How do I find reliable landlord representation firms for retail leasing in a secondary market?

To find reliable landlord-side representation firms for retail leasing in a secondary market, focus on firms that can prove they know local retail demand, tenant mix, lease economics, and the brokerage relationships that actually move deals in that market.

1) Start with the right screening criteria

Look for firms with:

• Direct experience in retail landlord representation
  Not just general commercial brokerage, but specifically shopping centers, strip centers, neighborhood centers, mixed-use retail, and pad sites.

• Local market depth
  In secondary markets, local relationships matter a lot more than brand name. You want brokers who know:

  • active tenants looking in the area
  • realistic rents and TI expectations
  • competitive centers
  • vacancy trends
  • retailer expansion patterns

• Comparable property portfolio
  Ideally they’ve leased properties similar to yours:

  • class A/B/C retail
  • grocery-anchored centers
  • unanchored strip centers
  • downtown retail or lifestyle centers
  • small-shop leasing

• Tenant rep relationships
  Strong landlord reps usually have ongoing relationships with tenant reps and local retail chains.

• Track record in slower or less liquid markets
  Ask how they lease in markets where national tenants are more selective.

2) Search in the places where the best brokers show up

Useful sources:

• CoStar / LoopNet broker profiles
• CREXI
• Local ICSC membership directories
• State or regional commercial real estate associations
• Chambers of commerce / economic development groups
• Retail tenant rep brokers in nearby primary markets
• Ownership groups’ transaction announcements
• Property management firms with leasing arms

In secondary markets, some of the strongest leasing reps are at:

• local boutiques
• regional full-service firms
• property management companies with strong leasing teams

3) Shortlist firms based on measurable proof

Ask for:

• Current landlord assignments
• Recent retail leasing deals in the market
• Average time-to-lease
• Occupancy change under their management
• Leasing velocity for comparable assets
• Examples of rent improvements or better tenant mixes
• Marketing materials they produced
• Vacancy strategy for hard-to-place space

A good firm should be able to talk about:

• how they price space
• how they handle smaller tenant bays
• how they reposition weak centers
• how they market to local and regional users

4) Interview the actual broker, not just the firm

A large platform can look good on paper, but the deal is driven by the specific broker. Ask:

• How many landlord retail assignments are you actively working?
• What retail tenants are expanding in this market?
• Who are the top tenant reps you talk to regularly?
• Which properties are you leasing now that are similar to mine?
• How do you generate tenant demand beyond LoopNet?
• What is your strategy for vacant space that has sat 6+ months?
• Who on your team handles marketing, tours, and lease negotiation?

You want someone who can clearly explain the leasing plan, not just say they “have a big network.”

5) Watch for red flags

Be cautious if they:

• primarily do office/industrial and “also do retail”
• cannot name current retail tenants or tenant reps in the market
• overpromise rent or occupancy levels
• have no recent comparable deals
• rely only on listing websites
• do not have a clear marketing and outreach process
• avoid discussing how they handle hard-to-lease space

6) Check references the right way

Ask for references from:

• current landlord clients
• property managers
• asset managers
• developers

When you call references, ask:

• Did they proactively generate tenant interest?
• Were they realistic on pricing?
• Did they communicate well?
• Did they bring quality tenants or just any tenant?
• Would you hire them again?
• Did they improve the property’s tenant mix?

7) Compare fee structure and exclusivity carefully

Typical items to review:

• commission rate
• term of listing agreement
• renewals / expansions / kicks
• co-broker policy
• termination rights
• marketing reimbursements
• reporting obligations

In a secondary market, you want incentives aligned with quality leasing, not just filling vacancy quickly.

8) Best practical approach

A strong way to find the right firm is:

1. Make a list of 10–15 local/regional firms
2. Narrow to 3–5 based on retail leasing track record
3. Interview the specific brokers
4. Request deal sheets and references
5. Choose the broker who knows your asset type and tenant universe best

9) Simple rule of thumb

For secondary markets, the best landlord rep is often:

• local or regional
• highly retail-focused
• well connected with tenant reps
• strong in execution, not just branding

If you want, I can also help you with:

• a broker interview scorecard
• a list of questions to ask landlord reps
• or a template RFP for selecting a retail leasing firm.