LINC Commercial Realty Founder Najdi Rafaty joined a panel of real estate experts from CREW Dallas at a recent UT-Dallas event. Dubbed “Let’s Talk Development,” the informative case study allowed students to learn more about the step-by-step process of urban real estate development projects from some of Dallas’ leading professionals.
Arden Pray, the VP of the UTD Real Estate Club who is also part of the LINC team, hosted the two-hour event. It was conducted virtually due to COVID-19 social distancing requirements. During the segment on the commercial leading process, Rafaty discussed how she and her team would approach a new project.
“Our first priority would be to discuss the landlord’s goals because I think one of the most important things is to see what their objective is and to be able to define the highest and best use tenant mix,” she said. “I think a project, in order to be successful over the long run, it has to have a good tenant mix, something that makes sense for that area and environment.”
According to Rafaty, achieving that long-term success requires hours of intensive detailed research to elicit the most useful information. Based on that information, LINC would then be able to develop a leasing plan on who to target and what kind of retailers meet with.
The relationships LINC agents have built with various contacts over the years ensure that they will be able to get in the door and begin those discussions. She told students that sleek marketing is great, but it won’t close a deal by itself. Agents must go above and beyond to meet their objectives. Negotiations can be intense, but those who work hard and use effective techniques will come out on top more often than not.