As I have been selecting sites so that my clients can review and parse through to find the ultimate space for themselves, I have found that there are new ways of going about this old skillset.
What are the old ways you ask?
For starters, there is the basic criterion that needs to be established: Geographics, demographics and psychographics, etc.
Second, there are level one criterion: Size, shape, co-tenants (if any), traffic counts, egress and ingress, etc.
Third, there is the cost structure: length of term, price points, needs and wants, etc.
From there, a good broker would be able to discover a vast amount of sites for their client. The client then can have the ability to review them and pick and choose the top five or so. Next step is to take a tour and decide on two maybe three locations to pursue.
Next generation calls for a ton of information to be found on the internet. The list from above can be sorted fairly quickly with use of the information now stored and entered on the internet.
From this new vantage point, a broker can utilize their time appropriately and go out and gather more business. This is where the ‘new’ game comes into play. Instead of spending the majority of your time trying to close the deal, the broker can now spend more time where it matters most – filling the pipeline!
The new way of site selection can be very educational as well as rewarding to all parties involved. Where hours upon hours used to be spent in the car driving areas to find the best location, it can now be done virtually from anywhere.