you know that? • Do you have the proper documents ready for use? Do you have experience writing them? There are no set contracts as for residential ones, so could you write out a full “Letter of Intent” or lease that is specific for my company? • How familiar are you with the leasing prices in the area? Do you know what the price per square foot in my area is going for? Do you know the difference between a net and gross lease? • Are you a member of any commercial real estate organizations? The best real estate professionals (in residential or commercial), only work on one side and are experts in their area. It’s too much to do both and master each side. Residential sales are usually based on emotional moments. Commercial sales and leases are all done to eventually make a bigger profit and improve a company. Besides the technical aspect I’ve mentioned, this makes negotiations much more bottom-line driven. Commercial agents rely on numbers, software that produces those numbers, and their market knowledge to get that done. You can’t dive into commercial leasing without training and a deep understanding of all the terms, the variables of the lease, and eventually the buildout. This requires a good amount of math, done on the spot at times, to price out square footage, building costs, and everything else. Those scenarios won’t be familiar to residential realtors when a quick answer is needed.
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