This is the 3rd installment of my 4 part blog series on CRE Leasing myths debunked. We have already covered Posting and Hoping, Somebody Else Will Lease My Property, and now we are on to Weekly Reporting is Enough, and we will finish the series with the well-known Taking Tenant Reps to Lunch. This series will explore these common myths and shed light on what you should focus on when it is your job to get a commercial property leased.
Myths About Leasing Your Property – Weekly Client Reports
· Providing my client with a weekly or monthly report on the marketing campaign activity is enough.
Let’s debunk this Myth!
· So you really think your client or building owner is not sitting there wondering what is going on every single minute of the day? Well they are! In fact, they are actually tapping their fingers on the desk waiting for you to call to let them know what you did that day. Remember, if you are leasing vacant space, every single minute and hour that space sits empty, your client is losing money. In the event of a sale, the situation can be just as time sensitive.
While it is absurd to have to type up a report in Excel or any other program that makes you re-type every email and conversation anyone has about your property on a current basis, there is technology out there that allows the ability to add comments and changes of status on a current basis. There is no excuse today for anyone who is reporting to clients on the status of their activity not to use a platform that allows immediate feedback. You should always put yourself in the shoes of the owner, portfolio or asset manager and find a solution that permits access to your marketing campaign and will allow them the ability to look at the “leasing report” anytime and anywhere they want.
The more you keep your client informed and “in the know” on where you are with their deal and campaign, the better broker you will be! The other benefit is that it saves you tons of wasted time giving them daily verbal reports.
“Successful People Do What Unsuccessful People Won’t”
Image “Hands Hold Tablet With Flat Simplistic Inforgraphic Charts On A” by Sira Anamwong Courtesy of FreeDigitalPhotos.net