Is it a commission following completion of an assignment? Is it a happy client? Is it a glowing testimonial and subsequent referrals? Is it all of the above? Is there more?
What if you could tap into a process that would save you time and increase your productivity, improve your referral rates from your clients and ensure that your commissions per deal were higher than those you have been able to achieve historically? Would that start to look like a successful business model?
The most successful tenant reps are those that deliver on their claims to match a tenant’s business needs, with an office space that meets those needs perfectly. To ensure this happens consistently a far more strategic approach to the questions surrounding size of office, location of office and the office rental budget need to be explored. The most important question for a tenant to answer is therefore –
“How will our new office space affect our business?”
To answer this question, any business will need to assess their responses to the 4 elements of risk and opportunity associated with occupying office space described in the book, Don’t Worry About the Rent: Choosing new office space to boost business performance. These 4 elements are strategic, reputational, operational and resources and are best represented by the following questions; –
- Strategic: How can we choose an office that best suits our client’s business?
- Reputational: How can our choice of office enhance our brand and positively affect our customers?
- Operational: How can our choice of office increase operational efficiency and workplace productivity?
- Resources: How can our choice of office attract the best and brightest staff to our business and keep them happy and healthy?
The ability for a tenant rep to tease out the answers to these questions from their clients, will then assist with shortlisting office space options that perfectly match their client’s business needs. The outcome from this process will be the ability to place businesses in office spaces that will; positively affect the accelerated growth of their business, attract the best and brightest to their business, directly contribute to reducing staff turnover and improve workplace productivity.
The result for your clients is the potential for improved business performance to be significant enough for their office rental costs to be completely offset.
The result for you will be happy clients, more referrals, enhanced reputation, bigger pipeline, increased revenue streams and greater profitability.