In today's property market, the leasing services provided by commercial agents will be critical to the performance of the investment property. Leasing is closely geared to commercial and retail property management activity. Leasing is also closely geared to sales activity.
This then says that the commercial real estate agent should really understand the complexities of leasing in the local property precinct. The agent should know how to connect with potential tenants to help with the ongoing property performance or the potential future sale.
Just because you prefer to sell property, does not mean that you should overlook leasing as a skill and knowledge base offered to your clients.
It is the case that some leases and some vacancies will require rectification before the property is taken to the market for sale. As part of that process, the agent should be able to make recommendations regards the leasing alternatives and lease structures that will make a more attractive sale or a faster sale for the property owner. There are very good fees in leasing property providing you approach the matter professionally.
When it comes to negotiating your services for leasing with the property owner, pitch and sell the services from the angle of knowledge and resolving the property owners problem as quickly as possible.
Far too many agents offer discounts in fees to influence the landlords listing decision. The reality is that a listing can be won from the agent being relative, professional, and comprehensive in the listing process. Remember that leasing is not an experiment, it is a challenge where the property owner requires cash flow and income assistance. How can you make that income work for the property owner?
To lease property today here are some of the key factors to consider and implement:
The property should be comprehensively inspected prior to the marketing campaign commencing. This inspection will allow you to understand any difficulties in presentation or inspection, and also help you establish the right target market that applies to the property.
The defined target market will be looking for particular property improvements and levels of presentation. In essence the property has to look good and present to tenants well. Those landlords that like to delay the presentational and fitout processes until they know what tenant they have on the lease, will usually detract from the inspection opportunity. When the tenant inspects the building, they should see opportunity and not problems. They should see a tenancy that looks good in every respect. Given that tenant enquiry today is more selective, it pays to have the property looking at its best from the commencement of marketing. Remove the inspection obstacles from the outset.
When it comes to your local property precinct, understand the factors of supply and demand that apply to your property type. What you're looking for here are details of renovations and refurbishments in other properties, new property developments, vacancy factors in existing properties, and levels of property enquiry from local business leaders.
It is interesting to note that many enquiries for vacant tenancies come from the local business community. Invariably business leaders do not like to move long distances in any company relocation need. Because of this, you should be comprehensively marketing your vacant tenancies into the local precinct and all the local businesses.
When it comes to leasing property today, you can comprehensively capture the right enquiry providing you are well prepared from the outset. Landlords need professional real estate agents today to assist with the levels of enquiry and the closing of the necessary lease transactions. The best agents will always do well at leasing in any market no matter what the economy is doing.
