4 Expert Strategies to Fill Your Small Shop Vacancies Faster

Last week, Daniel Tartakovsky, Leasing Manager at Lamar Companies, joined Resquared Co-Founder Tyler Carlson on our latest webinar: Tips & Tricks for Filling Small Shop Vacancies

Check out Dan's strategies on how to keep the human touch in deals and empower small business entrepreneurs in our communities. 

1. Learn, don’t sell.

When you get on the phone with a potential tenant, it’s tempting to go right into selling mode. Instead, focus on understanding their needs, dilemmas, and hurdles before trying to sell them on a space. Become skilled at asking genuine questions that elicit genuine responses, and use that information to figure out the best way to work with them and emphasize specific features of the space.

Maybe you find out a prospect is struggling with a neglectful landlord and a leaky roof. Tell them how those problems could be solved if they move over to your space.

2. Do multichannel outreach. 

When reaching out to potential tenants, utilize multiple channels such as email, Facebook, Instagram, and LinkedIn. Resquared data shows it often takes 8+ touchpoints to close a deal. Additionally, response rates increase by up to 20% when you follow up with a prospect on a different platform.

Be sure to tailor your first few messages to avoid sounding like a generic email blast. The more your message looks like spam, the less likely a prospect is to take your offer seriously.

I'm usually sending two emails, I’m reaching out on Facebook, I’m reaching out on Instagram, I’m reaching out on LinkedIn if they have one. 

3. Play the long game. 

Even if you get a "no" upfront, a little bit of persistence and follow up can lead to unexpected opportunities later on. Ask questions to find out why it isn’t a good fit, what their non-negotiable requirements are for the space, or when their current lease expires. Down the road, you might have a vacancy that fulfills all their needs 

You don’t know where a potential tenant might be three months, six months, a year down the road.

3. Help your prospect envision the space. 

Once you get your prospect onto a site tour, point them to the most attractive features of the space. Does your space have a nice view? Does it have good foot traffic? Even if the space doesn’t have a lot to point to, be a good partner to them by being ready with recommendations of good contractors or architects in your area to help them build it out.

Help them build out the space that makes sense for them.

Watch the full webinar recording below!



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