Four Reasons to Hire a Commercial Real Estate Broker
Real estate costs can make up 30 to 40 percent of a company’s budget. Business leaders may wonder the best way to go about the commercial real estate process while also watching their bottom line. One of the most cost effective decisions you can make is to hire a commercial real estate broker, and we’ll outline a few reasons why.
Brokers have market intelligence.
Market conditions are always changing, and brokers are aware of past, current and forecasted market conditions such as average lease price and vacancy rates. This knowledge, along with years of experience, will ensure you get the best possible outcome for your business.
Brokers negotiate on your behalf.
Commercial real estate negotiations can be stressful and time-consuming. You can avoid the headache by hiring a broker to negotiate on your behalf. Brokers have sharpened their negotiation skills through years of transaction work. They will negotiate for the terms that best benefit your business. Having a broker as the middleman can also maintain better relationships between tenants and landlords.
Brokers create leverage.
Commercial brokers use knowledge and experience to create leverage during the negotiation process. For example, brokers will determine several space options for tenants. When landlords know tenants have options, they may offer greater concessions to earn their business. Leverage creates a competitive environment and can reduce your real estate costs.
Brokers have time to focus on your deal.
You have many responsibilities as a business owner and may be unable to devote necessary attention to analyzing market conditions, searching for properties and developing a negotiation strategy. Your commercial real estate broker will focus on the details of your transaction, enabling you to concentrate on the operations of your business
Menlo Group’s team of expert advisors would love to assist you on your next real estate transaction. Check out this video to learn how a Menlo Trusted Advisor™ can benefit your business.