Don’t Let a Bad Broker Cost You Tenants | Episode 67: I Own a Shopping Center, Now What?
Description
Handing off leasing to a third party? Don’t let them sabotage your NOI.
In this episode of I Own a Shopping Center. Now What?, I walk you through my go-to process for selecting and managing third-party leasing brokers—especially if retail isn’t your specialty. After a recent call with multifamily investors entering the mixed-use world, I laid out the exact steps I take to make sure brokers are vetted, expectations are clear, and accountability is non-negotiable.
From requiring them to tour comps, to demanding weekly activity reports, to firing (gracefully) when they underperform, I share the playbook that protects your asset and keeps leasing on track. If you’re new to ground-floor retail—or you’ve had brokers ghost you in the past—this episode gives you the checklist you didn’t even know you needed.
🔑 Key Takeaways
- Interview at least 3–5 brokerage firms before selecting.
- Always put expectations in writing.
- Require regular updates and activity reports.
- Make them tour competitive sites and know the market.
- Be willing to fire underperformers quickly.
- Know your asset better than the broker.
- Align broker compensation with results.
- Mixed-use retail requires retail specialists, not generalists.
United States
