No matter how prepared you are before a commercial real estate endeavor, there’s no shortage of challenges, complexities, and surprises along the way. With paperwork, negotiations, legal jargon, and time-consuming processes, it only makes sense that tenants seek a real estate advisor to help navigate commercial real estate decisions.
Still, not all real estate advisors offer the experience, expertise, and personal guidance to effectively navigate the process—this is especially true when it comes to global real estate companies. Instead, you need a specialized, local, and tenant rep real estate advisor who knows your market well and can answer any questions you have along the way.
Others may not have your best interest in mind.
Tenant-focused advisors help level the playing field between you and the landlord. Most landlords are real estate experts represented by advisors who are also real estate experts. To ensure you approach negotiations and all other steps of the process as prepared as possible, you need to have an expert on your side.
Continue reading to learn more about the benefits of working alongside a tenant rep real estate expert.
Benefits of a Tenant-Focused Commercial Real Estate Firm
Brokers who represent landlords may end up acting as dual agents, meaning they represent your landlord and you in the same deal. As a result, dual agency brokers can’t advocate for you or the other party. That’s why, as a tenant, it’s in your best interest to work with a tenant-focused broker instead. Here are a few other benefits.
1. They negotiate exclusively on your behalf
When your real estate agent focuses only on your needs as a tenant, you can be assured that they’re concerned only with how the end results affect you. You’ll never have to worry about them personally (or others in their brokerage) representing the landlord, too.
2. They have your best interests in mind
In addition to not risking a dual agency scenario, tenant representation brokers focus solely on you, rather than also attempting to get the landlord as a client. Dual agents may view landlords as a better, sustainable source of business. From tenant reps, you receive their full, undivided attention, experience, and expertise to ensure you’re treated fairly and walk away with equally just terms.
3. Work with the best broker for the transaction
Hiring an independent commercial real estate company to assist your organization with multiple transactions across the country allows you to tap into the best experts in each market. Independent brokers have the ability to work with any advisor in each market rather than being motivated to work with the same office in each market. . Instead, they are free to work with the best broker for each transaction. This gives you the peace of mind that you’re always working with expert professionals who know your local landscape and ensure a smooth process.
4. Expertise in business terms and negotiations
Each phase of the commercial real estate strategy is crucial—and so is each phase of the tenant representation process. Your broker’s expertise offers full support from beginning to end. A tenant advisor is well versed in what matters to tenants, and therefore, enters negotiations aware of these issues. A tenant-focused firm is also well versed in the lease terms that most often affect tenants, and will work to structure them in the best way to protect you from unforeseen liabilities and price increases, and protect you in ways a general practitioner or landlord’s agent would not.
5. They coordinate a team for you
The entire commercial real estate transaction process invariably involves multiple players. At times, your tenant rep firm may bring additional advisors to the table that, like them, do not have conflicts of interest or existing relationships with landlords that could materially have a negative impact on the proposed transaction. Your commercial real estate broker will also coordinate a team of:
- Lawyers
- Architects
- Contractors
- Designers
- Move managers
6. Allows you to focus on the day-to-day operations of your business
Business doesn’t stop when you’re in the middle of a commercial real estate transaction. Tenant-focused brokers give you the opportunity to remain focused on your daily responsibilities and big-picture goals; let your real estate advisors worry about the transaction details.
7. Access to the right connections
Years of experience means commercial real estate experts have more access to a vast network of connections, like listings, resources, tools, and data. These ever-growing networks only support your transaction to ensure you have the resources you need to feel confident at each step of the process.
Elevate Your Transaction Experience
Whether you’ve been through a CRE transaction before or this is your first time, tenant rep brokers make (what could very easily be) a difficult process much smoother. You’ll receive:
- Negotiation on your behalf
- Full support focused only on your needs
- Experienced broker support at each step
- Lease language and negotiation expertise
- Personalized team coordination
- The chance to remain focused on your day-to-day operations
- A network of professionals and resources
Want more commercial real estate resources?
Every commercial real estate transaction requires a strategy—from the brokerage firm you choose and beyond. When done right, CRE strategic decisions enable more efficient operations, accentuate your company’s unique culture, and generate superior financial results. Download our free whitepaper to learn more.