Benefits of Landlord Representation
UNDERSTANDING AGENT VALUE IN THE LEASING PROCESS
1. Your Trusted Real Estate Advisor
Leverage the Sotheby’s International Realty Brand
Sotheby’s International Realty is the globally recognized brand that lends credibility to your offers and elevates your representation. Our success is defined by our deep commitment to our clients. This trust has been built over a legacy of 280 years and counting, with the legendary Sotheby’s auction house representing its clients’ most prized possessions.
Navigating the Lease of your Property
Having an experienced professional in your corner offers a competitive advantage when leasing your commercial property. An agent’s broad perspective, experience and market knowledge can provide a stabilizing force through what can be a challenging process. Our expertise will enable you to achieve your leasing goals.
2. Initial Consultation
An initial meeting is important to understand your leasing needs and to develop a strategy to make a successful lease transaction.
Understanding Your Real Estate Goals
• Lease timing
• Return objectives
• Past experiences with leasing
• Risk tolerance
The Initial Meeting
• The account team interviews you to understand your goals and expectations for the lease.
• We submit a proposal for your consideration, including deliverables, expectations and deadlines.
• Together, we determine the desired communication and update process with you.
3. Benefits of Exclusive Representation
Our agents form partnerships with our clients, providing ongoing services that go far beyond the deal. As your exclusive agent, we are accountable from start to finish to ensure that you gain the greatest outcome in every transaction.
Each lease of a commercial property is a unique journey. Common steps along the way include research, marketing, vetting prospective tenants to understand the strength of their financial position for the deal, due-diligence procedures for both parties, managing various processes and reviews that lead to a successful transaction.
4. Marketing your Property
Determine the Lease Rate and Terms
We will give you an overview of current market conditions and projections based on our extensive market research and expertise. With this information, we will offer a professional pricing strategy based on our analysis of current market conditions.
We will also present strategies for marketing your property effectively by harnessing the market power and benefits of the multiple commercial databases we use; our exclusive database of brokers and developers in North Texas; and the unique network and opportunities available through Sotheby’s International Realty and Briggs Freeman Sotheby’s International Realty. We will also explain and communicate all that we do behind the scenes to get your property leased. We are committed to being available and responsive to you promptly throughout the process.
We will develop a marketing plan for your property, using both digital and print marketing.
• Execute listing agreement
• Create marketing flyer on our Lease template and get approval from you
• Post a sign at your property once approved by you
• Post digital marketing flyer with property listing on the three commercial databases CoStar, LoopNet and Crexi
• Distribute print and digital flyers to our extensive broker list. Repeat as needed
• Distribute print and digital flyers to potential tenants. Repeat as needed
• Show the property, on request, informing you of every tour by text or e-mail. (A licensed real estate advisor will be present at every tour)
• Update inquiry list as inquiries are received
• Update you based upon agreed communications
Specific to a commercial transaction, we work with you to prepare your property for marketing, including:
• Secure broker list, including all brokers who have leased or listed this type of property in the past 24 months
• Secure potential tenant list, including all who have leased/purchased similar properties in the past 24 months
• Confirm property and building information and specifications
• Obtain sale and lease comparables from market sources
5. Navigating to a Successful Lease
The Steps We Will Undertake to Lease Your Property Will Include:
• Obtain offers for the property
• Distribute each offer to you within one business day of its receipt
• Review and provide red-lined comments on all submitted letters of intent (LOIs) and lease agreement drafts and distribute to you
• Coordinate and submit consolidated lease comments to potential tenants
• Coordinate conference calls and/or meetings to discuss and negotiate open issues
• Provide you with concise updates and/or recommendations on unresolved issues
• Prepare recommended counterproposal(s)
• Finalize LOI
• Negotiate final lease agreement
• Track critical lease dates and confirm all have been met
Nothing compares to what’s next.