If you’re leasing office space or renewing an existing lease, there’s no good reasons not to hire a commercial real estate advisor
Here’s 6 good reasons why you should hire a commercial real estate advisor:
Huge Time Savings…By hiring an exclusive advisor, a principal saves valuable time by shifting real estate responsibilities like qualifying properties, fielding calls, researching alternatives, and running financial models to their advisor. This allows principals to focus on their core business.
Leverage the Knowledge…of competing properties creates competition for your tenancy, resulting in the best economic terms. Landlords negotiate more seriously when they know other parties are competing for your business.
Level the Playing Field…Many landlords lease space as their primary business and know the market. In contrast, most tenants relocate once every 5-7 years. An experienced commercial real estate advisor on your side of the table helps you negotiate from a position of strength.
‘We had a very positive experience during VoitWorks’ representation of our office space lease negotiations. Thank you for providing such a high level of professionalism, market knowledge and negotiating expertise on our new office lease.’
Doyle Schafer McMahon
Alignment of Interests…Exclusivity keeps the interest of an advisor and the principal aligned. Since advisor only get paid if they complete a lease or renewal, a non-exclusive advisor‘s objective could be to get a transaction completed quickly, even if it may not be the best deal for the client. A qualified exclusive advisor, who is protected by a representation agreement, can be objective and spend the needed time to locate/negotiate the best deal possible.
Full Service Approach…It is highly unlikely that a non-exclusive advisor is going to commit the full suite of resources their firm offers. In today’s market, valuable services like project management, financial modeling and architectural services can help a client make a more informed real estate decision.
Create Opportunities in Tight Market…A qualified commercial real estate advisor who understands the local and regional markets is able to be resourceful and effectively use their time to source opportunities that may not be officially “available” to the overall market. This could lead to more choices, less competition for the client and better economic terms.