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What to Expect from the Broker:
- Determine the needs of the owner and the project
- Understanding all the characteristics of the property
- Who are your potential users for the property
- How can values be maximized
- Who is the competition in the market and how to obtain success for our client
- Prepare a marketing package
- Users
- Inventory all competitive properties in the market and their tenancy.
- Search by SIC codes potential with a 1 - 25 mile radius of property using OneSource Business Information data base.
- Check other data banks for upcoming lease expirations of companies within defined market area.
- Correspond with all users by providing marketing information to each.
- The Property
- Assemble all property information including site plan, floor plans, elevations, aerial and existing leases.
- Compile a fact sheet and flyer for property indicating available space and characteristics of property.
- Install "Available" sign on property where appropriate.
- Provide details of the property on Kowit & Passov web page as well as CoStar Information Systems and LoopNet.
- Implement Marketing Program
- Correspond with Tenants selected
- Send packages to prospective Tenants
- Physical viewing of the property by prospective Tenants
- Prepare and deliver Letters of Intent to Tenant/Owner
- Negotiate Letters of Intent and Leases
- Communicate between both parties' legal council
- Guide the finalization of legal documents to satisfactory conclusion to assure targeted turnover and opening dates
- Keep in the loop with the application of permits to the city
- Keep the Tenant informed of important dates so that Tenant opens as scheduled
- Reporting
- Throughout the process provide Owner with leasing status reports
- Provide complete information on the property to all retail Brokers and cooperate fully with all
What to Expect from the Owner:
- Prompt Response to Calls
- Calls for the discussion of offers/counter offers
- Calls for general questions regarding the property
- Accurate Information
- Information regarding what deals can be done
- Information regarding the condition of space
- Clean site plan for marketing
- Keys for all vacant spaces
- General
- All calls on property to be referred to Broker
- Kept in the loop with discussion with new / existing Tenants
- All vacant spaces will be kept in a presentable condition
- Prompt response to offers and lease negotiations
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