Retail Brokerage: Thriving Where Competition Is Fierce
In an EXCLUSIVE GlobeSt.com article, Gregory M. Tannor, EVP at Lee & Associates
shares five points of advice for a sector where bankruptcies are continuing to make headlines.
February 1, 2019 (NEW YORK, NY) – Throughout my 16 years in the commercial real estate industry specializing in retail leasing and representing both tenants and property owners in Manhattan as well as nationally, I have learned and studied the best practices to help form and maintain relationships and ultimately, to win business. Below, I have outlined my advice on how to thrive in an industry in which talent and creativity abound, meaning that competition is fierce.
Information is the Golden Ticket
Retailers are a unique group of individuals. I have met some remarkable people throughout my career and what has been most essential to “winning” business is information. When I was in elementary school, I remember seeing a television commercial that stated “the more you know, the further you grow.” Years later, I realized how that statement could not have been more accurate. I have found that providing information to my property owners and tenants only helps to further relationships. Retailers and owners want to know who is in the market, how much tenants are paying and the various lengths of lease terms. On the whole, the more information you give to your client, the more they will trust and respect you.
Learn to Collaborate
Being a team player goes beyond the assignment at hand. Work together, find out what is needed, offer things that have not been asked for, stay on top of all aspects of the assignment and ask questions. I have found that my clients almost always appreciate it when I ask questions. The broker should become a part of their client’s team, not just by doing their brokerage work, but by becoming a key confidant for whatever is needed. You always want to be a client’s “go-to” person.
About Lee & Associates Commercial Real Estate Services
Lee & Associates is a fully-integrated commercial real estate company with unrivaled capabilities and an unwavering dedication to integrity. Our business-minded brokers specialize in office, industrial, retail, multi-family, land, investment services, corporate solutions, and valuation and appraisal services. As the fastest-growing broker-owned firm in the nation, with 60+ office locations in North America, we are uniquely qualified to support our clients’ real estate needs in the local, national and international markets. For more information, visit www.lee-associates.com/.