Saves You Time
Sure, you could go looking through Google or your local newspaper for commercial real estate. You could also set up a time to walk through each location, pretending to know what to look for. Or you could go to an expert.
In business, you want to monetize your available time, not waste it on things outside your expertise. Don’t squander your valuable time looking for a commercial space on your own. An experienced commercial real estate broker can do the legwork and locate good potential properties in much less time.
Saves You Money
One of the biggest misconceptions holding business owners back from using a commercial real estate broker is the amount of money they believe it will cost them. In reality, however, the landlord typically holds a percentage back specifically for their broker and the lessee’s broker.
Additionally, using a commercial real estate broker also means you’ve got an expert negotiator at your disposal, who can save you money on your lease. They know what to ask for and when to ask for it, which is a talent mastered over years of experience in the field.
Access to Network
Those who regularly deal in commercial real estate know each other. Because they develop professional relationships with one another, you have access to a professional network via your commercial real estate broker. Have a question about a certain office space you heard might go up for rent? Your broker can find out. It’s not just for questions, either. That network can also be the means of brokering you an even better deal, just by association.
Getting emotional about our businesses is normal. When negotiating for space and terms, emotions tend to run a bit high if you have a lot at stake. Landlords can sense a panic and many use it to drive up prices. Commercial real estate brokers take out that emotional aspect. They are able to calmly and rationally discuss your options without showing your hand to the landlord.
Rental Property Past Life
Is the former adult entertainment store down the street now attempting to house a daycare? A rental’s history often gives it a reputation and haunts anyone who rents the building later. Your broker should have a way of figuring out (if they don’t know already) what the building you are looking to rent was in the past. Make sure you are good with the association it brings to your business before signing a lease. You don’t want the public to avoid your company simply because of the previous tenant.
Favorable Lease Terms for Your Business
A competent agent will ask you questions about your trade cycle and other aspects of your business that could be affected by negotiable terms in a proposed lease. An agent will also ask questions that help you obtain lease terms that are favorable to your business. Most attorneys do not do this. No two commercial real estate deals are the same. A great commercial real estate broker will also refer your business to another type of specialist if they lack the expertise in the areas where you need the most help. Be prepared to find the best space for your business with the expertise of a commercial real estate broker today.