What should I expect?
Another important part of my business is listing properties for sale or lease. In order to do this, I must develop relationships with owners. This is a huge challenge for several reasons. First, a broker cannot directly go after a listing in which another broker is on the listing. Second, many building owners already have established relationships. Third, the competition is huge.
When I am fortunate to be in a position to present my services to an owner, it is important that I am able to convey all my services in a clear and concise manner. It is important that I show that even though I am from a smaller/medium size firm, that I will offer a much more comprehensive and personal service they will not receive from 99% of the rest of the firms out there.
Most firms say that they offer a lot of services, but most of the time, they do not perform. They usually do the basics such as making a flyer, putting up a sign and putting it in the main Database called Costar. they may also put it on LoopNet. That is usually the extent. Inf act, many brokers, don’t even show up to their own showings, rather they give the other broker the lockbox code to the property and have them show it. Where i differentiate myself from the other brokers is that I have a comprehensive plan and a guarantee. If i do not perform everything I promise in my proposal, then they can fire me before the listing expires.
Some of the things I offer that are above and beyond what most brokers offer: Send monthly mailing to all tenants I have canvassed or have done deals with whose leases are coming due within 24 months. I also pro-actively email blast all brokers who work the area featuring specific property every couple of weeks keeping it fresh in broker’s minds. canvas by phone and / or by knocking on doors every day. I advertise my listed properties monthly using a ½ page advertisement in the Scottsdale Airpark News which circulates to over 2000 local businesses. My relationship with the editors at the Scottsdale Airpark allow me to write articles in their publication which generates additional visibility. Furthermore, the Scottsdale Airpark News allows my clients to be mentioned in the magazine. I creatively market through TEXT, blogging, and other social networks, weekly updates on many websites that are geared to the end user as well as to brokers. I subscribe to web services and have special relationships with database provider who uses Web optimization to help potential tenants and buyers find me through the web. Unless there are extreme circumstances, I am at all of my showings which increases our chances of leasing or selling. My owners also appreciate my continual communication with them. They like how they are kept in the loop on showings, marketing and strategies. Unlike many brokers, I pride myself on follow up on all leads and returned phone calls.
A multi-tenant building Jim represented just lost six of twelve tenants when the market was caught in the downturn. The individual spaces which always rented in the past suddenly became quite challenging. Despite the now tough market, Jim had a constant flow of activity, but no one was renting. The potential tenants who Jim toured through the property were not leasing in this complex and in fact were going to other properties. The pressure was high and leases were needed. Through research, Jim discovered the properties being leased were in much nicer shape. Strategy was discussed and determined the suites had become old and obsolete. It was decided to give each suite a facelift and bring it up to date while keeping an eye on cost and return on investment. Jim worked diligently with ownership to streamline the process and update only where necessary. The results, after improvements, were that the building became 100% leased within five weeks.
“Jim is top notch. Extremely knowledgeable of the industrial leasing market, where he represents me and my company, and knows the macro level as well as the micro level. Jim is extremely responsive to the ever-changing requirements for getting tenants to see my properties, and to finalizing and wrapping up leases. He stays in constant touch with all the players involved, develops and implements successful strategy, and follows through on all the details. Since finding and first working with Jim, we have looked no further for our leasing requirements.”
– Chandler Associates Steve Greenberg, managing member