Thread by @Bethazor1

“I’m not the one to lease this property going forward.”

After 2 years with zero leasing on an asset I owned with partners, I was listening to a podcast where I was reminded the definition of insanity is doing the same thing again and again.

I had offered broker incentives, I had prospected thru FB, IG, Craigslist,canvassed, had broker parties, chamber mtgs, you name it!

NO leases.

Listening to the podcast, the message was- DO SOMETHING DIFFERENTLY!!

I decided I needed to bring someone else in to lease it! 🤦‍♀️

Me! The Canvassing Queen. Trainer to many leasing agents around the country!

Me!

I can’t lease my own property!

I need to hire another company to lease MY OWN center!

Really?

What would people say?

Should I care?

I called my partners.

Me: I think I’ve made a decision.

We need to hire someone else to lease our property.

My partner: Really?

Me: Yes, I haven’t been able to be successful, so maybe someone else can!

I need to think about the fiduciary to my partners and

not

my own ego.

I hire a group who I think is one of the best teams in south Fla. (Because they truly canvass.)

They immediately do a lease with an Indian restaurant.

11 mos later- no more leases.

I call them in for an end of year discussion.

He says “are you letting us go?”

I tell him “no, but we need to brainstorm!”

We discuss the challenges. I confirm that I’ve been open with rents - very flexible, will even offer TI (which I’m usually allergic to 😎)

I say, “if we offered 1 year free rent (base and cam) - could you generate more activity ?”

He said “really? “

Me: Yes!

We need to get some activity going!

Let’s go out to market - canvass - and even put on your fliers - Free Rent till 2020! (This was January 2019)

I said, let’s think about this - you get a deal in Feb,

they sign a lease in March,

they do… twitter.com/i/web/status/1…

It takes 3 mos to get a permit,

and 2 mos to construct-

they open in Oct-

so they are really only getting 2-3 mos of free rent!

The sooner you get out to market and the faster they can move -

they are incentivized to sign faster and do less work!

He and his team were… twitter.com/i/web/status/1…

We were also excited with the idea and joined the marketing effort by canvassing with the flier too!

Free Rent till 2020!

Guess what happened?

We signed our first deal with a kitchen and bath shop- thru a broker - 1200sf

Then we signed a Blinds store- 2706sf

3900sf signed in 90 days when during the prior 2.5 years only 1200sf was signed!

We then signed a comic book/collectibles store for 4900sf.

The idea was Genius!

It did what it needed to do!

It got the biz owner’s attention.

They came and looked at space!

And some… twitter.com/i/web/status/1…

Seems like a crazy idea at the time, but it changed the trajectory of the property! If you are stagnant, make a change-

Make a change with your agent,

and your offers.

It may just work!! #retwit