Commercial real estate is a complex business. And, a commercial real estate deal is one of the most important decisions you will make for your company. Without the right guidance and support, you could very well find yourself in a real estate nightmare.
If faced with a lawsuit, would you defend yourself? Probably not. (Not recommended)
If you broke your arm, would you set your own cast? Most definitely not.
Ensure you are negotiating the best possible terms, while saving yourself both time and money, by hiring a professional.
1. Save Money
Many times, people don’t work with a commercial real estate broker because they have an aversion to paying commission. In almost all cases, there is a commission fee built into the price of the property so you aren’t saving money by working alone. The commission is split between the listing agent and your representation, but if you elect to have no representation, that entire fee goes solely to the listing agent. Basically, the listing agent gets paid double. Instead, allow a portion of the fee to pay for someone who is going to represent you and negotiate the best possible deal on your behalf, with only your best interest in mind.
Cost savings also come from the market knowledge a professional broker can draw upon, oftentimes resulting in lower rates, free rent, or concessions from landlords — all of which save you money in the long run.
2. More Access
Due to years of experience, commercial real estate experts have more access and a vast network of connections — access to listings, resources, tools, and data that someone on their own would not be able to access; connections that have been fostered over years of working in the industry. Professionals monitor trends and data giving them the edge to find a perfect space and negotiate the right terms.
3. You’ll be Taken More Seriously
A company representing themselves in a real estate transaction is a landlord’s dream come true. When building owners realize you have no representation, they may take you less seriously and perhaps take advantage of you. By retaining a professional, not only are you sending the signal that you’re serious and considering other market options, you are hiring someone to work with your best interest in mind every step of the way.
4. Save Time
Ultimately, you have a job to do and tenant representation isn’t it. Many professionals already have too much on their plate without having to review listings, schedule tours, write offers, negotiate terms, and deal with the legal side of a commercial real estate transaction. By hiring a commercial real estate firm, you can feel confident you’re getting optimal terms without seeing a hiccup anywhere else in your business. Your broker will act as an orchestra conductor, perfectly composing all the technical aspects of your deal with skill and precision.
5. Negotiating Contracts Can be Difficult
The art of negotiating is something that is learned over time and perfected with frequent practice. It should be left to someone armed with the knowledge and skill in the real estate industry to make the right deal happen. Deciphering terms and options in contracts can be confusing and time consuming. A real estate professional can uncover unfavorable restrictions often found hidden within contracts and resolve them to your benefit.
6. The “One-Stop-Shop” Benefit
A commercial real estate firm will coordinate a team of specific experts to achieve your goals. Working with lawyers, architects, contractors, designers, move managers, and property managers, a commercial real estate company will ensure the space you end up in is exactly how you pictured it.
As real estate experts, Allegro specializes in knowing the market inside and out, understanding your space needs, and establishing the credibility needed to negotiate the best deal. We advocate on your behalf while preserving your relationships. We are with you every step of the way and aren’t satisfied until you’re operating out of your dream space.
Align Your Real Estate with Your Business Strategy
There’s a lot to think about as you strategize your real estate portfolio in the future. Whether you’re planning out weeks, months, or years ahead of time, the best solution to optimizing your real estate portfolio is to have a trusted partner on your side to advise and help manage your assets.
Download our free guide, Corporate Real Estate Portfolio Strategy: Your Business’ Competitive Advantage, to help you through your asset evaluation today.
