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#119967 - 07/11/06 05:39 PM Leasing Process..How do wer get paid?
Charlestonwv Offline
Member

Registered: 04/11/06
Posts: 72
Loc: Charleston,wv
I'm new to RE(4 months) but am doing well(no paycheck yet but all my transactions will pay at one time) Anywho., I just got a contractor who is going to be building a strip mall and would like me to find people who would like to lease each unit... Obviosly i'm excited but don;t really now where to begin. My thoughts are to first get Demographics for the area(where do i find this?) and then use the blueprints he gave me to contrsuct a brochure to send to other business..> Do I call Starbucks? PiZza Hut... Etc?
How do agents get paid for this lease service?

I appreciate the help. You guys/gals are great!!!
Thanks,
Bret
_________________________
www.NETBRET.COM
"It's better to be green and growing then ripe and rotten"

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#119968 - 07/12/06 10:17 AM Re: Leasing Process..How do wer get paid?
Paul Oaks Offline
Major Contributor

Registered: 06/23/04
Posts: 3370
Loc: Central Illinois
What you need to do is referr this or co-list with an experienced commercial agent. You are not fully representing this client as you do not know even these simple things. Find a commercial agent in the area or with your company and co-list and learn from that person. Commercial real estate is a very different ballgame especially when dealing with retail leasing.

 Quote:
Originally posted by Nidafarian:
I'm new to RE(4 months) but am doing well(no paycheck yet but all my transactions will pay at one time) Anywho., I just got a contractor who is going to be building a strip mall and would like me to find people who would like to lease each unit... Obviosly i'm excited but don;t really now where to begin. My thoughts are to first get Demographics for the area(where do i find this?) and then use the blueprints he gave me to contrsuct a brochure to send to other business..> Do I call Starbucks? PiZza Hut... Etc?
How do agents get paid for this lease service?

I appreciate the help. You guys/gals are great!!!
Thanks,
Bret
_________________________
Paul Oaks
Oaks Real Estate Group

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#119969 - 08/13/06 07:49 AM Re: Leasing Process..How do wer get paid?
MiamiRealEstate Offline
Member

Registered: 05/24/06
Posts: 158
Loc: Florida
Try to findd a commercial agent who is also a member of the ICSC - International Council of Shopping Centers. They publish a directory of every major tenant looking to rent space and what their criteria are. Also, go aroubnd other shopping centers in the area and see if anyone is interested in moving or opening up a second store. By the way... if yoy ever get kicked out of a shopping center for doing that (soliciting away tenants), we, in the commercial real estate field, consider it a 'badge of honor', kinda like a notch in a belt! It means you're working!
Good luck.
MRE

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#119970 - 11/12/06 07:36 PM Re: Leasing Process..How do wer get paid?
FirstClassFunding Offline
Member

Registered: 04/04/06
Posts: 15
Loc: SMYRNA, TN
no spam please.

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#119971 - 11/14/06 02:29 PM Re: Leasing Process..How do wer get paid?
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 8471
Loc: georgia
Before you do all of this work what stage is the project in?Is the gound broken already?Usually the contractor just builds it out the developer controls everything.

Example a project i am doing now.I am assembling older business parcels for a shopping center and condo development.The cheaper they sell to me for each parcel on an assignment the more money i make selling it to the developer.

Just make sure before you go after these businesses that you have an agreement in writing on how you will be paid.Also make sure this is a done deal and all re-zoning,approvals by the dot,government,schools,etc. have been met.You don't want to line up a bunch of people on a deal that might not even materialize.

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