When you work as a leasing agent in commercial real estate, the business community in your location is the source of considerable new business. It is just a matter of connecting with the business owners.
Today’s podcast shares the strategy for comprehensively making the leasing and connection process work.
You will find some helpful suggestions in the podcast that will make it easier to enter the local commercial and retail property market from the leasing perspective.
PODCAST: Building a Leasing Client Base
Creating Agent Momentum
Where do you start? It is crucial to have a solid understanding of your client base regarding their property types and preferred locations.
Establish a connection and talk to those individuals; they are the landlords and the tenants of the market and your territory.
Establish your relevance as a leasing agent by becoming familiar with the area’s various property kinds and vacancy needs. The supply and demand factors of the location are worth watching.
Know the Vacancies and Properties
Your ability to specialise in a specific type of property will, over time, make it easier for you to attract the landlord and tenant clients you want, whether as investors or business owners.
Create an action plan for property leasing based on a local strategy that prioritises the customer’s needs. Your customers are clients, and they can be either landlords or tenants. That property need focus or requirement will be in these categories:
- Property location
- Property type
- Size of buildings
- Size of land
- Rental budget
- Available or required lease terms
Various tasks always need to be completed when working as a leasing agent. Some landlords and tenants can be spoken to, and you can build a contact system around that. Connect with tenants and landlords at least once every 90 days (if not sooner).
Grow Local Property Leasing Knowledge
The property market changes, and you can be part of that change as a leasing agent. Knowledge is the key to seizing opportunities in leasing premises.
What is the knowledge equation that you can focus on? Build your awareness of rents, incentives, supply of space, new projects, and lease terms and conditions.
Every lease transaction is different and unique, given the premises, the landlord, and the tenant. Balancing those stakeholders into a valuable lease transaction that has benefited the landlord long-term is a specialist process.
Matching People and Properties
It is not just about ‘leasing vacancies’. It is about matching people to property situations and opportunities. That is what professional leasing agents do.
A leasing agent must be “tuned” to the local precinct as well as the businesses that are located inside that zone. Learn the number of companies and buildings you have in the zone, and then you need to target. Learn as much as you can about those companies. That is in business type and premises requirements.