Start your search to lease space
Is it time to start your search to lease space? It may be time to expand your existing operation or find a better a location for your business. Where do you begin? Driving the market looking for real estate signs is not an effective use of your time nor your employees’ time. Not all available properties are advertised with a real estate sign. You might believe that the internet is the next best option but you’d be surprised how many multiple listing services there are for commercial real estate. Not all brokers advertise their listings on the internet and any free versions of searchable commercial real estate listing sites only display the basic search results. The results of your search on these free sites is far from a comprehensive list of all available options from which you need to make an important real estate decision.
It does not cost extra money to receive the benefit of hiring a professional to represent you.
The landlord is represented are you?
Real estate landlords are savvy investors. They know their property well and have accounted for every possible expense and factored those expenses into the asking rental rate. Real estate commissions are part of the equation and landlord’s know and understand they are going to pay real estate commissions. Landlords hire brokers to represent them and offer their space to the market. The landlord’s broker is negotiating with the landlord’s best interest in mind. The landlord’s broker will work to negotiate the longest possible lease term with the highest possible rental rate and won’t mention the possibility of the landlord giving any type of concession, free rent, moving allowance, etc.
What type of concessions are you going to negotiate from the landlord?
A tenant representative is an advocate for the tenant. They work to protect the tenant’s interest while negotiating a lease. Tenant representatives work on an exclusive basis with a written representation agreement. The first real cost savings a client can realize is in the form of time savings. As mentioned before, driving the market may not produce the best available locations available for lease. After an initial consultation and armed with some basic criteria a tenant representative can search and present a comprehensive list of promising options. The detailed space information is presented in an organized format to the client. From the information the client is able to short list several possible locations that could be investigated in day of showings.
There are many benefits you will receive when you decide to hire a tenant representative. The real cost savings can occur during the negotiation process when the tenant representative works to identify concessions to your advantage while eliminating terms and conditions that go against your economic best interests.