The leasing of commercial real estate today can be a challenge unless you as the commercial real estate agent have a real plan of action and focus. There are plenty of other properties on the market for lease, and many landlords that are looking to solve their vacancy problem. Rents, incentives, and lease terms are all very flexible.To get your fair share of listings and leases, it pays to have a definite process of listing and marketing for your vacant properties. You need a point of difference when it comes to promoting your listings to the business community.Successful leasing agents will usually have a significant database of local businesses and tenants to call on. It is this database that produces the enquiry and the opportunity that you need.If you are new to the industry, it is wise to start building your database as soon as possible. This process will require you prospecting and cold calling businesses and tenants on a daily basis.Focus Your EffortsIt should be said that there are no short cuts when it comes to building your database. It is a personal process and requires continuous focus.Here are some strategies that can help you build your market share and success as an agent in commercial real estate leasing.It is the landlords that own the local property that will require your specialist services. They must know that you are the agent of choice when it comes to the property type and the location. For this reason, landlords and property owners must feature in your prospecting model. When you control the property owners and the landlords from a prospecting perspective, you will soon build your market share as a very good leasing agent.
Split your area into priority locations, and high priority streets. It is within these zones that you will find the quality listing stock. On a street by street basis, work through the property owners and the businesses in occupancy. Get to know the lease expires, current vacancy factors, and the future supply of lettable space. This information requires you talking to the right people each and every day. Capture the information into your database.
A successful leasing agent will know how to comprehensively market the listings and vacant premises. Given that there are plenty of other listings available and currently vacant, the marketing of your properties needs to be special and specific. That is why you will need exclusive listings to do the required marketing and dedicated tenant contact. Treat every listing as special and take it to the tenants in your database personally.
Track all of the other listings in the local area together with their time on market, rentals, and improvements. Ensure that your listings are of top value and highly marketable from a competitive viewpoint. This then says that your landlord clients should be suitably conditioned for the prevailing market conditions. Every listing should be optimised for the current market conditions.When there are plenty of listings available for tenants to choose from, you must ensure that your clients and listings are of the highest quality and condition for the current tenant enquiry. Understand what the market is doing, and shape the listing accordingly. The client that you act for is looking for results, and on that basis you need to act.