Commercial Property Agents – Every Tenant Is a Leasing Opportunity to Be Tapped

Martin T. Israel

If you work as a Commercial Property Agent, you will know the value of the leasing process to investment property owners. If anything today, you can market yourself around your abilities to lease professionally and from that you will find that sales opportunities can evolve.

After working as an agent in many locations on some very large and complex properties, I have found that any tenant is an opportunity waiting to be tapped. This says that you should focus on all local businesses and tenants so you can build your database. The database will be the road to success in listings and commissions.

Constant contact is the key to the process of leasing property today. Take time to make the connection with all local tenants and then keep in touch with the right property owners. Soon you will be making a match and closing on lease transactions that work for both parties.

Today many of us will say that the property market is slower and tougher than normal, but that being said, I will add a comment that there are always deals to be done if you look for them. It is in markets like this that we have to work harder; that’s the rule.

Here are my leasing tips for this property market:

  1. Get to know all the tenants in your local area. Build your connections with each tenant so they know you as the expert that can help them when they need to lease or change location.
  2. Some property owners may operate a business from their current location, and be open to doing a sale and lease back of the property.
  3. Speak to all landlords of major properties to see if they have a tenant vacancy issue that they want resolved.
  4. Any property management appointments should be tracked for upcoming vacancies. Start a tenant retention process for each of the clients that you act for.
  5. Be open to working for tenants as a tenant advocate. The larger businesses and tenants are normally receptive to that process. Make sure you have your appointment to act signed and in place before you proceed. Remember that the tenant in that respect is your client.
  6. Track the supply and demand for vacant space in your local business area. New property developments will impact the process. The local property approvals office will have records that can be sourced in that regard.
  7. In any property market it is wise to know what the market rents are doing and what incentives are for making a tenant move to signing a lease. Most of the time you will be up against other property of a comparable nature. Check out the other space and property locations before you set your rents and market any vacancy.

Good leasing agents will drive themselves forward each day by doing the right things to find and convert more business. You know your property market better than I do, but I will say that hard work is the key to business opportunity in most situations.

Most clients and landlords that you meet would like to deal with the best local agent that dominates the market and corners the enquiry. Does that sound like you?

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