Leasing Tip of the Day: Have a Little Patience

Leasing Tip of the Day: Have a Little Patience

I know you’re eager to close deals quickly and move on to bigger ones. But sometimes, you need to slow down, build relationships, and add value to get the right deal done. That’s the Gary Vaynerchuk way—respectful persistence and patience.

Here’s a story about how patience paid off for me:

A few years ago, I wanted to bring a golf store into my Boynton Beach center, which was near many golf communities. I canvassed about 20 golf stores in the area and found the perfect fit: Nevada Bob’s. Their shop was a mile away in a smaller space, but I wanted them in my 6,000-square-foot spot.

I needed to learn more about the owner, Drew, and his situation. After some conversations, I found out that Drew was renting his space, and his lease would be up in two years. That’s when my CRM system became crucial—I made sure to track all these details.

Over the next year, I built rapport with Drew. I visited his store multiple times, bought gifts there, and became the “shopping center lady” in his mind. After about a year, I mentioned expanding into my space. Drew was hesitant, but I explained how long these deals could take.

It took two years, but we finally closed the deal. It wasn’t quick or easy, but the payoff was worth it. Sometimes, you need to invest time and effort to get the best deals. Be patient, and play the long game!

Share

Blog Comments

Leave a Comment

Your email address will not be published. Required fields are marked *

More Posts

Tell EVERYONE What You’re Looking For

This might sound obvious, but you’d be shocked how many leasing agents keep their vacancies to themselves like it’s classified info. Spoiler alert: It’s not. Rockstars treat everyone as a potential lead—or someone who knows one. So shout it from the rooftops:📣 Tell your friends.📣 Tell your family.📣 Tell your barista, your book club, your golf foursome, your Uber driver.📣 Post it on Facebook (yes, right between the vacation pics and sourdough starters). I’ve leased space from a conversation at church, on the bleachers at a little league game, even at the grocery store. But none of that would’ve happened if I hadn’t shared what I was looking for. So make it a habit: know your Top 5 Uses and talk about them. Everywhere. And if someone sends you a lead?✅ Follow up (immediately!)✅ Follow back with your friend—and show your appreciation. A simple thank you text, coffee gift card, or shoutout goes a long way. Deals are hiding in plain sight—you just have to let people know what you’re looking for. Let the world help you lease! 💥

Read More

Learn Your Health Ratios—They’ll Make or Break the Deal

Want to know if a tenant is truly a good fit for your center? It’s not just about how great they are—it’s about how much money they’ll make and whether they can afford your rent. That’s where the health ratio (aka occupancy cost ratio) comes in. Here’s the formula:Annual Sales ÷ Annual Rent = Health Ratio For example:$500,000 in annual sales ÷ $50,000 in rent = 10% health ratio Different industries have different thresholds, but as a general rule, 10% or under is ideal. Anything higher? 🚩 You might have a great tenant in the wrong location—or charging too much rent for their margins. You can find industry benchmarks in the ULI Dollars and Cents of Shopping Centers guide (yep, still relevant even though the last version was 2008). Learning to read a business plan or analyze a P&L isn’t just a bonus skill—it’s a must if you want to sign long-term, successful tenants. The rent you charge has to align with the tenant’s ability to generate sales. Period. So before you sign that next lease, do the math. Know the ratios. And lease like a Rockstar.

Read More

Use the ‘Top 5 Uses’ Form to Power Your Prospecting

You’ve done the homework—your market study’s solid, you’ve toured your vacancies, checked your exclusives, and you’re knee-deep in lease lingo. Now it’s time for the fun part: prospecting with purpose. Before you make a single call or send that first email, fill out a Top 5 Uses worksheet for ONE property at a time. This is where strategy meets action. Think of it as your prospecting blueprint. 🎯 Be specific: Don’t just write “restaurant.” Write “Fast Casual Mexican Taco Concept” or “White Tablecloth Steakhouse with Full Liquor License.”🎯 Match your picks to your square footage, visibility, and—most importantly—your demographics.🎯 Think about synergy: Which uses will complement your current lineup and drive traffic? When you complete this worksheet first, every cold call, DM, or knock on a door is intentional and aligned. That’s how Rockstars work. So grab your notes, get focused, and build your Top 5 Uses list before diving into your next round of prospecting. It’s a total game-changer. 📝🔥 Shopping Center Name: ____________________________Top 5 Uses:

Read More

Get the Tenant Mix Right (And Keep It Tight!)

Want to create long-term value in your center and save yourself future headaches? Start by making sure each tenant is in the right space for their use. Do you have a destination tenant—like a physical therapist—camped out on an end cap? Or a seasonal tenant (hello, tax prep in April) taking up a prime spot year-round? If so, that’s a missed opportunity. Make a note and tuck it away… because when the right prospect comes along, you might just have a chance to reposition and upgrade. ROCKSTAR TIP: Always check the lease before making any relocation promises. If they’ve got a huge build-out or relocation clause, you better know it before you offer that space to someone else. Getting the mix right means impulse tenants belong in high-visibility spots, and destination uses go in the elbows. Simple shifts in placement can drive more traffic, boost co-tenancy synergy, and improve your center’s overall performance. Right tenant, right space = Rockstar leasing.

Read More

Beth's Resources

Beth has established a reputation for “giving back” and creating a legacy of helping others. To support this mission, she offers a wealth of FREE resources for individuals in the retail leasing industry, whether you’re a newcomer or a seasoned professional. Her collection includes case studies from her nearly 40 years of experience, providing practical insights and guidance. With Beth’s resources, you’ll gain valuable tools to navigate the complexities of retail leasing and achieve your professional goals.

E-News

Subscribe to the Beth Azor e-news to stay up to date with commercial real estate trends, events, and expert advice.

We promise, no spam. Just great content.

E-News

Subscribe to the Beth Azor e-news to stay up to date with commercial real estate trends, events, and expert advice.

We promise, no spam. Just great content.