When you are leasing commercial property to a tenant, there are a few good principles to follow in the sales pitch about the premises and in the process of negotiating leasing. These principles apply with both office and industrial premises.
At the outset remember that the inspection and the pitch is all about the tenant and the premises; it has nothing to do with you. You are only the facilitator to the deal. All comments and questions should focus on the tenant and their needs.
Remove your ideas of more commission and closing another deal immediately. Start to focus on the tenant and the benefits they can get from the property. You should know the property and the location better than the tenant so you can do something with that knowledge.
Here are some ideas to introduce to the inspection and negotiations:
- How would the tenant and the business operate from the new location?
- What will the property and tenancy do for the tenant in their business?
- How will it impact productivity in costs and time?
- What will the staff do with more space and fresh new premises?
- How can the fitout design improve their business function for staff and the departments of the business?
- What are the possibilities of expansion from the premises into adjoining tenancies?
- Will the premises improve their customer access and service capability?
- Proximity to other businesses in the precinct may be beneficial
- What image and prestige will the new premises give the tenants and their business?
- Transport facilities and car parking may be offering better business functionality for the tenant.
- Will the new premises help with storage, access to raw materials, or ports?
All of these points will help the tenant look at and see the advantages of the new property. When you add your local knowledge to the process of inspection and discussion, the tenant will give you further ideas to drill down on.
One other strategy factor to use in the tenant pitch process is the best way you can inspect the property. When the property was first listed you should have worked out with the landlord the best way to take tenants into and around the property. This helps you with the interest factor and the close when it needs to be done.
The process of inspection and sales pitch about the leasing property is really easy when you think about it from the tenant’s perspective. Put yourself in their shoes, talk about the premises from their angle; the lease negotiation will be much easier.