Why Hire a Commercial Real Estate Leasing Broker
I was working with two Commercial Real Estate Brokers on two separate leases last week to understand and quantify their client’s leasing requirement for a retail office space. Unfortunately their is an 80/20 rule that states that 80% of the brokers that represent clients don’t know what the hell they are doing and can really screw up things for their clients. Yes they were on the path to screwing up the deal for their clients. I get asked this question quiet often: Do you need to Hire a Commercial Real Estate Leasing Broker when everything you need is on the internet?
10 Reasons NOT to Hire a Commercial Real Estate Broker for leasing an Office, Retail, or Warehouse space
The Good, The Bad, And The Ugly in Commercial Real Estate Leasing. I have put together a list of 10 reasons to consider when working with a Commercail Real Estate Broker.
- There is an 80% chance the Broker will screw up the negotiation and cause an adversary relationship with the landlord. Maybe even a 90% chance, based on the stunts I have seen over the last 30 years.
- All the tools you need are on the internet to locate and get a quote for Office, Retail or Warhouse lease space.
- Online Commercial Real Estate Serach Engines
- You can quickly figure out if your working directly with the landlord or a Commercial Real Estate Broker based on the listing.
- Unethical commercial real estate brokers take advantage of their clients relationships in various ways.
- Unfortunately, commercial real estate brokers do not always have the same interests in creating a win win client landlord relationship, and as a result, their lease negociations can be misleading and even damaging.
- Landlords are more focused on gaining a long term Tenant the will want to stay in their Multi-Tenant Business complex.
- Working directly with a Landlord builds Tenant relationships that will gain referrals.
- The direct communication levels are excellent when discussing a new lease or a lease renewal with the Landlord.
- Because you wont be wasting your time working with an incompetent Commercail Real Estate Broker that are mainly focused on getting their commission check.
Don’t hire a Commercail Real Estate Broker without Reading this First
It is important for clients of commercial real estate brokers to be aware of unethical practices in order to protect themselves from potential losses. Clients should always do their own research before signing a lease agreement and should be sure to read the fine print in order to ensure that the terms are fair and reasonable. Clients should also be wary of brokers who pressure them into signing an agreement without fully understanding the details. Clients of commercial real estate brokers should also be aware of the ethical standards of their broker. In conclusion, unethical commercial real estate brokers can be highly damaging to the interests of their clients. As such, it is essential for clients to be aware of corrupt practices in order to protect themselves from potential losses.
Leasing Process: JW Management Tools
In this blog post, JW Management fully explains everything that you need to know about office space for rent in Dallas, Arlington & Fort Worth Texas. Click the JW Management Tools link below if you’re interested in finding out more about renting an office space for a warehouse, office space, flex, retail, industrial, or any other form of commercial office space.
1. Tenant Construction Buildout
2. Leasing an Office, Flex, Industrial, or Warehouse Space
3. Designing & Permitting Your Office, or Warehouse Space