How to be a More Successful Tenant Rep

In News by darrenbils1 Comment

How do we define success for our tenant reps? 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?

I think we can define tenant rep success through the 3P’s of Pipeline, Productivity and Profit. It would be fair to say that the 1st two P’s of pipeline and productivity have a significant effect on the 3rd P of profit. But that all 3 are needed to be there together in sync for continued and sustained success to be achieved.

Building a solid pipeline of opportunities is a significant key to running a successful tenant rep business. That could be a business that might employ many reps or simply represents a solo enterprise. Generally speaking there are 2 main factors at play here. The first is the ability to create a unique value proposition, one that is different to your competitors in the marketplace and resonates strongly with your prospects. Secondly, you need to have or build a strong reputation for results. Delivering on promises to your clients, or ideally exceeding expectations will do the trick. How your advice supports the needs of their business will dictate their view of the level of value they have received and therefore their level of committment to future loyality.
More fees and commissions relate to greater income. The ability to do more deals with more clients all at the same time is absolutely critical and therefore efficiency and productivity are keys for increasing income.

Profitability is of course completely dependent on efficiency and productivity. It is also utterly dependent on the consistency of your pipeline. The ability to more quickly articulate a value proposition for your clients and then succinctly and efficiently deliver an outcome is key. Whether that outcome meets or exceeds their expectations is perhaps the biggest factor in the delivery of long term sustainable success for tenant reps and the businesses they represent. When these outcomes can be delivered consistently and reliably, the process of the 3P’s will then feed into a tenant reps reputation and assist in more referrals. This is the positive feedback loop of success for tenant reps where strong systems and processes will ultimately feed pipeline.

The challenge for tenant reps is to create or tap into a process that will save time and increase productivity, improve referral rates and ensure commissions per deal are higher than those that have been able to achieve historically. Finding such a solution should then form the basis of a very successful business model.

Happy clients, more referrals, enhanced reputation, bigger pipeline, increased revenue streams and greater profitability will then be the result for tenant reps and their business.

Success will never look better.

A Process to Deliver the 3P's

Click here to learn more about our Blueprint² process

Blueprint²

Blueprint² is a web based application that walks a client prospect through a series of up to 50 questions which are then analysed to create a project brief. The brief provides details on preferred locational requirements, building amenity, effective size of office, transport options, workplace choices, engineering preferences and budget expectations.
Blueprint² was created to provide tenant reps with a solution for the 3P’s described above. Our tenant requirements briefs provide tenant reps with a unique value proposition via their methodology and consistent quality. Generating briefs very quickly allows tenant reps to successfully service more clients thereby increasing their efficiency and productivity.
Finally, Blueprint² will contribute significantly to profitability through ease of use, consistency and reliability in delivery, higher commissions through matching tenant drivers to higher grade property attributes and building better tenant rep brand reputation.

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