WHY HIRE A TENANT’S AGENT WHEN YOU LEASE COMMERCIAL REAL ESTATE SPACE? BOTTON LINE: YOU HAVE A BETTER CHANCE OF GETTING THE BEST DEAL POSSIBLE! BUT YOU HAVE TO DO YOUR HOMEWORK AND CHOOSE THE BEST AGENT.
THE EIGHT TOP REASONS TO HIRE A PROFESSIONAL WHEN LEASING COMMERCIAL REAL ESTATE SPACE:
TENANT’S AGENTS CAN…
- LEVEL THE PLAYING FIELD. FIND A REAL ESTATE AGENT THAT WILL REPRESENT YOU EXCLUSIVELY AND REPRESENT YOUR BEST INTEREST. ONCE YOUR AGENT IS IN PLACE, THE ENTIRE DEMEANOR OF THE DEAL CHANGES AS IN #3 BELOW. THE FOLKS ON THE OTHER SIDE OF THE DEAL ARE PRECLUDED FROM EVEN SPEAKING TO YOU DIRECTLY AND MUST GO THROUGH YOUR AGENT.
- CREATE LEVERAGE. A GOOD AGENT WILL LEVERAGE YOUR NEEDS OVER THE SCOPE OF SEVERAL PROPERTIES THAT WORK FOR YOU. THIS WILL RESULT IN LANDLORDS COMPETING FOR YOUR BUSINESS.
- BECOME THE MIDDLE PERSON. A GOOD AGENT WILL BECOME THE INTERMEDIARY BETWEEN YOU AND THE FOLKS ON THE OTHER SIDE OF THE DEAL. YOU GET TO KEEP DOING YOUR REGULAR JOB AND ONLY HAVE TO ANSWER CALLS FROM YOUR AGENT WHEN THE NEED ARISES.
- PROVIDE MARKET KNOWLEDGE – FIND SOMEONE WHO KNOWS THE MARKET WHERE YOU ARE LOOKING. WHAT ARE THE MARKET TRENDS, DEMOGRAPHICS, ETC? IF THE MARKET IS CHANGING OR MOVING A DIFFERENT DIRECTION, YOU WILL WANT TO KNOW THAT BEFORE MAKING AN OFFER.
- PROVIDE INFORMATION – A GREAT AGENT WILL PROVIDE YOU WITH MORE THAN ENOUGH INFORMATION ABOUT ZONING, SPACE ALLOCATION, PARKING, SIGNAGE, ETC, SO THAT YOU MAY MAKE A PRUDENT DECISION. THIS ALONE WOULD REQUIRE YOU TO SPEND COUNTLESS HOURS ONLINE, IF YOU WERE TO DO IT YOURSELF.
- PROVIDE CONFIDENTIALITY – MOST STATES REQUIRE THAT AGENTS WHO REPRESENT ONE PARTY OR THE OTHER MUST CONDUCT THESE RELATIONSHIPS AS FIDUCIARY IN NATURE AND HOLD ALL INFORMATION AND COMMUNICATIONS PERTAINING TO THEIR CLIENT(S) IN THE STRICTEST CONFIDENCE. THERE WILL BE TIMES WHEN YOU JUST PLAIN NEED SOMEONE TO TALK TO SOMEONE WITH THE ASSURANCE THAT IT WON’T BE POSTED ON THE INTERNET.
- PROVIDE CONTACTS. YOUR AGENT SHOULD BE A GREAT SOURCE OF CONTACTS FOR RELATED GOODS AND SERVICES THAT YOU MAY NEED TO GET YOUR LEASE DEAL DONE. THESE INCLUDE CONTRACTORS, BUILDING TRADESPEOPLE, PLANNERS, ARCHITECTS, ENGINEERS, REAL ESTATE ATTORNEYS, APPRAISER, BANKER, MOVING COMPANY, CPA, SURVEYOR, ENVIRONMENTAL ENGINEER, ETC.
- PROVIDE CHOICE. HIRE AN INDEPENDENT AGENT OR AT LEAST SOMEONE WHO WILL SHOW YOU ALL AVAILABLE PROPERTIES IN YOUR MARKET AREA THAT FIT YOUR REQUIREMENTS. SOME AGENTS MAKE MORE MONEY IF THEY WORK A DEAL ON A PROPERTY THAT THEY OR SOMEONE IN THEIR AGENCY HAVE LISTED. THAT POTENTIALLY KEEPS YOU FROM GETTING THE BEST DEAL POSSIBLE. DEMAND THAT YOUR AGENT PROVIDE YOU WITH AS MANY LISTINGS AS POSSIBLE.
In the end, you have to be your own best advocate about these items. If you would like more information, please call J. Daniel Douglass, Licensed Real Estate Broker at 941-920-5638 or email him at jdanieldouglass@verizon.net.