The services we provide as the local commercial or retail real estate agency are quite specific and special. The local property market will change throughout the year, as will the supply and demand for premises. On that basis, we are the experts to help the clients that we serve.
Sales and leasing strategies for commercial and retail property will change throughout the year. Each and every prospect should be entered into a database so that we can build on all future opportunity when the right property comes along. Your diligence here will help your commission conversions and future listing opportunity.
Local property market information will come in many forms including prices, rentals, future developments, and the supply and demand for new space to occupy. The clients that we serve cannot hope to cover those issues themselves. That is where we step in as the experts and property strategists.
Top agents know how to package the negotiation for the best outcomes and results for the client. These agents know what the market is doing, and how to package the right transaction for the clients that they serve.
Here are some tips to help you design your services for your local commercial and retail property clients.
- Local market information will vary throughout the year; you will see changing results in both sales and leasing activity. This local market activity will be setting the necessary benchmarks and the market rentals or prices as the case may be.
- Local business sentiment, together with changes in the business community will have impact when it comes to property occupancy, sales, leasing, and rental returns. It is our job to accumulate the necessary market knowledge and strategy to help the clients that we serve. Optimising property occupancy and rental returns will help the eventual sales equation and resultant price.
- Rental strategy is quite specific to the location, the property type, and the intentions of the landlord. In most cases, the rental should be set with the landlord prior to commencing any marketing effort relating to the particular property. Standards and differences will apply when it comes to gross rental, net rental, incentives, rent reviews, and lease options. We are the experts to help with these factors.
- Monitor the lease terms and conditions that apply to existing properties in the local area. Business sentiment will have impact on existing negotiations and marketing strategies that you apply to each and every listing. The supply and demand for local property will have immediate impact on the starting rental for any leases. The same for pressures apply when it comes to the sale price. On this basis, you need to know the differences between asking prices or rents, verses the facts and outcomes in finalised and completed transactions.
- Outgoings and operating costs will need to be recovered when it comes to lease occupancy. The decisions you make here will have impact on the landlord and the rental structure of the lease document. Local market standards, and the particular elements of the property may influence you when it comes to gross or net rental. Importantly, the operating costs for the property should be recovered as part of the lease structure, so make the right decisions when it comes to rental type and outgoings recovery.
- Tenant mix strategy will shift and change throughout the year. Tenancy mix decisions become important when you are working with a property containing multiple occupants in close proximity. The duration of leases, and the proximity of those leases to other tenants need to be considered as part of each lease negotiation.
- The permitted use for each lease and tenant occupancy should be well considered and controlled. Is quite important to ensure that the permitted use described in each lease that you negotiate is very specific and tight. Too much latitude here will allow the tenant to change the focus of the business and the offering to their customers. This also has impact on any future lease assignment or subletting situation. The permitted use will also have relevance to the tenancy mix strategy and any tenant retention plans that you implement.
- Vacancy and lease management should occur throughout the year. Staying well ahead of any lease events and critical dates is quite important. Prepare the landlord for any negotiations well in advance. Have due regard for the local market conditions and the benchmarks established by other similar properties nearby.
It is easy to see why the services we provide as commercial real estate agents are regarded as specialised and unique. That is why we charge a significant fee for service. The clients that we serve can benefit significantly from the factors of our negotiation and finalised transactions.