They also bring full knowledge of the market and will work for you to get a fair deal. This is one of the ways to get leverage in negotiations. Even if you study and stay aware of the market, their knowledge covers a longer amount of time. That knowledge can be used to lower the price of the space if it is too high. A broker will know which buildings are available in your area and at your price before you start the search. This type of knowledge will shape early communications and negotiations with the owner or their listing agent. Their company may also spend money on proprietary reports monthly on market data. That’s how well informed they are. You don’t want to negotiate against another professional without them as a resource. Time and time again, I’ve seen brokers bridge gaps between parties in negotiations and strike a deal that is not only at market value, but that each side is excited about.
A BROKER WILL MAKE SURE YOU HAVE FALLBACK OPTIONS
This is because they are professional negotiators. They know you have to have a fallback option to create real leverage to go with the going market rate. Plus, you never know when and how a deal can fall through. Without a fallback option, you may be stuck in your old space and holding back your company. You may have to take tempoary space, killing any leverage you had. A broker will make sure you have a realistic second or even third choice you can see yourself purchasing. They can then use this to negotiate.
LENDING, FINAL PAPERWORK, ESCROW, DUE DILIGENCE, AND OTHER CLOSING
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