Whether your portfolio includes multifamily, retail office or industrial properties, hiring the right Leasing Agent is critical for its success. The best Leasing Agents will ensure your vacant spaces are leased quickly and that the negotiations are as smooth as possible. These skills are applicable whether you are hiring a Leasing Associate or a Leasing Executive.
A top Leasing Agent has to be a good listener for both the tenants and the owners. As the person connecting tenants and owners, it is essential that they listen to the things that are said and unsaid on both sides. Tenants will frequently hesitate to directly say that a space doesn’t fit their needs to a representative of the owner. However, many tenants will reveal what they think of a space by how they discuss the space. Many tenants emphasize the positive aspects of a space, rather than say “it’s not right.” A top Leasing Agent will identify and address these concerns, guiding the tenant to the right space. Listening to what both a real estate owner and a tenant want gives them a leg up on their competition.
Whether the Leasing Agent is in-house or working for a brokerage firm, they need to have a thorough understanding of the current market and how it’s changing. 2020 created an enormous upheaval in the retail, office and apartment rental markets. Each of these markets are stabilizing in 2021, sometimes with huge gaps between areas or building class. An in-house Leasing Agent has to know how their properties stack up to the market. That way, they are able to identify and sign quality tenants for the owner’s real estate portfolio. Brokers need to know the details of the spaces available for lease so that they can direct their clients to the right space and location.
Communication is essential for Leasing Agents to succeed in closing deals. Many agents are working with several clients in various stages of the leasing process. Some clients will be in the process of identifying potential spaces to lease. Others will be touring properties with the agent. When they finally are ready to negotiate the terms of their lease, communication is even more important. At any of these stages, it is easy for a potential tenant to fall through the cracks and lose the deal. Great Leasing Agents are able to keep all of their clients moving forward in the decision making process by regularly checking in with them and following up with owners about the units.
If you are considering hiring a new professional for your leasing team, let us help. We will identify the right candidate for your role, whether you are adding an entry-level Leasing Assistant or an Executive.