Most experienced leasing brokers agree that establishing a commercial tenant population usually requires representing landlords for a period of time. When you have a lease listing, you attract tenants and some number will not have an interest in your listed space but allow you to assist them with finding what they do want. Prospecting for landlords can include small to mid-sized inline shopping center owners, office building owners, retail property owners or industrial property owners. You can locate an ownership list if you want to purchase leads or you can approach landlords directly and solicit a listing.
Don’t forget to reach out to your past residential buyers and sellers to determine if they’re in business for themselves or planning to take the plunge. This group of prospects already has a relationship with you and may be in need of commercial leasing assistance. Residential agents are focused on getting a home sold so the idea of a link to commercial leasing never surfaces. It’s just a matter of making contact and asking a few questions. Take advantage of relationships that already exist.
Another idea for tenant prospecting involves franchisors. Consider approaching newer and smaller franchisors that have less than 100 franchise locations. Many of these companies don’t yet have a large corporate infrastructure and are willing to outsource their real estate needs. You can reach out to the franchisor and offer to assist with site location. Franchisees are usually given geographic boundaries to locate within and the franchisor wants the ultimate approval of the location to come from the franchisee. Working with franchisors and franchisees can provide excellent leasing business activity.
Schools are another potential source of commercial tenants. Graduating chiropractors, for example, will often be looking for space to begin their practice. Graduating hair stylists may want to open their own salon and need assistance. Graduating MD’s, dentists, physical therapists and/or veterinarians are other examples of potential leasing clients. Once again, if you choose to move in this prospecting direction, you will need to devise a means of identifying these graduates. Once you have a list, you will need a dynamic message, an efficient means of message delivery and a persuasive engagement pitch. Schools usually have student advisors that could be the strategic cooperative alliance you need. Look for prospecting methods that others have overlooked.
Large companies are often forced to impose early retirement or lay off mid-level to upper-level management personnel. These individuals usually face significant challenges associated with finding employment. These challenges can motivate the individuals to consider small business ownership. Some may see franchising as best but others don’t want a franchisor mandating policies and procedures. Most new small business owners choose to initially lease space and need assistance. If you want to take this direction, you could begin by reaching out to the human resources department and determine if the company offers out-placement assistance or if you could become a referral for real estate needs.
These are only a few ideas that could help you find commercial tenant clients. I’m sure there are many other ways and I challenge you to approach prospecting creatively. I’m convinced that determined agents will find a way to succeed. I’m also convinced that the road to success is paved with good old fashioned hard work. So, if you’re looking for instant gratification, buy an ice cream cone and when you’re done eating the tasty treat; get back to the grind associated with finding clients. Good hunting!