Advice on cold calling tenants
I'm a very new agent and have been tasked by my broker with cold calling office and industrial tenants throughout the city trying to dig up tenant rep mandates or leads for our listings. My question is what approach to take? So far I haven't come up with anything better than "I work for brokerage X and am conducting market research could you please tell me how much space you're in, how long you've been there etc." and then hoping they ask about our services.

I've read other threads here saying bring value to each call, but I'm somewhat at a loss for calling tenant's rather than owners.

Any help is much appreciated.

[{"id": "cwmgxso", "text": "I've heard the market survey approach often, I guess it's supposed to prevent people from being defensive that you are \"selling\" something, but nobody likes people who cold call about surveys either. It'd be nice if you had some interesting and relevant market knowledge you could share, but I guess that's tough to have when you are just starting out...", "replies": [{"id": "cwmutzs", "text": "i've never tried that approach but personally I agree.  I'd blow someone off much faster if they were doing a 'survey' or some shit.  I'll pretty much talk to anyone for 30 seconds to figure out what they are selling otherwise", "replies": [], "depth": 2}], "depth": 1}, {"id": "cwmlmj2", "text": "Typically, people want to immediately know why you're calling and then GTFO the phone as quickly as possible. I try to limit all the fluff and sales pitch bs. \n\nGenerally, I tell people I'm in the business of helping tenants identify a new location and negotiate favorable terms. I'll ask what problems they're currently facing with their existing space and take the convo from there.  The goal is offering a solution which in turn adds value. If you can show proof even better. \n\n\"Our rent escalations are too high\"\n\n\"I am consistently able to negotiate 1.5% escalation rates\" \n\nAnd sometimes I'll bring a problem to light they didn't realize they had. This is a good tactic if they're not very open on the phone. ", "replies": [], "depth": 1}, {"id": "cwmlmlw", "text": "Exactly, it's all about offering them value, i.e. knowledge of the market they're in.\n\n\"I represent businesses like yours all the time (\"I work extensively with Industrial space in my market) and I'm just curious if you had any planned real estate needs coming up; lease negotiations, plans to expand, etc.\"\n\nIf they have a lease running out soon make a note and do your best to sell em on one of your buildings. Maybe you can get a piece of a lease negotiation. Maybe they're thinking about buying. If they're in a space and they just signed a 5 year lease just make a note and follow up a couple times a year and make sure they're still happy with their lease. If they happen to need new space tell them all about how much knowledge you have of the marketplace, what a great deal you can get them, etc. Keep some facts on hand that you can use to back up your claims. Make yourself stand out as someone that can save them money in the long run, sell yourself as a consultant/advisor instead of a real estate agent. In my market it's the owners that pay the fees so Tenant Rep usually isn't even that hard to sell someone on if you have the right property up your sleeve already.", "replies": [{"id": "cwmzp44", "text": "I like this straight up approach. Will try it today. Thanks!", "replies": [], "depth": 2}, {"id": "cwo5nsx", "text": "Okay update, I made a bunch of calls and got a really good response! Definitely fewer people were suspicious / eager to get off the phone and in general I actually got more info than before without even asking! I'll be sticking with this approach, thanks JFitt", "replies": [{"id": "cwomnwg", "text": "Glad it worked out!", "replies": [], "depth": 3}], "depth": 2}, {"id": "cwogluv", "text": "This is a great approach. Any tips on getting to a decision maker?  The front desk clerks usually won't have this info on hand and will send you to someones voice-mail. ", "replies": [{"id": "cwonbse", "text": "Yeah, that can be difficult. In my experience the best way to get to decision makers and gaining their trust is to catch them in their element where they're already open to communicating. Find them at Chambers of Commerce meetings, municipal/political events, Leads Groups, etc. It's a pain in the ass but if you do these networking events and are willing to shake hands with some strangers it can mean a lot of business down the line.\n\nIf all you can do is leave a voicemail I think that the most important thing is saying something immediately that will get them to stay on the line instead of hanging up and deleting the vm before you can demonstrate your value. \"Hi my name is u/elDongler and I may have a way to save you money on your real estate costs. I specialize in businesses/properties like yours, let's talk some time etc....\"", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "cwpd1co", "text": "Depending on whats going on in your market, you could say vacancies are forecasted to increase in their submarket, thus giving tenants a chance to relocate to better space with little rent increases. If their lease is expiring soon, whether they need to expand, relocate, or downsize, it could be the time to start looking into the market.", "replies": [], "depth": 1}, {"id": "cyvwvq6", "text": "This is a great link that will give you some advice regarding when/how to make your calls. It's helped me bring my numbers up a ton since actively using it.\n\nhttp://research.insidesales.com/acton/attachment/1207/f-0433/1/-/-/-/-/LRM-info-graphic-poster-16-5x21-5.pdf?a=blg001", "replies": [{"id": "czeuba3", "text": "Have the same poster up in my office ha", "replies": [], "depth": 2}], "depth": 1}]