Commercial Investment Property – How to Generate Leasing Leads for Vacant Tenancies
In commercial real estate, the number of leads that you generate for leasing will make or break your success in creating commissions. Commercial real estate investment and property performance are factors that are built around the business community. Landlords and property managers on that basis should create a significant database of decision makers from the local business community.
The more that you know about the local business community and their intentions, the greater the opportunity for you in generating leasing deals.
Investment Leads
You can be the best listing agent in town, but unless you know just how to find and convert the tenants, then life as an agent will be very frustrating.
So How Do You Get Started?
To generate significant amounts of ongoing leasing enquiry for commercial property, it is wise to set up a system of direct marketing in your local area. The essential elements of that prospecting system include the following:
Put lease signage on as many vacant properties as possible
Target market all the local businesses with direct mail and brochures
Identify and connect with all the property owners of investment property on a street by street basis
Create a monthly market report detailing rental trends and the supply and demand of local property
Establish a database for all the contacts that you create with in the local business community
Track the lease expiry dates and the renewal dates for all businesses on property leases
Understand that your market is established in two different directions (i.e. landlords and tenants)
This is not a thing that can be delegated to the office or the administration people in the office. Marketing is a personal thing and each and every salesperson must do a large degree of it themselves. A full 40% of the working day should be devoted to direct marketing.
Today we are blessed with marketing tools and technology that is superior to anything we have ever had before. Email newsletters, electronic brochures, mass mail outs, sms messaging, mobile phones, and social media are just a few of the clever things that you can do and use. There is still however one ‘golden rule’ when it comes to direct marketing in commercial leasing; you have to get in front of the right person in each and every case. That means prospecting calls to generate meetings.
Local business leaders will tell you so much; they also need to trust you. The value of the face to face meeting is very high in commercial property leasing.
Commercial Investment Property – How to Generate Leasing Leads for Vacant Tenancies
If you want more tips and ideas to help your commercial property leasing you can get a free ebook right here at http://www.commercial-realestate-training.com
John Highman is an expert real estate author, conference speaker, and coach. He helps Real Estate Agents to improve their market share, negotiation skills, listings, and commissions.
