What To Expect
For Firms With Extra Offices For Rent
For Tenants Looking For Space In Larger Firms
ADVERTISERS WITH EXTRA OFFICES
often expect instant results – thinking that the day they place an ad the world will respond to them immediately. Unfortunately this is not how it works – and we’ve been watching the process for 7 years. Once a listing is published we very rarely see a high volume of calls. Most likely, you will only get a few responses each month – but the beauty of responses through out system is that they are for a large part “warm leads” – because we’ve provided so much information about your available offices that most respondents are generally very interested to start.
The exception to the rule is the “bottom fisher” who will troll through the listings looking for a bargain – not a lot of them, but about 9%-10% of the inquiries involve people who are “just fishing”. In that this is a relatively small percentage, it doesn’t really affect things that much, but we mention it in the interest of transparency.
Sometimes, you won’t get any calls in a particular month – it happens. The responses are entirely dependent on who is looking for space when your ad is running. There are weeks when nobody is looking for what you are advertising – and you simply have to remain confident that your bait is on the hook and when your fish comes along you can expect a nibble.
Very often I’ll get a call that sounds something like: “I’ve only gotten 4 calls in the last 3 months”…(and I hold my breath)…BUT WE RENTED ALL 6 OFFICES, Thank you very much!” Literally, that happens frequently.
On the other hand, we’ve seen times when after 2 months or so there haven’t been any calls at all. It happens.
But, we do see plenty of times when offices get rented in the first week – and even on the first day.
So the truth is that there is no regular, consistent path to renting your offices to other professionals because the demand is not constant and really doesn’t fit any easily ascertainable patterns. There is an element of randomness to the subject – but we do know that better listings perform more successfully than others.
A “better listing” will include a description that is at least 250 words in length. It will have a title that distills the essence of your offering and will include an array of photographs of your offices and shared common areas. You can include up to 20 “highlight” tags under the text description from our list of amenities and attributes – and the listing grid on every full page ad will encapsulate all of the basic information about your offering. Note, there is no limit to the length of your description or the number of photographs you provide. If you make an effort to really lay out what you’ve got, you can expect a healthy response. If you don’t take the trouble – and just slap it up like a classified newspaper ad – you should expect a return similar to your investment of time in crafting the listing.
We’ve given you all the tools – but the result depends on some degree to your own creativity and ability to describe your offices in a way that will make them stand out and be desirable. And of course, we are always available during business hours with free technical and creative support to help you craft your ad – if you are willing to take the time to do it correctly.
TENANTS LOOKING FOR SPACE
who are interested in renting professional offices in a larger firm or practice are in the right place. Our website offers a local inventory of individual professional offices for rent in (and near) major cities throughout the U.S. This is for the most part a “live” inventory of offices that are vacant and available for rent immediately – so when you make an inquiry or inspect someone’s offices, their expectation will generally be that you should able to move in to new space within a short period of time. Because of the immediate timing associated with much of our inventory you generally won’t find a sublessor or licensor willing to “wait” more than 60 days for your occupancy – so plan accordingly.
Our platform will give you all of the information you need to execute an effective search for new offices.
First, we give you all of the contact information for the advertiser within appropriate professional firms or practices. We sort the offerings according to the professional orientation of the sublessor as follows:
LEGAL
- Admiralty/Maritime
- Bankruptcy
- Business/Corporate
- Civil Rights
- Criminal
- Entertainment
- Environmental
- Family
- Health
- Immigration
- Intellectual
- Property
- International
- Labor/Employment
- Military
- Personal Injury
- Real Estate
- Tax
TAMI
- Technology
- Advertising
- Media
- Information
FIRE
- Finance
- Insurance
- Real Estate
HEALTH
- Medical
- Dental
- Psychology
- Physical
- Therapy
- Alternative Medicine
If you pay attention to the listings you’ll see that offices are advertised as “Available To: ______”. This will indicate “All Professionals” or a specific professional, depending on the requirements of the sublessor. For example, a Law Firm could indicate that their space is available to: “Attorneys Only” or “Attorneys & CPA’s” or “All Professionals”. And in some cases a listing might indicate a sub-specialty that is not welcome for competitive reasons. Either way, we try to spell it all out for you so that when you respond to an advertisement on our website you know exactly who you are talking to and exactly what they are offering.
The website is fully provisioned for the “do it yourself” personality that feels they are more than qualified to promote their space themselves – but not everybody feels that way. Accordingly our professionals are available to help you on a “Success Fee” basis, whether you are looking for space or seeking to sublease your extra offices to others. Just call and our licensed professionals with a deep experience renting and promoting individual offices will be happy to help – or even just offer you some free advice. We are here to help you rent offices.
For further information about the reach and effectiveness of this service, please call us at (212) 986-9100. Ask for Neal Lerner and you’ll get a good feeling for what it is like to be properly represented in the rental or licensing of individual professional offices in shared office space.
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