Commercial Real Estate Book - Leasing Book Preview

person you’re negotiating against.

THE LANDLORD PAYS THE COMMISSION, YOU OWE A BROKER NOTHING

This has to be the biggest reason to work with a tenant representative. It doesn’t cost you a single dime. The broker is paid by the owner or ownership group at the end of the deal. In most leases, the landlord is prepared to pay the commission fee. That’s why they could entice you to not use a broker. It will save them money but leave you vulnerable for a worse lease. Hiring a broker also lets landlords know you are serious. A coveted office owner may not care about saving money on the commission fee, he may just want to get a tenant as soon as possible, with no hassles. With no broker, they may be slower to return emails and calls. At no cost to you, you become a true candidate in the eyes of landlords.

YOU MAY ONLY THINK YOU KNOWWHAT YOU NEED

When you go into this process with your vision, that’s before you get your company’s needs analyzed by a professional. The broker may have a completely different idea than you do, and it could be better for the company. They’re experts at this and could even recognize needs you didn’t think were there. I’ve seen many examples of business owners improving or changing their vision after getting their needs analyzed by a tenant representative. Brokers know about aspects that prospective tenants aren’t aware of. They also know how to balance your future needs with your current needs. A great broker will help you look at what you need beyond the transaction. They’ll help you get the best amenities

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