Leasing Dos and Don'ts To Help You Fill Your Space
Occupancies are improving for most commercial property, but smart leasing tactics are still needed to seal the deal.
April 1, 2011
Kipp Gstettenbauer, CCIM, of Cushman & Wakefield of San Diego and Greg Gunn, SOIR, with Coldwell Banker Utah in Salt Lake City share their advice for leasing commercial property.
- Qualify over the phone, either directly or through a rep. There’s no reason to show space if there’s clearly no fit.
- Recognize that most tenants lack imagination. Show a model—virtual or otherwise—or an occupied space to help them see that a space configuration will meet their needs.
- Let tenants learn as they go. Educate them about what they may need or want and then vary your presentation as their perceptions change.
- Step on the tenant rep. Making the rep look good and seem smart creates an ally. Defer questions to the rep first, and don’t send info directly to a prospect unless asked specifically to do so.
- Make a deal with a weak tenant. If vacancies are high, it’s tempting to take any warm body, but the owner won’t thank you if the tenant blows out the lease in a year.
- Push space you don’t understand. If your location is large enough, focus your effort by specializing in a property type and sub-market.