Top 4 Things to Know When Selecting A Commercial Real Estate Broker
Finding the right commercial real estate broker is just as important as finding the right office and lease. It’s the most assured way to get everything you want at the right price and be protected. You can’t rely on experience alone when choosing a broker. Here are the top 4 things to know when selecting a commercial real estate broker.
- Is their approach tailor-made to fit your needs? Your goals and objectives are unique, so your broker’s search should be unique, too. Your broker should use all his or her resources along with an extensive and specific set of questions that determine your vision. Attention to detail will make all the difference when it comes to long-term satisfaction.
- Are they championing for you? What is the overall effort your broker is making on your behalf? Some ways your broker should go above and beyond: help with corporate planning, offer maximum market exposure, find creative solutions to problems, and persevere to ensure he or she is your advocate. Additionally, his or her fiduciary responsibility should be solely to you.
- How do they negotiate? Negotiation is an art, and it doesn’t end with price. An experienced broker will negotiate terms like renewal, repairs, enhancements, and more. Your broker should consider every little detail of your business to determine the final terms of your lease agreement. At the end of the day, you should have a document that lets you breathe and grow, not act as handcuffs. Furthermore, if it takes until midnight to complete a successful negotiation, that’s what your broker should be prepared to do.
- What resources do they use? Your broker’s access to resources is an invaluable asset. Smart brokers will have access to studies that keep you informed of available space and facilities, as well as projected conditions in the market. They will analyze these conditions on your existing or forecasted space requirements. Commercial real estate brokers like Results Real Estate utilize architects, engineers, accountants, legal counsel, building managers, city planners, government agencies, researchers, the CIMLS, and other internet tools to carefully and completely analyze your company’s project. The right broker will back his or her work with a team of industry experts.
The more experienced a commercial real estate broker is, the more likely he or she will be able to meet everything listed above. Your broker should have literature that lays out everything he or she can do for you – check that the approach is detailed and thorough.
Not sure how to find such a broker? Results Real Estate delivers all of the above and more. Their custom analysis is so complete that once they start the site selection process, their clients usually select the first or second property that they inspect. Contact Arnie or Anna today:
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