Learn Commercial Real Estate
Happy week days. I hope you find some quiet and loud victories this week,
As I sit writing to you ,enjoying a coffee, a thought came to me.
Let's chat about the connection between Sales and Leasing.
Originally, I had planned to write to you about commercial real estate insurance, but I had an epiphany to instead write about the connection between sales and leasing in commercial real estate.
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I also wanted to teach you a word in Hebrew. It is Kesef and when I speak to my family using slang, we use the word Kesef instead of money.
So if we are ever on the phone or talking in a meeting and you want info on the numbers or are confused about the money you just say to me - "Divine, the kesef," and I'll know.
The connection between Sales and Leasing is like Parent and Child.
First comes the Purchase - then comes the Lease.
How many Sales Agents are you reaching out to?
Most brokerages have a Leasing and Sales dept. - Not all of them, but lots. The brokerages that don't have Leasing Agents may be looking for a Rockstar like you. (Just Sayin')
Connect with them. Let them know you exist.
" But wouldn't they just Lease it themselves , Divine?"
The answer is not all the time. Let me give you some real life facts.
1. Just because an agent can Lease a building doesn't mean that's their cup of tea.
Leasing Comps and Sales Comps are 2 different things. It is literally 2 different market segments. Maybe they don't want to fool with it, and maybe they GIVE IT TO YOU.
2. Some Investors will use one real estate agent to Sell their property and a completely different real estate company to Lease their property.
So remember just because a Landlord/ Investor/ Developer is working with an agent on sales - doesn't mean you can't kindly inquire if they need your assistance.
And you can actually do both. Leasing and Sales. There are a lot of agents in our community already selling homes and land.
There are opportunities everywhere.
Remember the Investors of today need Leasing agents tomorrow.
Leasing is an irreplaceable skill.
Small Things Make a Big Difference
Before reaching out to a sales agent. Get a bit of back round on them and what they do. (Agent or Real Estate Firm) Make sure you understand what the Lease comps are like in that market, for example.
Be able to add value and prove you are a reliable agent that understand the market and gets the job done.
Different Point of View
Leasing is really a wide segment. Some of the segments and opportunities are:
- Lease renegotiations
- Sale-Lease Backs
- Leasing Development Projects
- Reppin' Landlords
- Reppin' Tenants
- Business Relocation Specialist
- Specialised Leverage Leasing
I hope you understand the opportunities that yours to have in this world of Leasing.
What Remains the Same
Knowing your market and being visible as a resource will win you the listing. Being efficient flexible and ready will give you an edge over the other agents.
Being Patient if you are waiting for a particular property to get finish a sales process or if you are waiting on a building renovation to get prepared for Leases.
Leasing and brokerage is career one can do until they expire - literally. The longer you do it the beter you get at it , the easier it becomes.
As always have a productive week.
ENGAGE AND CONNECT WITH US. I'd love to hear from you.
ENGAGE AND CONNECT WITH US
BRING US YOUR QUESTIONS ABOUT LEASING
WE ARE HERE TO HELP
Website address www.LearnCommercialRealEstate.
The best is yet to come,