Leasing Tip of the Day: How to Learn Your Market
If you want to learn your market, what’s the first thing you should do? Get out and go for a drive. Get out of your office and drive around, making sure to notice shopping centers, drive-throughs, and more. Look through the vacancies. Walk through the anchors. See the tenants. See the customers that are walking through the tenant spaces, so you can feel and understand what’s going on in your market. Knowing your market is crucial and will help you in your career so much more than just getting information from a website. I hope this encourages you to get in the car and drive! Happy Leasing!
Leasing Tip of the Day: Coasting Costs You
Collect $200 as long as you pass GO! Forward movement delivers value every time! DON’T STOP!! Continue moving! Activity breeds Activity! When you pause or stop, you begin to coast; the direction in which one coasts is…. DOWNWARD! Keep Moving Forward. Even if you don’t see results immediately, Be Patient! When I canvass, if I get a “No” I say, “Thanks for the $100!” Why? If I canvass 50 people, I can usually get a deal. The commission averages $5000. So, each no = $100!! Move today! GO! And collect $200!!
Leasing Tip of the Day: How to Network the Right Way
“Intention” networking. For students and newbies. When you set up a lunch or coffee with an industry peer or mentor, it’s always smart to have a plan. Have a few questions ready. These are very valuable meetings and you, as the inviter, should not wing it. Nor should you spend 15 minutes telling the person what you’ve been up to. These experts’ time is very valuable. A typical coffee can take 90 min out of their schedule; a lunch, 2 hours. You want to learn from them. If they need info from you to help them give you appropriate advice, they will ask. Think ahead: “Why am I meeting with this person? What specific advice or market intel can I ask them about?” “Tell me about your journey or career path” is not a great question. That answer alone could take 3 hours depending on how old the expert is! 😊 But asking them “Why did you pick the asset class you are in?” or “Was there ever a class or workshop you took that helped you further your career?” or “What lesson did you learn the most from when you were learning our business?” is going to help you and it may jog […]
Leasing Tip of the Day: Radio Silence…and what to do about it
Humor trumps anger (and nagging). A few times in my career, I have found where professionals in a deal have gone radio silent and I need them to call me back to get a deal back on track or finished. No amount of voicemails or emails seems to help. I turn to my favorite method of getting their attention… COOKIES! I call Cookies by Design and I put creative messages on the cookies such as “please call me”, “(their company name) is #1!”, etc. Inevitably, within 20 minutes of getting the cookies, they call and VOILA! The deal is back on track! Last week, I was speaking to a client and she mentioned she was having a hard time getting a deal moved ahead because of an attorney who had an overwhelming workload. He had apologized many times but to no avail… the lease wasn’t getting done. I shared my cookie scheme; She loved it! She sent cookies that same day and you’ve prob guessed by now that it worked like a charm. The lease is now signed!! She liked the cookie idea so much, she has since sent 11 bouquets and 10 have responded!!! What ideas have you used to get someone’s attention? Humor works every time! It’s not personal that they are not getting back to you. They are distracted, busy, and most likely overwhelmed. Do something […]
Leasing Tip of the Day: How Much Money Are You Leaving on the Table?
Hey Retail Leasing folks, How much $$$ do you make? (No, you don’t need to answer but are you satisfied with that number?) If you are making in excess of $100,000 net to you, or $200,000 (I know a bunch of you are!) then…. Do you have an assistant? Do you have things you do that don’t justify you doing them yourself at your hourly rate of $48 ($100k) or $96 ($200k) per hour? For 20 hours per week, you can start with an assistant. 20 hours at $25 per hour = $500 per week. What more could YOU do and how would that help you earn MORE than your current income? If you have been stagnant at your current income, it may be time to leverage up with an assistant. I hear some of my clients tell me, “But what if they aren’t good and helpful, then what? I’ve wasted that money!” Well, you will need to hold them accountable and keep them on track. Learning management and leadership along the way is always good to add to the resume. Some of you tell me your company should pay for the assistant. But if they won’t, should you be stubborn and not help yourself, by paying for one yourself? Rarely do I see companies paying for help these days. If you are the CEO of your future…. […]
Leasing Tip of the Day: How to Hire an Assistant
Assistants. I’ve been speaking about this with my students and clients a lot lately. It seems like they are all looking for help. That’s a good thing. It means they are in a position to scale. However, I keep seeing some mistakes they are making. Here are a few of them: 1. They hire friends, kids of friends, or people that fall into their laps vs searching for the best candidate. Don’t rush into this hire. 2. They hire licensees who want to be in the real estate game, but you want them to be an assistant. Salespeople and assistants, IMO, have different skill sets. I love Josee Crosbie who has been with me for 19 years, but she would quit if I made her go canvassing. Decide what you want: an assistant or a rookie broker, then hire for that. 3. Little to no accountability after the hire. Once the person is hired, you need to be all over them, every day for the 1st 30 days. Because if they aren’t the right person, you need to let them go. I find most people hire fast and fire slow. And it should be the opposite – hire slow and fire fast. Here’s […]
Leasing Tip of the Day: Time Management Tips
Time Management Tips for Leasing Agents I’m not a time management guru, but I get asked all of the time about time management tips. Here are 5 things that work […]
Leasing Tip of the Day: Meet the Tenants
Meet the Tenants: Here are two things leasing agents should be doing with their properties: 1️⃣ Meet the Tenants: I highly suggest you get to know your properties by meeting […]
Leasing Tip of the Day: Show Up & Throw Up
Show up And Throw up On a call today with one of my clients, she asked me to help her with a presentation to a National Retailer for her city. How can she “story tell” better to a potential national retailer about her city? She said she had another one earlier in the week that she thought she had bombed. I asked her what she did in the presentation, and she told me she shared all of the Chamber of Commerce stats of why they should consider opening a location in her city. So basically, she…. Showed up And Threw up Meaning she listed the 43 chamber stats that the retailer may or didn’t have any interest in. Instead, my suggestions were the following: 1. Research if the retailer has opened other locations in a city nearby and find out specifics about the location they picked. Was it near the airport? Was it near high income? High traffic? Great visibility? Near high daytime pop? Near tourist destinations? and so on. 2. Ask the retailer why they picked that location in that […]
Leasing Tip of the Day: Keywords are in fact, the key
It’s all in the words we choose. No, it’s not what you think! Lol. During a week of prospecting in Cleveland, we were finishing visiting our list of stopping by […]