Why Hire a Tenant Rep Broker?Posted by: Corporate Realty on January 9, 2014 | 1 Comment
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The cost of your office space is a major expense – a professional tenant rep broker is on your side to make sure you don’t overspend!
The cost of your office space is a major expense and a lease is a significant commitment. When searching the market and negotiating with landlords, companies should make sure to retain a professional tenant rep broker to ensure they get the best deal possible. A tenant rep broker is your advocate in the real estate market, and is on your side to make sure you don’t overspend. Before you begin the process of finding a new office, talk to one of the tenant rep brokers at Corporate Realty.
A successful lease transaction is only as good as the professional you hire; you are looking for not only competence, but thoroughness, knowledge, and your broker’s ability to help implement your company’s strategy. Here are some of the services a competent tenant rep broker will provide:
- Evaluate your current lease, payments, obligations for future growth, and any other future commitments,
- Assist in determining the amount of space you will need, based on existing personnel, type of office arrangement you prefer, and accommodation of future personnel,
- Provide up-to-date information about available space in your local market, along with information that may be accessible only to those inside of the real estate arena, and provide suitable alternatives, (it should be noted that your representative will also objectively evaluate the suitability of your company’s current facility, along with any alternatives),
- Evaluate the various elements of lease proposals offered in a comprehensive, concise analysis,
- Help maximize the amount of the landlord’s contribution towards renovations, and coordinate the construction process, and
- Recommend other professionals such as architects, telecommunications personnel, and moving companies to compliment the team dedicated to your needs.
The involvement of the right tenant rep broker will make the relocation process a smooth one, helping to minimize the loss of productivity and maximize the goals set at the beginning of the process. The tenant is usually not obligated to pay for fees or commissions, as those are usually paid by the landlord – would you enter into a major, expensive commitment without representation?
Written by Donna Whalen Little, a Tenant Rep Broker with Corporate Realty. Over the last thirty years, both as a landlord’s representative and then as an exclusive tenant representative, Donna has successfully completed several million square feet of lease and sale transactions. Please call Donna at 504.581.5005 to learn more about how she can you help you.