When you take on an investment client in commercial real estate brokerage it is likely that they will have problems and issues to address in their property portfolio. You can help them with an array of strategies to lift property performance. Ultimately that means fee and commission potential for you.
Don’t just focus on being the sales or leasing specialist in commercial real estate for your location; you can go a lot further into offering specific services and factors of property improvement. Look at the challenges that some clients have with their properties. Understand how you can be the best person to resolve those things. Design your services accordingly.
Here are some ideas to help you with this:
- Property precinct studies – Track all the activity and property availability in your territory or location. Watch what is happening and how things are changing with supply and demand. The changes in the precinct will give valuable indications of what could occur with prices, rents, and occupancy. Ultimately commercial properties are in the main occupied by business tenants so also watch the levels of local business activity and where those businesses like to locate themselves.
- Searching for good quality tenants – The challenges with vacancies will always frustrate local landlords. If you keep in close contact with regional tenants, and particularly the high profile tenants, you will soon understand what their occupancy needs may be with location based business be it expansion or contraction. Within your database ensure that you have all your tenants segmented so that you can look for those special businesses to locate into upcoming vacancies. If you have a comprehensive tenant database for the location, it will be hard for landlords to ignore your professional services and offerings.
- Rental growth numbers – Within your zone and location, there will be shifts in lease rental by both type and amount. Certain areas will be more attractive from a leasing and tenant perspective, and you can identify the trends and the opportunities. Chart the rental trends so you can show your landlord clients exactly how they can be part of the income growth patterns for the area.
When you work with landlords as investors you should be able to help them through key questions like:
- Who are the best tenants for the location?
- How can the net rental for the property be improved?
- What are tenants looking for and how can those factors feed into the future of the property?
There are many things that you can do here to help property investors improve their property performance with both rental returns and capital value.
You can get our free eCourse on Commercial Real Estate Brokerage right here.