Interest Generator Sources
`Interest Generator Sources
“New information that affects or drives rents and values” in your market
Regarding value:
Deals first and foremost
- New deals for sale that no one else knows about-“ No one knows about this Mr. _ but”
- New deals for sale that you are the first to tell them about- “Have you heard about the deal for sale near you?”
- Properties that the owner will “look at an offer”, for sale only to you!
- Deals that are in escrow-“ Most of us were surprised to see how fast this sold”, how many offers, I hear it went above list
- Deals that have just closed- “There’s a great story behind this deal we just closed”
- Deals that might be coming to market- “I’m doing an estimate of value on a deal near yours and wanted to ask about your rents, or and I had to estimate the value of your building a s part of the study
- Offers: “a client of mine just got an offer this week that was interesting….”
- Buyers: “A client of mine just closed a deal and is in an exchange, What is your position in the market today?”
Estimate of value- Can an estimate of value be an interest generator?
- I just did a proposal on a building in your neighborhood and wondered how you keep up with values.
- I just took a gorgeous picture of your building for a proposal I’m doing nearby, Do you have a good picture of the building?
Market Conditions today- “We’re seeing a change in the market this year, are you”
- Rents- rent raises- recent leases- TIs- “ I’ve just finished touring every vacant space, and compiled every recent lease and tenant move-out in your area Mr…. how do you keep up with this stuff?” or “ I was surprised at the Landlord TI contribution, how do you follow this info”
- Interest Rates…..”We’ve just analyzed how interest rates are affecting deals and underwriting”
- “We’ve analyzed how this point in the market cycle may be an opportunity”
- Increasing Inventory- “One of the signs of change is in the inventory that we’re seeing right now Mr. “
- Inflationary forces- “ Our research division is showing Energy prices and core inflation increasing”
- Lender underwriting “ Lenders are reacting to the rate hikes by making it a little easier, or harder to get loans right now”
- Dealing with rent control
- Potential tax law changes
- National research reports
- Local submarket reports
- The Robert Bruss Newsletter: “ There was an interesting Landlord/Tenant case that came out last week that made me think of your building”
- Is the market changing.. “What are you seeing Mr……..”
- Single tenant triple net properties “What do you think of these new properties that have become so popular”
Building Operations:
- There are 3 things my clients do to their buildings to be ready for the fall/winter/rainy season, How do you prep your building?
What do my clients do? Well it starts with us taking a five minute walk around the building now, while the weather is so nice and I’ll also let you know the latest from the board of supervisors, is tomorrow OK?
- We’ve made a study of how changes to your lobby and common areas can improve your rents, with some specific suggestions, How do you think that might help your building?
- We have created a vendor List for owners in____, How could that help you?
- I was in your building/shopping center yesterday and I noticed……
Financial Planning:
- Financial planners never seem to really understand Real Estate, and clients appreciate that they don’t pay to talk with me, there’s an interesting article on estate taxes from last weeks WSJ, did you see it?
- Particularly if you are thinking of keeping your building…
News - must read local paper, business journal, wsj
- Did you see that article about the new development in downtown
Santa Rosa
Events
“Did you vote today Mr.”
If they own multiple buildings,
- Consolidate management
- Diversify by geography or product
Or just one building,
- Vendor List
Occupancy stories