Leasing Tip of the Day: Bonding with Tenant Rep Brokers

In the world of commercial real estate, the connections you make can be the key to success. One essential connection you should aim to build is with tenant rep brokers. These are the folks who represent tenants and handle the tenant side of a real estate deal, and they can be a valuable asset.

So, how do you go about making these connections and nurturing them? Well, it’s all about finding the right tenant rep brokers in your market. Here’s a tip I’ve learned over the years: ask your leasing agent friends for recommendations. These guys know who’s been bringing them deals, and that’s a great starting point.

Once you have a name, don’t waste any time – give them a call and offer to bring them coffee. But here’s where you need to be savvy: never invite a tenant rep for a coffee date. These folks are successful, and their time is valuable. Instead, be courteous and bring them coffee to their office. It’s a gesture that shows respect for their time, and it won’t eat up too much of it.

When you meet with them, take the time to get to know them and the retailers they represent. You don’t want to waste their time by pitching ‘C’ space when they primarily deal with ‘A’ tenants.

But here’s the real secret: nurture that relationship. Building a partnership with a good tenant rep broker can become your most consistent and profitable source of revenue. In my own experience, I’ve found that between 30-50% of my deals come from these valuable connections.

So, remember, in commercial real estate, building relationships with tenant rep brokers can be a game-changer. Treat their time with respect, and you could be on your way to long-term success.