10 Ways to Lease More Commercial Property Than Your Competition
In commercial real estate, the leasing process is the foundation of the cash flow for investors.
On that basis if you as a real estate agent lease more property successfully then you can achieve more sales over the longer term.
The landlords will come to you at sale time because you helped them at lease time.
On this basis, the best sales people in commercial real estate are also very good leasing people.
They know how to negotiate and structure a lease that can help the property owners sell the property at a future time.
If you want more commissions overall in your career in commercial real estate then the focus should be for you to lease and sell.
Become an expert in both.
Many leases when they are negotiated carefully and correctly will set the property up for future sale.
That will be through well negotiated factors such as:
To lease more property than other agents, the following 10 point strategy and plan will help you.
If done correctly your leasing services will underpin just about all other parts of your sales and property management services.
On that basis if you as a real estate agent lease more property successfully then you can achieve more sales over the longer term.
The landlords will come to you at sale time because you helped them at lease time.
On this basis, the best sales people in commercial real estate are also very good leasing people.
They know how to negotiate and structure a lease that can help the property owners sell the property at a future time.
If you want more commissions overall in your career in commercial real estate then the focus should be for you to lease and sell.
Become an expert in both.
Many leases when they are negotiated carefully and correctly will set the property up for future sale.
That will be through well negotiated factors such as:
- Rental types
- Rental growth and rent reviews
- Option terms
- Minimisation of vacancy threat
- Optimised tenancy mix
- Leases that relate to the landlords plans and property
- Leases that underpin and strengthen the landlords position and investment
- Leases that protect the property improvements and performance
To lease more property than other agents, the following 10 point strategy and plan will help you.
- Know who all the major business leaders are in the area.
Talk to them on a regular 60 to 90 day basis about their property needs.
You must establish personal rapport with these people if you are to be successful in leasing commercial property. - Understand supply and demand of new lettable space to come onto and that exists in the local market.
- Watch the local precinct plans for zoning changes and development regulations that can impact the area.
- Understand access and transport corridors for the local businesses.
Look for any threats and changes. - Understand the supply of raw materials for the local businesses.
Look for any threats and changes. - Get involved with finding new development land or redevelopment opportunity for local property developers.
These new sites can be a source of major project leasing over a lengthy period of time. - Understand the rental types and rates that the recent lease deals are showing.
Rent can be gross or net, and the choice will impact the recovery of outgoings for the landlords you serve. - Monitor the lease incentives in both type and amount so that clear market alternatives are available to landlords when the next lease deal arises.
- Create a database of leads and information from all the people that you talk to.
If done well this will be the main source of future business for you. - Monitor all the local businesses and their leases for expiry and option dates.
This will be high value data to market new vacancies into.
If done correctly your leasing services will underpin just about all other parts of your sales and property management services.
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