You Need a Tenant Rep Broker: Here’s Why
When searching for a commercial office space to lease, you should engage the service of a tenant rep broker. They lessen the struggles of finding the office space that meets all your company needs.
Here are the top 8 reasons why you should hire one:
Here are the top 8 reasons why you should hire one:
01.
They Understand the Market
It is challenging to determine whether you’re getting a fair deal from a landlord if you don’t have an accurate understanding of the market. A tenant rep broker can provide you with data to help you see how an offer measures up against current market rates in the area.
02.
They Can Show You Hidden Commercial Space Opportunities
Many office spaces are leased before they are advertised to the general public. Tenant rep brokers have a relationship with landlords, so they can help you gain access to places that you may not have considered. Most often, these are highly sought office spaces. Experienced tenant rep brokers have worked with many corporate tenants in the past, so they know those who are not renewing their leases. Hence, they may be able to secure you an office space they know and give accurate information based on the previous tenant experience.
03.
They Can Help You Establish Your Needs
With some experience in the bag, tenant representatives know the right questions to define what kind of office space will be ideal for your company. After a meeting with your tenant rep broker, you may find that your primary idea of a perfect office might not be the best fit for your company after all.
04.
They Can Offer Professional and Expert Advice
During the search or the negotiation process, you might have some questions to ask about choosing the ideal office space. A tenant rep broker can offer advice on everything related to this.
05.
They Provide an Edge During Negotiations
When you have a tenant representative beside you on the table, you’ll have an extra advantage during the negotiation process. The tenant rep broker will argue in favor of your company and help you engage the prospective landlord. A broker can also point to you the right time to agree or when it would be better to walk away from a deal.
06.
A Tenant Rep Broker Won’t Cost You a Dime
The tenant representative’s fee is taken care of by the landlord, not your company. Because of this, you can enjoy all the benefits of having one on your team during the search and negotiation process without altering your budget.
07.
They Help You Read the Fine Print
Commercial leases are very complicated, long documents, filled with things you might not understand properly. A tenant rep broker can read the fine print and see clauses that could be problematic in the future.