In commercial real estate brokerage today, it pays for you to keep your landlords up to date when it comes to market trends and tenant enquiry. The levels of market rental and vacancy trends will change throughout the year. Market awareness helps landlords make better leasing decisions. It will also help you convert more lease transactions.
Over time the landlords that you serve will require specialist support in property performance and leasing. A regular market briefing process will help you to maintain their confidence and their business.
The landlords that you serve in property management and also with project leasing will appreciate regular market updates when it comes to the following information:
- Existing enquiry rates and from what segments of the tenant market they are coming from
- Market rentals as they apply to the different property types
- Tenant mix strategies with particular focus on retail and office type properties
- Tenant retention plans that give stability to income and lower the vacancy factors
- Outgoing costs and strategies that apply to the property types
- Rental structures and strategies to improve the net income for the landlord
- Lease alternatives that are being used successfully in the market today
- Incentive levels driven by existing vacancies locally
- Details of new property developments that may shift the balance of supply and demand in the marketplace
So there are plenty of things that you can report on here as part of an ongoing landlord networking and contacting process.
There are a number of ways to provide this information to the clients that you serve. The best way to do this will be through a regular ongoing meeting process.
Regular meetings with your clients and prospects will give you the opportunity to build trust, identify any new business or property requirements, and ask for referral business.
Remember that you are the property specialist and should be marketing yourself accordingly. For that reason this strategy of information and knowledge sharing will help you win more market share with the right clients at the right time.