market and create lots of conversations each day. That is how you find the business. Use your spare time well; the new business will present itself.