Hey Landlords, Take Care of the Basics First

By
Commercial Real Estate Agent with REATA Commercial Realty, Inc. Texas 537349

Creativity is nice, but from a tenant rep's perspective, I want the basics done right before anything else. First, make sure that you have good marketing collateral - property brochures and as-built floor plans on all vacant spaces. Make sure the as-builts are prepared by an architect and not just hand-drawn. But I’ll take hand-drawn over nothing. And be sure that the file size isn’t so big that it can’t be emailed.

Second, have the property data kept current on all the commercial listing services - Costar, Xceligent, LoopNet, etc. - and be sure all marketing collateral is attached to your listings on those sites as well. If I'm doing a search at night or on the weekend (which I do frequently) and I can't get the brochure or floor plans because you have been too lazy to list them there, I couldn't care less about your creativity. Your creativity won't solve my problem.

One more thing about your listings, please be sure to have the rental rate or purchase price shown. Leaving that space blank or just entering "Negotiable" is incredibly annoying to tenant reps. Those listing services are set up to help us get to the properties which meet our clients' criteria quickly and avoid bothering you (the listing agent) with a client that can't afford your rates. Trust me, you aren't that good of a salesperson to be able to talk a tenant rep into adding your property to the list of options if it's priced out of our client's reach.

Third, make it easy to do business with your landlord. Quote market rental rates, expenses and tenant improvement allowances. Have a reasonable lease document which you will send me as an unprotected Word document so I can review the document and share comments with the tenant and its attorney more effectively. Respond quickly. Show up to property tours or at least leave the space open for us. When I ask for something in an RFP, respond to it. Don’t just ignore it as if it doesn’t exist. I have asked for it for a reason.

Finally, I'm happy to come to your broker party, eat your food, take your give-aways, and hopefully win a trip. But it won't make any difference when it's time to actually do a deal. I am a fiduciary to my client and no amount of wining-and-dining or bonus commissions will detract me from that responsibility. Parties and give-aways should be seen by landlords as a way to get brokers into their buildings. It’s simply a way to raise awareness of the property. It's not likely to get leased directly because of that party. And it's certainly no substitute for the basics.

Okay, that turned into a rant. Sorry about that. I was a landlord for 20 years before becoming a tenant rep so I know it’s just not that hard to make life easier on those who bring you business.

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_________________________________________________________________________

Bob Gibbons

REATA Commercial Realty, Inc. | 1211 E. 15th Street, Plano, TX  75074

972-468-1946 p | 866-439-8015 f | 972-984-8580 m

bob@texastenantrep.com | www.TexasTenantRep.com

 

 

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Tags:
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Rainmaker
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Morris Massre
Pembroke Pines, FL
Real Estate Instructor Broward County Florida

Hey, the truth is the truth and I find the same here.  So many blanks left for whatever reason is always annoying.

Dec 05, 2011 03:48 AM #1
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Rainmaker
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Bob Gibbons

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