Many prospective tenants may be reluctant to use the help of a broker at the start of their search. Here’s a few reasons why you should utilize the resources of a broker to help you close a lease deal.
Not only do they know how to get you the best price on your lease, but they also know how to find you the best spot for your needs. At the start, you may not even be fully aware of your realistic needs. Your tenant rep is most likely familiar with the local market and will be able to give you realistic expectations to have based on what will be available in the market versus what you may be looking for in terms of accessibility, property type, price, and size.
Some tenants may be reluctant to use a commercial broker for their leasing needs because they think that they will end up having to pay the broker a commission, which is not necessarily true. When a lease agreement is facilitated by a broker, the landlord or building owner is typically the one who pays the fees. Many tenants are unaware of the agreement and avoid using a broker for this reason.
One of the most important benefits of using a commercial broker is that they are knowledgeable of all aspects of the contract and are able to negotiate accordingly. Rather than just knowing the price, the broker is aware of operating costs, location, building layout, heating and cooling capabilities, and any amenities that are important to the tenant, but they may not be aware of while negotiating a deal on their own.
Lastly, utilizing the help of a broker will save you time. Since tenants are business owners, their time is valuable and acquiring the right space for your needs may take a lot of time and effort. The help of a broker would allow for these business owners to save their time and energy and use their expertise towards finding the right space for the tenant.
