How Commercial Real Estate Brokers Can Successfully Work with National Brands Like Whataburger
Working with national brands offers a significant opportunity for commercial real estate brokers to scale their business and increase revenue, especially in competitive urban and suburban markets.
To succeed, brokers must understand how these brands operate, their site selection criteria, and how to streamline communication and negotiation.
Here’s a guide to engaging and building long-term partnerships with national brands, drawing on insights shared by Meghan Michel (Group Manager, Real Estate) with Whataburger.
1. Understand the Brand's Expansion Strategy and Priorities
National brands prioritize site selection criteria that often include factors like accessibility, high traffic counts, and alignment with their target demographic.
For example, Whataburger’s expansion plan is highly strategic: they focus on high-traffic, high-visibility areas where they can draw attention even from customers who are simply passing by. To support this, brokers should:
Familiarize themselves with the target demographics and traffic patterns desired by the brand.
Present properties that align with these goals, like sites near popular big-box stores or busy intersections.
Ensure that the site selection aligns with the brand’s long-term regional goals to increase the chances of securing multiple deals over time.
By taking the time to understand a brand's broader expansion goals, brokers can align their pitch more closely with the brand’s needs. For instance, brands like Whataburger may seek visibility near Costco or Target stores, benefiting from high traffic volume and complementary customer profiles.
Brokers who focus on finding properties that enhance a national tenant’s market visibility and fit within their established zones can position themselves as long-term partners rather than one-off transaction facilitators. This approach is vital because it sets brokers apart as solution providers, not just deal closers.
2. Leverage Local Knowledge and Connections
Large brands value brokers who have deep local knowledge and established relationships with key stakeholders, from landowners to local officials.
A broker's ability to provide market insights—such as upcoming zoning changes, new residential developments, or competitor activity—can make them invaluable partners.
As Whataburger looks to create clusters in new markets, brokers can leverage:
Local knowledge to identify high-potential areas that might not be on the radar.
Connections with local landlords, government officials, and planning boards to expedite deals.
Regional data on traffic and commercial activity, ensuring that the brand's needs for exposure and ease of access are met.
Brands moving into a new region face challenges in navigating unfamiliar terrain, so brokers who know the area’s ins and outs offer a substantial advantage. A broker with an extensive network can secure early access to information about potential development sites, upcoming road projects, or planned competitor locations.
This level of insight helps the broker become a key resource, capable of spotting trends and finding ideal sites before they hit the market. Strong community ties can also streamline the approval processes with city or county planning boards, saving time for both the broker and the brand.
3. Showcase Your Expertise in Managing Complex Deals
Working with national brands often involves navigating corporate bureaucracy and working within a stringent approval process.
Whataburger, for instance, has a corporate process that requires several layers of approval and can take up to five months from initial site identification to signing a lease.
Brokers should:
Clearly communicate the steps and timelines to landlords and other stakeholders to manage expectations effectively.
Avoid over-negotiation; brands appreciate brokers who focus on securing win-win solutions rather than nickel-and-diming at every turn, which could jeopardize the deal.
Demonstrate flexibility and patience, understanding that delays are often due to the brand’s internal protocols rather than lack of interest or commitment.
As national brands juggle dozens (or even hundreds) of simultaneous deals across multiple markets, they rely on brokers to remain patient, organized, and communicative. Brokers who can guide landlords through the often-lengthy process while managing expectations create a smoother path to closing deals.
Over-negotiation can strain these relationships; instead, brokers should focus on achieving a balance that satisfies both sides. This collaborative approach fosters trust, which can lead to further engagement and referrals within the corporate network.
4. Provide Quick, Relevant Information in All Communications
According to Michel, one of the quickest ways for brokers to get on her good side is to provide concise, organized information.
Submitting sites with key details—like precise addresses and property specifics—can make it easier for corporate real estate managers to evaluate and provide feedback quickly.
Brokers should:
Use clear subject lines and well-organized information in emails to stand out.
Offer comprehensive property data upfront, including zoning information, traffic counts, and any recent developments in the area.
Be ready to respond with additional details promptly, as these national teams move through extensive checklists and site assessments.
When competing for attention in a corporate manager’s inbox, clarity and precision are essential. Brokers who streamline information and communicate effectively reduce the back-and-forth typical of commercial real estate deals, helping the brand make timely, informed decisions. In today’s fast-paced environment, where brands constantly evaluate multiple sites, quick and clear communication becomes a crucial differentiator.
Establishing a straightforward approach early on increases a broker's chances of becoming a go-to resource for the brand’s ongoing expansion needs.
5. Help with Site-Specific Needs and Market Education
Whataburger and similar brands may require education and buy-in from landlords and other stakeholders who are unfamiliar with the brand.
Brokers play a crucial role in easing this transition, especially when introducing a brand to a new market.
This can include:
Hosting introductory meetings or presentations to inform stakeholders about the brand, its reputation, and its impact on the community.
Using testimonials or case studies from other successful expansions to showcase the brand's benefits.
Collaborating on adjustments to site-specific aspects, like building orientation or traffic management, that can enhance the brand's appeal to the community.
When a brand like Whataburger expands into a new region, landlords, city councils, and other local stakeholders may need assurances about the brand’s long-term benefits and reputation. Brokers can serve as educators and advocates, building trust on behalf of the brand.
For example, brokers can highlight community benefits, such as job creation and increased foot traffic, by providing case studies or testimonials from other markets. This added effort strengthens the brand's position, speeds up negotiations, and bolsters the broker's standing as a trusted partner with a vested interest in both the brand’s and the community’s success.
6. Build Long-Term Relationships with National Brands
National brands look for consistency and reliability in their real estate partners.
Brokers who build strong relationships by showing integrity, patience, and a commitment to the brand’s needs are more likely to be contacted for future projects.
Steps to maintain these relationships include:
Regularly checking in, even after a deal has closed, to offer additional insights or opportunities that may benefit the brand in the long run.
Attending industry events and engaging with corporate real estate professionals from national brands to stay top-of-mind for new projects.
Keeping up with the brand's evolving needs as they expand and change, ensuring that brokers remain aligned with the brand’s goals in both short- and long-term projects.
National brands value brokers who think beyond one-off transactions, seeking partners who can support their evolving needs. By maintaining regular contact and staying aware of the tenant’s expansion goals, brokers can position themselves as an ongoing resource.
Attending industry events, such as Retail Live or ULI meetings, provides opportunities to deepen connections, making brokers more visible and trusted within the brand's network. This relationship-building is vital in commercial real estate, where established trust can make a broker the first call when a brand is ready to move into new markets or reassess current sites.
Thinking of the Long-Term
Working with national brands requires brokers to go beyond typical transaction-based approaches.
By understanding and supporting a brand's specific requirements, managing complex negotiations with a calm, organized approach, and building lasting relationships, brokers can position themselves as essential partners in these brands' expansion strategies.
National brands like Whataburger are not only looking for prime locations but also for brokers who can facilitate smooth transactions, make introductions in local markets, and advocate on their behalf to create mutual success.
Here’s a guide to engaging and building long-term partnerships with national brands, drawing on insights shared by Meghan Michel (Group Manager, Real Estate) with Whataburger.