November 20th, 2013
When I woke up this morning I knew something was different about today. I arrived at the Scottsdale Quarter around 8:00 am, stopped in at Press Coffee for my morning java and I was ready for another day at the office. Lo and behold, today marks my one year anniversary at Strategic Retail Group. My first year of brokerage has provided me with so many experiences. I remember my first ICSC Las Vegas CRE Convention… the time I locked myself out of a vacant restaurant with the security alarm blaring…. and closing my first deal. Overall, 2013 has been a successful first year.
Here are a few tips I’d like to share with other aspiring or new #CRE Brokers:
Be ready for anything: I was meeting a prospective tenant at a vacant restaurant at one of my shopping center properties. The man was happy to introduce me to his father who did not speak any English. Halfway through the tour, the man and his father began to loudly speak to each other in an urgent stream of dialog. It wasn’t until Grandpa started running toward the restroom that I realized this guy really had a personal emergency… I was quickly trying to explain that there was no running water and you can’t flush the toilet, but it was too late. We continued our meeting while grandpa took care of business in a pitch black restroom. About ten minutes later, the man came out having finally understood what I was trying to say. He was ashamed. I was nice, and played it off like nothing happened. Dad paced around the front door ready to leave and the meeting was soon adjourned. I received a message later that evening letting me know that the restaurant didn’t seem like a good fit for them. This showing lead to an interesting report back to the property owner.
Canvass, Canvass, Canvass: If there is one thing that has helped me succeed this year, it’s canvassing. I think of canvassing as speed dating. Create a profile (One minute pitch), then go on as many dates as possible. When dealing with “C” quality properties, it takes personal conversation to share the various incentives and benefits that will convince someone to move to an otherwise less desirable location. As a broker, always lead with the benefits… Canvassing provides the opportunity to establish a personal relationship with tenants, which then inspires business owners to keep my contact information and tell other tenants about our meeting. Always walk away knowing more about the owner of the business. When does their lease expire? What will it take to get a deal done? Before I leave, I let them know they can look forward to hearing back from me soon. Now, it’s up to me to maintain the relationship and continue to follow up.
Report to your clients: Creating marketing reports feels like being grounded on a Friday night. You will always have something better to do than to type a mundane report to show off all of the work you did and in how many different ways someone told you “No”. Just remember everything you send out is a representation of yourself and you never know who will get to read your update. Develop a system that will allow you to swiftly create and send marketing updates. When you think your work is complete, double check that the date, headers, fonts, and alignments are all in good order. Remember that your client always appreciates a well-crafted up to date report. Marketing updates are a huge part of maintaining relationships with your clients and you can’t have any fun until you finish your chores…
Associate | Strategic Retail Group
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