Commercial Agents – 3 Tips for Leasing Commercial Property

When working as a commercial real estate agent, you will come across the opportunity to do leasing in addition to the normal sales activity in the local property market. Commercial office, industrial property, and retail property, all offer leasing opportunities for your agency listing diversity and future commissions.

Knowledge of market rentals, incentives, lease documentation, and tenant needs will help you with the process of putting a lease together on a vacant property.

The Main Factors in Leasing

When considering the listing of a commercial property for leasing, there are three main considerations or tips that can be incorporated into the listing and leasing process. They are as follows:

  1. Make sure you understand your target market of tenants and what they looking for. In each and every location there will be tenancies looking towards change and relocation. From time to time tenants are also looking to upgrade their premises or adjust their occupancy costs and commitments. This is a fresh and new opportunity for the leasing of new premises. Property agents should spend time in connecting with all the local businesses to identify their property needs, the expiration of their leases, and any tenant requirements for expansion or change of occupied area. You should expect that other specialized leasing agents in the local area will also be speaking to tenants in your managed properties on a similar basis. It is therefore critical to implement a tenant retention plan to retain your tenants and minimise vacancy situations.
  2. Comprehensively market the vacant property into the local business community. When it comes to the leasing of commercial office space, history has proven that most tenants come from the existing local business community. Those businesses are simply seeking to improve their standards of tenancy occupation, or adjust their business commitment to rental and other occupancy costs. They know the local area but they need to change property. On this basis, the marketing of vacant space should occur through both the traditional and non-traditional marketing processes into the local businesses. Firstly, the property should be listed on the Internet plus suitable signage placed at the front of the property or the tenancy. Secondly, the complete details of the property should be itemised in an information brochure to be circulated through the neighbouring properties and local businesses. The process here can be greatly aided by a follow-up telephone call. Even though an existing business may not be seeking to relocate currently, they will usually advise you of their existing lease termination date. Capturing this information into your database will greatly assist future marketing processes.
  3. Identify the competition properties that have an impact on your marketing promotions. These properties may have been on the market for some time; they may even be considering a rental adjustment to lower levels to attract more enquiry. These properties will have a direct impact on the levels of rental and the marketing strategies that you adopt for your subject property. In this case the landlord should be suitably briefed so they understand the impact that these properties could have on your vacant area. Logic says that a competitive rental should be offered in your property to offset the pressures of other competition properties.

These three simple tips have significant impact on the success or failure of the leasing campaign relative to the vacancy. Set your leasing targets so you can proceed through the campaign with clarity and focus. Adjust your rental should enquiry not be generated within the first few weeks of the campaign.

Combining Technology and Style – 8 Top Fashion Apps For Your iPhone

Here are some great fashion apps for your iPhone.

1. Trendstop TrendTracker. This app allows you to follow trend reports, uncover news feeds from the fashion industry and view photo galleries from fashion events all over the world. Free.

2. The Fashion Handbook. This one is all about current trends, styles, tips/tricks and more. Good app for fashionistas looking for the next big thing or the average woman looking for style tips. Cost: $9.99.

3. Seventeen Fashion Finder. This app gives you access to the pages of Seventeen Magazine. Perfect for the teen seeking the most current fashion jewelry and clothing, this app is a must-have! Free.

4. Bra-Fitter. This is useful when it comes to sizing yourself correctly. A majority of women are actually wearing the wrong size bra for various reasons – from feeling uncomfortable having a store worker size them to just not having the time. Cost: $1.99.

5. Closest Friend. A unique application, the Closest Friend allows you to archive pictures of what you wore for certain special events. If you have ever found yourself asking, “What fashion jewelry was I wearing at the wedding?” or “Which of my belts did I have on for that corporate meeting last month?” Cost: $0.99.

6. Tattoo Patterns. If you are looking for stylish body art but fail to think up the perfect pattern, this app can supply you with 128 different designer-quality ideas. Now your tattoos and wallets can match! Cost: $1.99.

7. Teen Vogue Haute Spot. This app gives you the ability to sneak a peek into the closet of an editor of Teen Vogue! The cost of this all-access pass is free for now, but may soon come with a charge.

8. Social Mall. This app is the perfect shopping companion. Browse interesting articles on clothing, fashion jewelry, and more. Free.

Commercial Agents – Key Sales Pitch Tips and Objectives

Before you as a commercial property agent do a sales pitch to a client to potentially list their commercial property, it pays to understand and set the strategy you will adopt. You need to define your targets of the process. Clarity is important.

Given that each property is different, the strategy and your sales pitch should also be distinctly different and unique given the elements of the property and the circumstances of the market. You are the expert agent and you need to show exactly what is going on out there today.

Here are some ideas and processes to feed into the presentation:

  1. Firstly get to the real facts of the client and their needs today. They will have special concerns about taking their property to the market today. They will also have certain criteria that must be satisfied for the marketing and negotiation to be successful. Ask the right questions until you really know what they want to do and why.
  2. Given the previous point above, develop a clear understanding of just what the target market is for the property today. As the local agent you should have a database that gives you a typical profile of the enquiry coming in to your office at the moment and how it can be converted to the property.
  3. The defining of the target market will give you specific ideas as to how you can reach the target audience through direct marketing and consistent effort.
  4. Take plenty of photographs around the property before you see the client. You can then put the images on a rolling slide show on your laptop computer to supplement your discussions with the client. Given that the photographs are only of their property, it tends to attract their attention far better than any other laptop use or presentation material.
  5. Have some market evidence and comparable property detail to show the client and to support your discussions. Real numbers and facts from the local area are hard for them to refute.
  6. Carry a variety of marketing examples of similar local properties today. Show the client just how you would use the material to the best of its advantage in attracting more enquiry and better inspections to their property.
  7. Tell the client exactly what the market is looking for today and how you will use that to your advantage in marketing their property.

Far too many agents approach the pitch process generically without much planning. Given that you only spend a small amount of time with the client in the presentation and that the other agents in the local area will be pitching for the same listing, you really do need to think about the sales pitch process before you see the client. Preparation is the key.

Are Apps Killing The Traditional Way We Communicate Between Ourselves?

If you ask anyone from the older generations about how the methods of communication have changed, the chances are they could talk for hours about how things aren’t like they used to be.

To be fair to them they may have a point. As we move into a future full of sophisticated gadgets and technological change, it must have an effect on society.

If we take the mobile phone as an example, we can see the rise in its popularity and the way it has developed over the years has led to some drastic changes in the way we lead our lives. Everything a person needs in their day-to-day lives is right there at their fingertips. Who needs an alarm clock landline phone or personal planner when they can be found right there on your mobile phone.

It is no surprise that if this new technology makes our lives that bit easier, then people will strive to make improvements. But we don’t know what the long-term effect this may have on the way we communicate with each other.

Many of the older generation, even if we give them a new smartphone, the chances are they will soon revert back to their old ways because that is what they are used to. Could we see ourselves in a few years time looking back and saying how much the way we communicate has changed? Maybe in ways we have not thought of yet.

Mobile phones have obviously benefited our lives in many ways, from individuals to the entire population. The ease of access to the internet from your phone and the increasing demand for mobile friendly websites has seen a rise in the need for quick and up to date apps to help us. The question is, could these apps be adversely affecting us and we don’t know it?

Go to any social gathering and it seems everyone is using their phone. Everything they need or enjoy is there on their phone, condensed into easy to use applications. Facebook, Twitter and Instagram are all massive social media sites and people are becoming addicted to constantly checking their phones for news or posting updates on what they are doing. This is never more apparent than in a group of friends out socializing.

Again, if we go back a generation, going out with friends meant exactly that. You would be there to enjoy their company. Nowadays it seems we are more interested in seeing who is doing what on social media rather than simply socializing.

Anyone would struggle to find a group of friends who could spend their entire evening talking to one another without being interrupted by someone using their phone or app at some point during the night. The traditional idea of communication between friends in a social situation is being replaced by constantly checking and updating your status. A far cry from living in the moment and enjoying the company of others.

The way we communicate has drastically changed, and not just when people are out and about. Instant messaging is now a massively popular method of communication and with so many different apps out there offering a new take on it, the old-fashioned method of just speaking to a person seems like the relic of a bygone era. Whether it is sending pictures, ‘selfies’ or anything else that your app lets you do, it is getting harder to talk to someone if you don’t have access to all these popular methods.

Could we see a fall in these classic methods of communication? Simply talking to people you know or when meeting new people is not the social norm. Think about when you meet someone; the chances are they will ask you if you are on Facebook or suchlike. Not being a regular user of these social media apps could make you seem out of touch with what is considered normal.

Are we heading towards a world where the simple act of talking to a person face to face is seen as old-fashioned? These new apps may make our lives easier in one way, but we run the risk of changing the idea of what it means to communicate with one another.

Or do you think the old ways were more fun and enjoyable?