Differentiate Yourself and Your Service

Jennifer Medak, Vice President, NAI NBS

Today's shifting economy provides a great opportunity for brokers to truly focus on client interests, being aggressive and creative in weathering the storm. Forget you are a broker and put yourself in the shoes of your client. The empathy, struggles and challenges they face are as real as yours, so by solving their problems you will be solving your own. Spend more time with your owner clientele to make sure their needs are being met with market updates, competitive analyses or by taking them on a tour of their competitor's properties. Sublet their spaces or portions of them to alleviate financial burden. On the tenant side, focus efforts within your area of expertise to ensure that you have the leading market share. Move tenants into more appropriate space, if applicable. In all transactions, negotiate with more detailed market information on renewals. Demonstrate that your knowledge of construction costs, operating expenses and motivation are critical to your client's success, and be prepared to go well beyond the sticker price quoted on your marketing materials. Lastly, believe in your expertise and use it, because this (market) too shall pass.