Are you in search of new office space for your growing business? Let’s face it. Time is money and as a business owner, you don’t want to waste any especially when it comes to locating new office premises. Taking upon the responsibility of searching for the right premises for your business is not the right move. You might be thinking that you are smart and may end up saving when you do this on your own. What you need to know is that you will lose thousands of dollars.
Hiring an experienced commercial real estate firm is your best bet. Not only will you secure the best value, but you will minimize risks and maximize returns.
Want to know more?
Here are the top 5 benefits of hiring an experienced commercial real estate firm.
Access to in-depth market knowledge and specialization
Experienced commercial real estate firms employ qualified, licensed and certified brokers who have been trained in internationally recognized institutions. After graduating from training, the brokers have helped prospective customers to buy, lease and sell commercial real estates. Thanks to the extensive experience, commercial real estate firms now have in-depth market knowledge. To provide clients with the best options, experienced commercial real estate agents usually conduct market analysis – both in the field and on paper. Thanks to information gathered, the agents are able to keep up with the supply and demand cycles. As a result, real estate agents know if a new listing is priced fairly or not. Specialization is also important because it helps to ensure that you get what you are looking for.
Able to handle negotiations like a pro
Hiring an experienced commercial real estate firm means that they will be looking out for your best interests. Thanks to their extensive training and experience, real estate agents will have experience with a commercial lease. Although they cannot be substituted for an attorney, they can help to review the lease documents and point out any discrepancies. When it comes to negotiations, they have mastered the art too. What you don’t know is that negotiations are stressful and time consuming. To get the best deal, the commercial real estate agent will utilize his or her skills. This relieves you the stress of doing so yourself. Furthermore, it helps to free your time and allow you to focus on the day to day running of your business.
Advocates for your needs
Commercial real estate firms work with architects, attorneys, designers and property managers. As a result, they are prepared to find the right space that fits your needs. Thanks to their extensive experience, the commercial real estate firm is able to co-ordinate the team of experts in order to achieve your objectives.
That is not all. They will take the time to study and analyze the real estate market, understand your office space requirements and even establish the credibility required in order to negotiate for the best deal. Basically, the professionals will advocate on your behalf and stay with you all the way until you are satisfied with your dream space.
Access to commercial listings
Commercial listings are not centralized like their counterparts – residential listings. They are categorized into different transactions types. Few of these listings are open to the public. When it comes to residential transactions, buyers and sellers are provided with all the data stored in the MLS database. To perform a search, you don’t need the help of an agent since you can locate the required information all on your own. In order to have access to information pertaining to a commercial real estate listing, hire an experienced commercial real estate firm. Failure to hire professionals means lack of access to available commercial real estate listings that fit your needs.
Saves time and money
Business owners have a lot on their plate which means they don’t have the time to review listings, write offers, schedule tours, negotiate terms and even deal with legal issues pertaining to transactions. Hiring an experienced commercial real estate firm means freeing time to run your business. If you are the property owner, you don’t have to create or update your listings either. They will do it for you. Furthermore, they will handle negotiations, undertake property tours and facilitate closing.
When it comes to money, hiring a commercial real estate firm means that you will have someone to represent you in the transaction. In most cases, the commission is usually split between your rep and the listing agent. If you decide not to have a rep, the fee is paid to the listing agent. Hiring a professional broker to act as your representative results in lower rates, concessions from landlords and free rent. This saves you money.