Leasing flexibility and how to manage the growth of onboarding and serving new customer demand

01 September 2020
By: Marianella Watman

Growth in short-term leasing shows no sign of slowing down, as large format landlords move to actively embrace the concept.

The trend is being driven, especially in the retail and office sectors, by businesses that want flexibility, to move into new markets or to expand quickly.

Flexible deals are no new concepts for retail owners. They have traditionally offered them via casual mall leasing deals but as new business models flourish and more flexible stock, the seamless customer onboarding process, a term not used in real estate will become more important than ever before.

From Lead-to-Lease, how do you on-board a customer in Commercial Real Estate Deals?

While the term 'customer onboarding' sounds like a separate part of the business and it doesn't quite fit in real estate, it is actually fundamental to providing excellent customer service and the retention it can breed. In a competitive, tenant-centric culture, where tenants expect perfection all the way and the increase of spaces options, the onboarding process can give your property the edge it needs to reduce customer churn for maximum profitability.

Simply stated, customer onboarding is the process organizations use to take on new tenants. It's the way a company explains how their product or service works, the value of their solution, and the ways you work with tenants. An intrinsic component of excellent lead-tenant service, onboarding is the first step in the tenant journey. If well-executed at every touchpoint from the first contact to signing the deal and thereafter, it can be the beginning of a long and fruitful relationship.

What about the customer onboarding in real estate? Most people begin their search online these days, but the "Send your Enquiry" is a manual process which the tenant works with a leasing manager or agent to settle on a space. This offline and high-touch process can open up a lot of broken customer experience as you are relying on humans to constantly keep the flow of conversation and keeping the lead informed of the process. The grey area is an accepted part of the real estate process - but does it have to continue to be this way?

Creating a Seamless On-boarding Experience

Creating a seamless on-boarding experience from the first "Send your Enquiry" to payment, move-in/out needs to be transparent and well informed. No software platform has automated and streamlined the end-to-end marketing, leasing, and transaction for an available space - until now. The Spacebook Platform has been designed to reduce complex high-touch processes by digitising and streamline the end-to-end customer on-boarding process from taking a lead-to-tenant, paperwork, online transactions and moving in/out process.

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