GP's : Thoughts on in-house leasing vs. brokerages?
Can anyone speak to the feasibility and/or efficiency of taking leasing in-house at a REPE GP, as opposed to using an army of leasing brokers? We are looking to cut costs in the form of leasing commissions. It sounds like a good idea but I don't know the bandwidth or skill that'll be needed to successfully pull it off and eventually build an entire division dedicated to leasing (we already have in-house PM and maintenance, so vertical integration is in our wheelhouse).
And I'd love to hear any tips on how to, as an owner, market your own properties, negotiate with your own tenants & prospective tenants... basically how to replace everything a broker would do. TIA
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