Some of your commercial real estate clients will have vacancies in their investment properties to work through and resolve. Those vacancies are a real opportunity for you the local leasing broker. If you have a large database of tenants in the local area then you will have plenty of attraction and leverage to offer to local landlords. Sell your professional leasing services from the strength of your database.
Ultimately the clients that you serve just want to get a tenant. You can offer the best solution as part of that process. Talk about the best tenant types that you see for the vacant premises and then offer the client a specific way to attract those tenants. Here are some factors that you can drill down on as part of your client offering:
- Presentation of the premises
- Property improvements to strengthen promotion
- Time of marketing to lift enquiry rates
- Best promotional channels
- Leasing alternatives
- Rental structures
- Incentives to offer tenants
- Special advertising methods
- Tenant mix strategies for the overall property
- Rental improvement strategies
So the message here is that any vacant property or premises is a major opportunity for working with an investor for the longer term. Don’t just let the single leasing requirement be the start and the end of the matter. Look at how you can extend your services for the client.
Develop a leasing team in your office that can handle the leasing requirements in specific locations and across property types. Ensure that the team can speak and present comprehensively into the rental and leasing market locally; that will mean across specific rents, marketing situations, leasing documentation, inspection processes, and negotiation approaches.
When you open the client up to the many extra leasing services that you can offer for the longer term, benefits arise for both you and your brokerage. Try some of these for starters:
- Taking a property through a growth phase for a new renovation or project opportunity.
- Upgrading leasing services to a full property management appointment.
- Expanding the client’s investment requirements to other local properties and opportunities.
- You can be seen as the leasing specialist that is helping results happen over the lease duration and across the tenant mix.
- A good leasing outcome today can be a sales requirement in the future with the same client.
All of these things can lead to fee growth and diversity for the brokerage. Comprehensive fees are driven from diverse leasing services. Are you ready to lift your service offerings?