Job Title
Leasing Executive
Job Description Summary
The Leasing Executive role is a negotiation expert in the field of commercial real estate across office, retail and industrial asset types. The Leasing Executive will work closely with the client/landlord/s and the Leasing Executive/s to ensure favourable market transactions are achieved whilst supporting the operations of the Integrated Portfolio Management – Transaction Management service line for Cushman & Wakefield on behalf of the client. This role is geographically specific and a property market expert within their region who negotiates on behalf of one or multiple client portfolios.
Job Description
1.1.Job Purpose
The purpose of the Leasing Executive role is to strategically conduct negotiations of lease renewals, surrenders, make goods and market rent reviews. The Leasing Executive will source and negotiate any new site requirements, liaise directly with the client during the negotiation process and regularly update Leasing Executive/s on outcomes and local market trends to ensure the best possible transactions outcomes are achieved
1.2.Accountabilities
Key Result Area
Major Activities
New Sites
- Review initial market brief and conduct detailed research
- Conduct an RFP/EOI process, if required
- Site inspection/s and client review
- Negotiation to reach Heads of Agreement and finalise lease documentation
- Data to Lease Administration team and update Senior Leasing Executive and TM lead
Site Renewals
- Review updated lease information and critical dates
- Review market evidence and prepare alternative options to present to client, if required
- Engage with Leasing Executive and Integrated Workplace Solutions where required
- Conduct site inspection/s
- Negotiate Heads of Agreement
- Data to Lease Administration team and update Senior Leasing Executive and TM lead
Exercise of Option
- Review market evidence and prepare alternate options to present to client, if required
- Conduct site inspection/s
- Negotiate terms for more favourable terms, where required
- Exercise Option post final client approval
- Data to Lease Administration team and update Senior Leasing Executive and TM lead
Make Good
- Confirm make good requirements
- Request make good scope from Lessor for review (if unclear within the lease) or alternatively provides scope to Lessor (if clear within lease)
- Negotiate make good scope
- Liaise with Facilities Management/Projects team/s for input into quotes based on agreed scope
- Update client and seek approval for quote/works
- Negotiate with lessor for cash settlement
- Advise Client on outcomes
- Inform Lease Administration team for site termination, update Senior Leasing Executive and TM lead
Market Review
- Review updated lease information and critical dates
- Check notice validity and liaise with client on findings
- Enact/review notice of provision
- Conduct strategic analysis of covenants, building and market evidence
- Prepare market evidence
- Negotiate market review
- Advise Client on outcomes
- Data to Lease Administration team and update Senior Leasing Executive and TM lead
New Revenue Tenant Search
- Initiate enquiries with owner/lessor/managing agent
- Liaise with agents to obtain proposal if required
- Seek client instruction and appoint agent
- Enact marketing plan/proposal
- Negotiate with client and agent if required
- Seek instruction from client to proceed
- Data to Lease Administration team and update Senior Leasing Executive and TM lead
Surrenders
- Review current lease and validate key terms
- Initiate enquiries with owner/lessor/managing agent
- Negotiate surrender date and payment
- Seek instructions from client to proceed
- Data to Lease Administration team and update Senior Leasing Executive and TM lead
General Responsibilities
- Articulate and live the Cushman & Wakefield culture, model organisational values and required behaviour and hold others (employees and peers) accountable for their actions by identifying and acting on behaviour which is inconsistent with agreed standards
- Comply with all Cushman & Wakefield systems that are in place to meet the health and safety obligations of the organisation
- Work safely and avoid placing yourself or anyone else’s health and safety at risk by your acts or omissions
- Comply with Cushman & Wakefield Environmental policies and adhere to procedures and work instructions that are relevant to your activities
- Operate in a manner that will minimise any adverse environmental impacts associated with your activities
- Actively participate within a community of practice group within Global Occupier Services by sharing information and strategies that result in the best outcomes for the client and Cushman & Wakefield
- Understand the Cushman & Wakefield brand and expertise of services delivered to ensure all opportunities to provide a full-service offer to clients is available
- Regularly engage with the Cushman & Wakefield CRE team to leverage their knowledge
- Comply with Cushman & Wakefield delegations policy
1.3.Background and Experience
- Minimum 2-3years’ experience in transactional leasing within commercial real estate
- Strong experience in successful property and leasing negotiations
- Strong market knowledge within given geographical area
- Demonstrated ability to work, interact and communicate effectively with stakeholders at all levels and build positive, lasting professional relationships
1.4.Qualifications & Technical Skills
- Tertiary qualification in real estate or a business-related discipline preferred
- Real Estate Agent License or Agent’s Representative (or equivalent depending on state legislation)
- Qualification or accreditation in Advanced Negotiation skills desirable
Occupation specific capabilities:
- Problem Solving
- Financial Acumen
- Business Writing
- Presentation Skills
- Communicate Effectively
- Influencing Skills
- Negotiation Skills
- Client Experience Management
- Systems & Data Management
Organisational Core capabilities:
- Best Thinking: Strategic Thinker, Thought Leader, Commercial Awareness
- Best Results: Delivers Extraordinary Results, Leads through Change, Inspirational Leadership
- Best People: Customer Service Excellence, Grows Self & Others, Collaborates with Others
As an equal opportunity employer, Cushman & Wakefield encourages Aboriginal and Torres Strait Islander and female candidates to apply. Cushman & Wakefield promotes safety at all times.
INCO: “Cushman & Wakefield”