Closing Skills in Lease Negotiation

Today we see the connection with commercial6. Personal Presence - this is how you enter the
leasing landlords as being more critical to theroom and create personal impact. It's the energy
business process than ever before and that is dueand conviction you apply to the connection. You
to one thing called competition. Our competitormust appear confident in all respects.
real estate agents and brokers in commercial7. Communicating and Relating - this is the linkage
leasing are more numerous and sometimes moretool to the landlord and the tenant. How you
skilled. For this reason we need to be much morerelate will help them see that you respect their
effective in our connection with landlord andopinion and comments.
tenant prospects.8. Selective Questioning - Allow good question
The commercial real estate leasing executivesinteraction on points of lease relevance to flow
that take this matter seriously and handle it well,through the landlord or tenant connection. Help the
are the people that do far better than anyoneother party see that you fully understand their
else in getting the listings and closing the deals.Toleasing position and opinion.
take this matter of rapport and handle it9. Listen with your eyes wide open - It sounds a
effectively is the key to your future in thebit strange but your eyes are a large part of the
industry. You need to do all the things necessarylistening process. As words and meaning are
to professionalise your contact and connectiontransferred between the landlord and yourself,
systems within your leasing business. To help youlook for reactions and feelings that the other
with this we have created a blueprint for theperson displays. Are they relaxed, alert, focused
process.or distracted. Many observations flow from and
As you go through this list, take the time tothrough the body. Look for these things and
consider what you are doing now in commercialinterpret them together with what is being said.
real estate and identify the things that can be10. Personal Positioning - Where you sit in relation
improved. Make notes and plan the things thatto each other and how you face the other
need to be enhanced. So let's start the review.person is part of the meeting connection. They
may have positioned you in a place of weakness,
1. Develop a landlord and tenant mindset - Whatso that you cannot easily connect. If this is done,
we think of and focus on in leasing a property isthen you need to work and move to a more
to a great degree what we will achieve. This saysfavourable place of connection. That may mean
that we should focus on the systems and actionsmoving around the table or moving your chair. A
we are taking to find and connect with moregood business linkage distance is up to 1.5 metres.
landlords and prospects. If you are a leasingBeyond that distance you are isolated. That could
executive, this point needs to be first on yourbe part of their strategy.
agenda each and every day.11. Check facts and restate - In dialogue with the
2. Prepare connection materials that givelandlord or tenant, good leasing executives use
information and match your main message -the process of restating the others position as a
Remember here that adults don't like too muchstrategy of moving towards a close. By
clutter and reading material. They prefer imagesquestioning them regards their comments you are
and pictures that are supported by a smallshowing respect and linkage to their focus and
amount of text. Your leasing display and listingopinion. It makes it easier to close later and at the
materials must be designed to these simple rules.right time.
Take with you extensive support and facts on12. Sharpen your skills with practice - all of the
the current local market trends. Adult love to seeabove are the essential connection skills in the
numbers to support your discussions and ideas.leasing process. They need to be honed and
They need a reason to accept that you are thedeveloped. Practice is the key word here. The
best person to deal with. Numbers and facts frombetter you connect, the better the outcomes for
the leasing and property market will do this.you. If you are in a team of real estate people,
3. Know the leasing tenant well - to help ouryou can do regular dialogue practice to help with
connection and the outcomes we achieve withthis.
landlords and tenants it is quite important to13. Open with the tenant or landlord in mind -
understand the elements of the tenant's situationalways open your dialogue with the other party
and business. This is done more easily today withusing a focus on them. Never approach a tenant
the internet and search engines. Calls andor landlord and create an opening biased towards
meetings should therefore be pre-researchedyour needs for a lease deal or sale. The best
before they occur. The object is to understandleasing executives do this well and keep the
the tenants business and leasing situation beforediscussion directed towards the tenant, their
you get to the meeting.situation, their leasing needs and the relevancy of
4. Set your Agenda not theirs - Knowing whattheir ideas. This process in negotiation is called
you are doing in the leasing market and how you'pacing' and it infers that you are moving in verbal
will discuss it, helps the meeting flow with logic anddialogue with the other person. Make sure you
interest to the tenant or the landlord. Remembershow full respect for the tenants or landlords
that the meeting is about them and not you. Thecomments and ideas before you talk about
flow of interaction needs to be biased towardsyourself or your lease and property opportunities.
them at least 60% of the time.If you know the needs and concerns of the
5. The critical skills of connection - these skills arelandlord or tenant, then the property deal is 75%
the tools used in the physical part of yourdone. Simple isn't it? It then comes down to your
interaction. They are seen by the landlord andmastery of communication and closure. Since this
tenant early in the connection and will largelyis a personal skill it only requires your practice.
affect the flow and outcome of the connection.The best people in the industry do extensive
Landlords interpret these aspects of yourdialogue practice. Start practicing.
connection.