Whiteboard Wednesday

Whiteboard Wednesday – Commercial Overview: Attract

MRI Commercial Property Management Overview - Attract

Today, Andy Welkley speaks on all the things property management owners and operators need to consider to attract new tenants to their facilities. Visibility into a centralized system makes it possible to maintain relationships and understand the needs of your potential tenants.

 

Video Transcription

Andy: Hey, it’s Andy Welkley, back with another episode of Whiteboard Wednesday. Today is our first edition of our six-part series around commercial management. Today we’re going to talk about how the process gets initiated. We’re going to talk about attracting tenants to your facilities. You had the space and you want to fill it with productive tenants.

The first thing you need to think about are the relationships that you have.

You still need to know the players, you can’t tell the players without a scorecard and you need the tools to be able to do that. You also want to track the details of those relationships. What people are doing? What sort of businesses are they in? What sort of space do they generally look for? You may not make a sale right out of the gate but having that information for follow-up opportunities, referrals and just basically to take the temperature of the business is really critical.

The second aspect that we want to talk about is data. You want to be able to track the activities that you’re undertaking, you want to track the deals and the opportunities that you’re pursuing. In addition to the space that you have available to match those deals and opportunities, you want that available at the tips of your fingers so that you can access it quickly and respond to opportunities that pop up at a moment’s notice. You really need the elements of a CRM system here to track all that information.

If you have multiple representatives working on your facilities and your rental opportunities then you want to make sure that they all have access to that information so that that information is spread across your organization. Visibility into a centralized system really makes it possible for you to maintain those relationships, understand the needs of your potential clients and customers and turn them into tenants. That’s Whiteboard Wednesday number one, stay tuned next week as we talk about the next aspect of commercial management.

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