Real Estate News & Talk
~the RENT Blog~

The RENT blog gives you the resources and tools you need to make the best decisions regarding your real estate needs.  We cover a broad range of subjects regarding office space, tenant needs and what to look for when investing in property.

Choosing the right real estate broker, HOW TO CHOOSE THE RIGHT COMMERCIAL REAL ESTATE BROKER FOR YOUR OFFICE RELOCATION

HOW TO CHOOSE THE RIGHT COMMERCIAL REAL ESTATE BROKER FOR YOUR OFFICE RELOCATION

When businesses retain a tenant representation commercial real estate broker, they are buying that professional’s time, knowledge, and commitment.  Tenant representation commercial real estate brokers can play many roles throughout a transaction (tour guide, analyst, deal maker, negotiator).  Whatever your commercial real estate broker’s role, the most effective tenant reps are those that are experienced and focused on your property type and market.

Interview at least two commercial real estate brokers before you hire your representation.  When interviewing brokers, procure the following information:

  • Scope and Size of Firm
  • Focus of Firm
  • Focus of Broker
  • Experience of Broker (Years in CRE, Years in Specialization)

Firms should also watch out for and avoid two personality types common in the brokerage community:

THE HYPER-AGGRESSIVE COMMERCIAL REAL ESTATE BROKER

The aggressive commercial real estate broker always believes that they’ve squeezed the deal for all it’s worth, because they’ve spent months or years of your time emotionally abusing the opposition.  However, this commercial real estate broker rarely achieves more concessions than their more professional counterparts.  Instead, they usually prolong the time it takes to close and worsen the relationship between the tenant and the landlord.

THE ULTRA-SELECTIVE COMMERCIAL REAL ESTATE BROKER

Some times, a seasoned veteran in the brokerage industry will begin to believe his own marketing materials.  Although this commercial real estate broker is well qualified to work on your account, he thinks that he is too good to do so.  This broker only works with the “elite” of an industry or a market.  Your business will probably not fit his standards, and he will not dedicate his full resources to your account, if he decides to take you on as a client.

Golden Group Real Estate helps your business find office space and negotiate the lease or purchase agreement.  For more on Golden Group Real Estate, read about our real estate services. Let us know if we can help you find office space for rent or buildings for sale.  Call us at (630) 805-2463, email us at troy@goldengroupcre.com, or enter your office space search criteria below.

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