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Here's how you can enhance your negotiation skills as a leader in Commercial Leasing.

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Navigating the complexities of commercial leasing requires more than just a firm handshake and a confident smile. It's about understanding the intricacies of lease agreements, the nuances of property value, and the art of negotiation. As a leader in this field, enhancing your negotiation skills can significantly impact the success of your transactions. It's not just about closing deals; it's about fostering relationships that lead to long-term partnerships and beneficial arrangements for all parties involved.

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Irena Petrovic

Business Development Manager at Ambyy Buyers Agency | Real Estate Expert
Donald Shindler

Senior Counsel at Clark Hill PLC

1 Know Your Market

Before you enter any negotiation, it's essential to have a deep understanding of the commercial leasing market. This means being up-to-date with the current rates, property values, and trends that could affect your negotiation. By having this knowledge at your fingertips, you can confidently argue your position and back up your proposals with solid data. This not only impresses the other party but also shows that you are a well-informed and serious negotiator.

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Irena Petrovic

Business Development Manager at Ambyy Buyers Agency | Real Estate Expert
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Market knowledge is essential. Especially when you speak several languages. I speak Russian. Latvian and English. Cultural differences and laws are important to consider.

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Ciomara Campos

Crafting Compelling Content to Elevate Your Brand | Wichita-Based Content Creator Specializing in Small Business Growth
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In property management, we call this the market survey. A market survey should be performed at least once a week, and this should be done by calling at least 5 to 10 competitors within a 20 mile radius. You will want to acquire the rent for a studio, one bedroom, 2 bedroom (where applicable ) You will also want to get an idea of any fees that are associated with application or living within the community. Staying competitive is important but do also keep in mind that there are certain types of amenities that would justify a higher rent.So make sure that your communities offer similar amenities.

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2 Prepare Thoroughly

Preparation is key in any negotiation. You need to understand the specifics of the property you're dealing with, including its features, benefits, and potential drawbacks. Additionally, you should have a clear idea of what your client needs and what you're willing to compromise on. This preparation allows you to negotiate from a position of strength, knowing when to push for a better deal and when to concede on less critical points.

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3 Build Relationships

Negotiation is not just about the current deal; it's also about building a network of trust. When you foster positive relationships with landlords, agents, and clients, you create a foundation for future negotiations. Being respectful and professional can lead to more amicable negotiations and can even turn competitors into collaborators. Remember, the commercial leasing industry thrives on connections and reputation.

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Ciomara Campos

Crafting Compelling Content to Elevate Your Brand | Wichita-Based Content Creator Specializing in Small Business Growth
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Property management is all about building relationships. You need to build relationships with your prospects, current tenants and your on-site staff. Going above and beyond for your prospects is key, especially on move in day.

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4 Communicate Clearly

Clear communication is vital during negotiations. Ensure that your points are concise and that you articulate the benefits of your proposals effectively. Avoid industry jargon unless it's commonly understood, and always aim to keep the conversation focused on finding mutual benefits. Good communication also involves active listening—pay attention to the other party's concerns and address them appropriately.

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5 Leverage Creativity

Sometimes the best way to break an impasse is to think outside the box. If traditional concessions aren't working, consider alternative solutions that could satisfy both parties. This might include offering additional services, adjusting lease terms, or proposing unique financing options. Creativity in negotiation can demonstrate your commitment to finding a win-win situation and can set you apart as an innovative leader.

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6 Maintain Integrity

Lastly, always maintain a high level of integrity in your negotiations. Be honest about what you can offer and what is non-negotiable. If you make promises, keep them. This not only ensures that the current negotiation is fair but also builds your reputation as a trustworthy professional. In the long run, integrity is one of the most valuable assets you can have in commercial leasing.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Donald Shindler

Senior Counsel at Clark Hill PLC
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Given the importance of the listed items, one consider the benefits of listening twice as much talking. Learn what’s important to the parties on the other side of the prospective transaction and how those impact or coincide with your client’s objectives so as to be able to seek a consensus on deal terms.

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Here's how you can enhance your negotiation skills as a leader in Commercial Leasing.

1

2

3

4

5

6

7

1 Know Your Market

2 Prepare Thoroughly

3 Build Relationships

4 Communicate Clearly

5 Leverage Creativity

6 Maintain Integrity

7 Here’s what else to consider

Commercial Leasing

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Here's how you can enhance your negotiation skills as a leader in Commercial Leasing.

1

2

3

4

5

6

7

1 Know Your Market

2 Prepare Thoroughly

3 Build Relationships

4 Communicate Clearly

5 Leverage Creativity

6 Maintain Integrity

7 Here’s what else to consider

Commercial Leasing

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