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Include brokers in budget discussions.
The broker is ultimately responsible for completing deals. A skilled broker is familiar with market expense comps, and
their input can help the property manager determine whether cuts should be made or scopes should be adjusted.
The inclusion of the broker in budget discussions allows the property manager to present the reasoning for major
expenses and/or increases, thus preparing the broker with adequate information if he or she should be questioned
by a potential tenant.
Develop a rapport between agency leasing and property management teams.
By sharing informal visits or going to lunch, we can all better learn and understand the specific roles within our
industry and successfully assist one another.
Share a monthly executive summary.
By sharing this report, the property manager is providing the broker with a brief overview of the important activities
at the property throughout the month. Sharing the executive summary allows the broker to be well-versed on all
aspects of property operations in advance of speaking with the asset manager.
THESE ESSENTIAL POINTS LEAD TO ONE KEY ELEMENT: COMMUNICATION.
IF BROKERS AND PROPERTY MANAGERS DEVELOP A POSITIVE RELATIONSHIP,
THIS WILL LEVERAGE A WHOLESOME, EFFECTIVE PROPERTY MANAGEMENT TEAM
THAT THRIVES WITH OUR CLIENTS IN MIND.
ASSET SERVICES INSIGHTS | 7