Shopping Mall Leasing Strategies for Real Estate Brokers

The leasing of a shopping mall is a specific strategy relative to the location, the property type, the customer demographic, and the landlord. All factors come together to contribute towards a successful leasing outcome and tenancy mix.

It should be said that a successful leasing strategy will contribute towards the greater the benefit of the property. More customers will be encouraged to visit the property and purchase goods or services. On that basis retail leasing is quite special.

Here are some tips to help you with leasing a retail mall in today’s property market:

  1. Understand the vacancy factors that apply to the precinct or location. An excessive number of vacant tenancies will have an impact on market rentals and incentives. Check out the factors of supply and demand that apply within the region. Look for any new property developments that could have an impact on tenant movement and market rentals.
  2. Understand the types of incentives that can be offered by the landlord to attract tenants. Also understand the requirements of tenants when it comes to incentives in today’s market. Any vacancy that you have available for lease needs to be matched to the prevailing market conditions. That will include the rental types, and the incentives offered. The landlord needs to adjust to the prevailing market conditions. Get some details of comparable rentals and other properties nearby to help the landlord understand the packaging of their vacant tenancy.
  3. It should be said that a lease incentive cost should be recovered through the rental structure over the lease term. In other words, any money that is lost or offset in the incentive availability should be recovered by rental growth and escalation across the lease term. You can do this calculation through an assumption of market rentals and a discount cash flow calculation. The net present value of the deal can be compared across the duration of the lease.
  4. Successful leasing executives usually have a substantial database of retail tenants to contact. Any new leasing opportunity can be offered through the database to targeted tenants, anchor tenants, retail specialists, franchise groups, and other industry professionals. Any vacancy can be directly marketed to these groups through cold calling, direct contact, e-mail marketing, and direct mail.
  5. It is acceptable and normal to market a vacant tenancy through the generic media. That will involve newspaper advertising, and Internet listing. There are costs associated with that marketing activity and the landlord should contribute towards those costs.
  6. Most successful leasing transactions occur through the involvement of the leasing executive and direct marketing to the right people. I go back to the point that the database for each broker or agent is quite important to converting more commissions and listings.

It should be noted that any quality property in a good location will create good inbound enquiries. If you are selective with your property appointments and vacant tenancies, you will create more churn and activity in property leasing.

Showing Leadership in Your MBA Application

When faced with any iteration of the leadership question on MBA essays, many business school applicants freak out because they think they have to come up with an example that is their greatest life or professional achievement. In reality, it's not about grand gestures or formal leadership titles. The goal is leaving a footprint on whatever situation you're in and doing more than a good job.

Applicants need to think through their past experiences to find the episodes that best justify their leadership skills. Sometimes, the best examples are not the first that come to mind.

Your leadership essay will often be different from an "accomplishment" or "achievement" oriented essay. Just because you achieved something outstanding does not always mean leadership skills were involved, especially if you did most or all of the work.

One of the central tenets of leadership essays is showing that you can galvanize the actions of other people. You bring out their passions. You educate them. You help them see organizational priorities in new ways. And then they share in the achievement.

The work of a leader activates or improves the work of others, so find anecdotes in your professional and extracurricular background that illuminate this kind of pattern.

What kind of experiences will make the best tales of leadership? Think about challenges where the following came into play:

• Identifying / clearing a problem

• Resisting conventional approaches; challenging status quo

• Marshaling resources to address a problem

Motivating others

• Making good use of others' talents

• Being open to new information and input

• Building consensus with appropriate stakeholders

• Guiding strong mid-course corrections; overcoming mistakes

• Building on success

Remember: Leadership is not just about the titles. Some candidates build their leadership essays around the fact that they were selected for or elected to certain positions where they had a high level of authority and responsibility: editor-in-chief of a college paper, fraternity president, captain of the hockey team, director of product development, or vice president of marketing.

But what did you do with this position? An editor of a college daily could write about how he or she was constantly challenged to maintain high levels of editorial excellence, manage staff assignments, and hit all deadlines. This is definitely an esteemed position with many responsibilities, but if you describe your role like that, it sounds exactly the same as the other hundreds of editors-in-chief of college papers also applying this season.

Define the leadership challenges you faced, not the management ones. Did you have to deal with a certain writer who falsified interview notes? Was there a sticky campus scandal that forced you and your staff to walk an ethnic tightrope? Did you have to fire student editors? Did you lead a transition from a weekly to a daily with all of the scheduling and human resources rigors that entails?

Collecting impressive titles does not make someone a great leader-helping a team over great challenges does.

The strongest leadership essays will have heroes other than yourself. If you assisted Terri in accounts receivable realize her full potential on a project you led, showcase her as a hero in your leadership tale.

In the best possible scenario, applicants should map out a good balance at the beginning of their application process between achievement-oriented essays and those focusing specifically on leadership. The good news is that, in many instances, you can still adjust your application fairly late in the process to achieve the appropriate balance between individual achievement and leadership.

Adding in a few sentences about enabling others, or educating and clearing priorities for group endeavors, will go a long way towards rounding out your profile. Many achievement essays can be transformed into glorious examples of leadership when you shine the spotlight on others who were a part of a great collective accomplishment.

Do not forget that leadership is never a solo effort. When it comes to MBA essays, you can not go wrong if you show how you've worked to inspire others and bring out the best in them.

IELTS Exam Preparation Tips: Academic Writing Paper Part 2

The IELTS exam is the most widely used English test in the world. It is used as an admission test for schools, colleges and universities as well as a screening test for job applications and immigration. It comprises of Four papers: Speaking, Listening, Reading and Writing. This article will focus on Part 2 of the Academic Writing Paper.

The ability to write effectively in English is essential for success in your studies and the academic writing paper includes activities similar to those you will use in your studies at boarding school or university: Analyzing & Reporting data and Essay Writing. The IELTS Writing Paper lasts one hour and is split into two parts: Part 1 – Describing Graphical Data and Part 2 – Argumentative Essay Writing.

Writing Paper Part II Tips

  • Read the question carefully before you start. There are frequently two parts: a general, background statement and a more specific topic question based around that. Ensure that you answer the question and don’t just write about the background issue.
  • Manage your time: You should spend 40 minutes on this task and only 20 minutes for Paper I.
  • Spend 3 or 4 minutes to plan your answer before you start to write.
  • Do not copy the question word for word. If you do so then the words will not count and you may be penalized (see next point).
  • Write at least 250 words. You will be penalized for essays that are less than this so check the word count carefully. Do not write more than 280, however, or again you will be penalized.
  • Use a range of vocabulary and do not repeat words. Use synonyms instead
  • Choose formal words rather than simple ones: For instance use purchase instead of buy.
  • Organize your work properly with correct paragraphs: An introduction (40-50 words) followed by two or three body paragraphs (160-170 words) and a clear conclusion (about 40 words).
  • Use a range of grammatical and sentence structures and include a couple of complex sentence structures to show the examiner your understanding of English.
  • Write cohesively: Link sentences and paragraphs so that the meaning follows on. However, do not use too many conjunctions so that your writing becomes repetitive.
  • Proofread your writing at the end, You should allow 5 minutes for this.

The best way to prepare for your IELTS Exam Writing Paper is by taking an IELTS preparation course with an expert IELTS tutor. In this way you can get guidance and help in order for you to improve your writing skills quickly and get the test score that you need.

Billiard Supplies – Five Accessories You Need For Your New Billiard Table

You’re about to break in your new billiard table. So far, you have invested in cues and balls in addition to the table. Depending on how advanced or amateur you are, you may need a lot or you may not need much at all.

Here are some items that you will need to help your game be more effective and keep your table in good condition:

o Billiard Cloth – Also known as felt, this is what is put on top of the table to help the balls flow smoothly. The cloth used on the table should be of good quality so that the balls can have a smooth roll across the table after each shot. This makes for good accuracy in the hole while playing.

A good quality cloth will stand until the test of time. It will not be subject to scuffs, tears and other damages. Billiard players will enjoy the game more when they know that they’re playing on quality material.

o Billiard Racks – These racks are triangular and diamond shaped. They are used to rack up the balls prior to a billiard game. For the most part, the triangular shaped one is used more often. They are the ones that most people are used to seeing.

They are used for different games of pool, such as eight-ball, one pocket, bank pool, straight pool, snooker and other billiard games. Diamond racks are usually reserved for nine ball games.

o Brush – A brush is needed to maintain the condition of your pool table. It is a great accessory to a pool table and it is not costly. The best kind of brush to get is one that is manufactured from horsehair.

A billiard brush can increase longevity of the table felt. The cloth stays smooth and any chalk residue is brushed away. People that have sensitive skin may not benefit from having this type of brush. The chalk or talcum residue combined with dirt and moisture, can trigger itching hands.

o Pool Table Covers – You must have a cover to protect your investment. Pool table covers are used to protect your table from dust, moisture, humidity. A cover is imperative because it also protects your table from spills and unnecessary damage when it’s not being used.

You must get a cover that is sized right and fits correctly. In order to do that, you will have to take measurements. If you want a cover that provides durability, that’s something to consider. You don’t want a cover made from flimsy material and having to replace it sooner than you want to.

o Rail Rubbers – Rail rubbers or cushions, as they are called, are located on the sides of your playing area. They are used so that the ball can rebound off of them and not get away from the table.

There are other accessories that you can do without or that you don’t need right away. However, the ones just mentioned will help you to have a better game of billiards.