Why Can’t We See the Space Today? – Part 2 - San Antonio Tenant Representation
I wrote a blog last week titled “Why Can’t We See the Space Today? – San Antonio Tenant Representation” where I provided a sample email that I would send a client discussing some of the issues that we face in coordinating commercial lease space tours. Click here to Read Last Weeks Blog
Today’s blog “Why Can’t We See the Space Today? – Part 2 – San Antonio Tenant Representation” provides a dialouge between one of my favorite commercial real estate social media experts, Linda Day Harrison (Chicago), and me in her LinkedIn Group theBrokerList for commercial real estate (cre) professionals . If you haven’t joined her group yet on Linkedin or joined her web site where she provides free marketing exposure to CRE folks around the country, then I highly recommend doing so! click here to go to the brokerlist
Below her comments you will find feedback that I provided. The main reason for sharing this dialogue is to better show how we can all sharpen each other by communicating together in social media forums! If Linda hadn’t posted the comments she did, I would have never known that my article was incomplete. Thanks for sharpening me Linda! Linda’s LinkedIn group or my LinkedIn group Commercial Real Estate Texas are great places where we can all grow together!
Linda Day Harrison, CPM,CCIM —–Interesting. I did not know about the Landlord brokers being late, but I guess if they are not on-site and have many showings and run around, you can get behind schedule. If I were a Landlord, product rep I would do my best to avoid that, if possible. I was always on-site so I was at an advantage, back in the day when I showed space!
I always had food, drink, cold water and my entire staff available or with me on our tours, including the building engineer, if a large user! It was nice because the potential tenant saw our extreme customer service and met our staff and remembered our building because we were so extreme in making them feel welcome!! They loved the food, snacks or water or coffee we served, depending on time of day, building amenities, etc. We made a big deal out of each showing and we were generally very successful.
The brokers wanted to work with us and the tenants knew they were being embraced by our team from the first moment they came to our sites.
P.S. brings back so many fond memories!!! Thanks Link!
Link LeGrand, CCIM—— Great comments Linda! Landlord brokers showing up late to tours isn’t really the problem that we face in our tenant rep assignments. Most landlord brokers are on time when we schedule a tour. The problem comes in trying to coordinate my client’s schedule…with my schedule…and then trying to schedule “back-to-back” appointments (for efficiency) with multiple landlord brokers (the off-site landlord broker has the toughest schedule to coordinate with in the industry). The most consistent topics that I hear from tenants when they try to work without a tenant rep broker are (in the order of most typical)…1) I haven’t been able to coordinate my schedule with the landlord broker. (this can take diligence, understanding, and the ability to sell oneself) 2) I wasn’t able to find very many options to look for (they don’t know where to look so then end up “settling”) 3) What is acceptable to negotiate? (some seek “blood” in the wrong areas and don’t ask in others) 4) Should I lease, buy, or build? (complicated answer that must remain specific to their situation—seek advice if you don’t know how to answer this question—it isn’t a crime to say, “I don’t know, but I will find out!”) 5) What does NNN mean? (most tenants, even the ones that do a lot of deals, usually don’t “really” understand the different types of commercial leases.)
My opinion is that a tenant rep broker’s job is to educate their client to the point where their services are no longer required, but remain desired! We do this by teaching. The best brokers in the business are often teachers at heart. We can’t teach what we don’t know…this is why we must be willing to be mentored. Once we know, it is our fiduciary responsibility to the higher power that drives our life to mentor others. We should always seek “to be mentored”…and “to mentor” in all phases of our lives!
A solid San Antonio Tenant Representation Broker must be great at coordinating schedules and helping their clients navigate/analyze each option. It’s physically impossible to be in multiple locations at the same time (without a Delorean, clone, good assistant, or real estate partner). Most solid landlord leasing brokers represent many locations. One of the main reasons for the blog (most of the longer blogs that I write come from real questions that I encounter during my daily travels) was to help tenant representation brokers (who haven’t been landlord brokers) understand the difficulties that their counterparts might be up against…and show some ideas that might make their lives easier (and their client’s) in terms of scheduling.
Another reason was to emphasize that we are all on the same team. The examples that you provided are great relating to this concept as well. It is largely why I am drawn to reading your blogs. I 100% agree that landlord brokers can set themselves apart from the pack if they will strive to be timely with returned calls and communication. I also believe that the “experience” a landlord broker provides during the tour will often help “tenant rep” brokers and tenants to better understand how they might be treated if they were to lease the space. We all have to remember, unlike brokerage deals, that commercial leasing is typically a long term relationship that we are working to establish between two parties that don’t know each other. There is a reason why many “marriages” don’t work (setting poor expectations up front and lack of commitment to making it work by BOTH parties are the most common reasons that I see). We need to recognize that brokerage deals are like dating. We go to the prom with the other side of the transaction, but much like Cinderella, our charriot turns back into a pumpkin at midnight. The closing date is the official end to the buyer/seller relationship. The tenant/landlord relationship is much more like a “marriage” because both parties have to find a way to live together after the first date.
It’s clear to me that you “get it” by the type of “experience” your group provided during property tours. “Win-Win” deals should always be our goal. We obtain win/win opportunities when we switch from “competing” to “completing”.
Check out the following blog to better understand what I mean by “completing”. Click here to read
Why Can't We See the Space Today? - Part 2 - San Antonio Tenant Representation
I wrote a blog last week titled "Why Can't We See the Space Today? - San Antonio Tenant Representation" where I provided a sample email that I would send a client discussing some of the issues that we face in coordinating commercial lease space tours.