There is no arguing that we are all facing challenging times. Companies in Houston are not only dealing with COVID-19, but also the effects of historically low oil prices. These two factors are causing many office tenants to search for a solution disposing of excess space. And many of those not in a position to renegotiate with their landlord are turning to the sublease market.
While leasing activity has grinded to a halt making disposing of excess space through a sublease difficult, there is still a reason to stay positive. It only takes one right fit to find the solution. This is the time for a tenant rep broker to use all of his or her skills and tools to market the space in the most thorough way. All steps should be taken to execute the right marketing plan and get the maximum exposure online, with brokers and direct prospects alike. Every possibility of disposing of the excess space with the landlord should be vetted. Timely follow up with each prospect to provide any possible way to make the space work increases your likelihood of success. We should be using technology to our advantage by providing virtual tours to give each prospect as much information as we can.
The urge to declare this year, and maybe even next year, a loss and a total disaster might be tempting. But giving up gives us no opportunity to succeed for our clients. Our positive attitudes and perseverance are what make us the partners and advocates our clients count on. Because it only takes one.