Why Use a Commercial Real Estate Broker?
Navigating the commercial real estate market can be daunting and overwhelming, but having the right representation can make all the difference.
Here are six reasons why hiring a commercial real estate broker is essential and can save you money, time, and stress:
- Saves Money
Did you know that tenants who are unrepresented end up paying an average of 15% more than those who work with an exclusive broker, even within the same building? Brokers have access to important information such as lease rates, tenant improvement allowances, and other concessions that enable you to compete with others in the market and negotiate better lease terms.
- No Cost
Clients may hesitate to use a broker because of broker fees, but the good news is that commissions are paid by the landlord, so there are no out-of-pocket expenses for you.
- Saves Time
An exclusive broker already has knowledge of all available properties, which saves countless hours searching and driving around. They also fully understand the business and can translate information to you in ways that even hours of Google searches cannot. Your broker will handle all data gathering, proposals, and negotiating of contracts, which relieves you of those tasks.
- Streamlines the Process
Brokers will assist your company in defining what your requirements are for a property and coordinate site selections, evaluate offers, and run financial analyses to help you make the right decision.
- Strengthens Negotiating Leverage
Having an agreement with a broker can increase your negotiating leverage when making an offer. Landlords will be more aggressive with terms when the experience of a broker on your side is not acting like a buffer.
- Minimize Company’s Exposure
Brokers represent your best interests and can help minimize or avoid problems that can occur down the line from a poorly negotiated lease.
In conclusion, hiring an exclusive commercial real estate broker can save you money, time, and stress. Brokers have the necessary knowledge, expertise, and connections to ensure that you get the best possible deal on the right property for your business. They can streamline the process, strengthen your negotiating leverage, and minimize your company’s exposure to potential problems. Don’t navigate the market alone, let a broker be your guide.