In the world of real estate, commercial sales and leasing is so much more different than residential and other types of sales. It is a true ‘business’ transaction and companies looking for office space must protect themselves from the possibility of unfair negotiations. Hiring tenant representatives is a great way for a commercial client to have brokers that work for them – not the seller. With extensive knowledge of commercial real estate, a tenant rep can help a company avoid ending up in a space that does not meet their needs – or their budget.
Finding the perfect office space is not like finding a home. There is much more to analyzing a company’s working space needs that is best for them. Through discussions, observation, and calculations, tenant representatives help business owners find necessary office space that will create a productive working environment. They can help determine an affordable leasing budget and then negotiate with commercial property owners.
Finding the Perfect Office Space
Commercial real estate companies rely on tenant representatives to provide them with access to current commercial lease and sale listings. They can help clients find the right property in the right location with the necessary features. Commercial real estate works in such a way that brokerages provide buyer/lessee representation that allows them to gain more clients.
Negotiating the Best Deals
Commercial property transactions require the expertise of realty professionals who know how to negotiate good deals. Acting as a go-between for clients, tenant representatives can creatively bargain in areas such as length of lease, lease amount, and improvements and budgets. Improvements are usually the most flexible part of any commercial lease since it generally helps both the lessee and lessor.
Handling The Paperwork
There are concepts, terminology, and acceptable practices used in commercial real estate that are different than other real estate. Proposals and contract negotiations require the experienced eye of a commercial tenant representative who knows client needs, will protect that interest, and explain everything along the way. When a contract is finally signed, it will be the best one at the right price for every represented client.
Tenant representatives also handle any disputes between the two parties during negotiations as well as any issues that come up during property improvements. They will handle disagreements and more until a lease is signed and their client happily located in new office space. Streamlining all of this is a valuable service that tenant reps provide and one that commercial real estate clients will appreciate in the end – once the deal is done!