Tenant rep brokers are looking for the perfect space for their clients. They want a space that checks all the boxes—size, parking, location, connectivity, etc.
But even if a building hits every mark, or more importantly, hits ALMOST every mark, you still need to sell it. It’s your job not just to find the right space, but to convince your client that it’s the right space.
Working with a client’s expectations
Let’s say you’re working with a branch office of a mid-range paper supply company. They just merged with another branch and need to expand. The branch manager has an exhaustive list of demands: it has to be close to the city center, include both industrial warehouse space and industrial-turned-office space, and have a basketball court on the property.
Well, there aren’t going to be spaces that big near the center of the city. And the one spot that seems perfect is across the street from Staples. And a basketball court? Good luck.
What to look for when touring a property
After weeks of looking and using your technology to scout familiar spaces, you’ve found an intriguing option. You head to the property to make sure you understand the real story around the building. After scouting it out, you’ve determined it has these features:
- Adequate parking
- Easy accessibility
- No immediate traffic congestion points
- Agreeable exterior surroundings both on and off the property
- Enough building entrance and exit points
- Working elevators and/or stairwells in good condition
- Clean public bathrooms that are easy to access
- High-quality internet connectivity and infrastructure
You’ve also toured the neighborhood and done your research on criminal activity stats, NIMBYs and any major construction projects.
How to put it together into a story that sells
Once you’ve done your homework, it’s time to put the pieces together to sell the space. It doesn’t have a basketball court, so you’ll have to emphasize the other features. Take the time to shape what you know into the best property story possible. Show the client what you know both about their needs and how the property best fits those needs.
Use an employee commute map to show how close the new location is to many of their workers. Emphasize the proximity to bars and restaurants (and a gym with a basketball court). Note how the technology available in the building is faster and more reliable than their old space, and how much time and money that will save them in the long run.
If you’ve established a relationship, incorporate a story they’ve already told you. For example, remind them of the time their internet went down for a day, costing them a lot of money in lost sales calls and delayed paper deliveries. The new building clearly has much better connectivity, ensuring they won’t run into that problem again.
You can show off all your intel with a tour book that includes compiled third party data and location maps along with information like detailed rent comps, market data, and building certifications. Be specific and detailed, but make it personal. By providing insightful on-the-ground information, along with your expertise and a thorough property analysis, you can tell a property story that sells.