- A broker will save you time- The client should not be the one to do the heavy lifting, i.e. searching for properties that may or may not meet their needs, contacting listing agents and negotiating rates. A good broker will present you with options, arrange tours once they are certain a property has what the client needs, and will negotiate on the clients behalf, saving countless hours of the clients time.
- Working with a tenant rep. or buyer agent will save you money- In most cases, broker representation for a tenant or buyer is free. Traditionally a listing agent offers a commission to the broker representing the tenant or buyer, thus making the representation services free to the client. Some special cases would require a fee to be negotiated between the client and their representing broker but more often than not there is no charge to the client.
- A broker has current market knowledge- Since a commercial broker is touring properties and negotiating on a daily basis, they have their finger on the pulse of the market. This will make them more skilled in negotiating your rate, as well as offering a quicker turn around time in identifying properties as they are aware of the available product.
- A good broker will have industry contacts- Knowing other brokers will open the door to “pocket listings” or listings not yet on the market. This will possibly allow the client to be the first in line for a prime location or ideal property that isn’t even on the market yet, which is a huge advantage.
- A broker subscribes to one or more commercial multiple listing services- A good commercial broker has access to one, or all of the available commercial multiple listing services in your market. Since not every available property is listed in every “MLS”, this will ensure that no stone is left unturned when seeking potential properties.
- A broker will find you the best property to fit your needs- Working with clients in different industries provides insight and familiarity with different industries and their day to day needs. When you work with an industry professional, they will consider those day to day and long term needs from a property and present options that will meet those needs.
- A broker will identify space efficiency- Some properties have common areas that consume large amounts of square footage and increase your rent dramatically. A good agent can guide you away from buildings that have huge common area charges or at least provide an apples to apples comparison.
- A broker will negotiate the best rate- Working with a broker who has current industry knowledge of lease and purchase rates will ensure you secure the best possible pricing for your lease or purchase. An active broker is always on top of fluxuations in the market and will make sure you are getting the property for the right price.
- A broker will allow you to remain neutral- Whether you are seeking to lease or buy a property, allowing a broker to negotiate on your behalf will allow you to remain a neutral party, only participating indirectly in negotiations.
- A broker will make your search, and your life, easier all around- From saving time on searching and inquiring on properties, to negotiations, a broker is there to save you time, energy, and to assist you in making the right decision for you and your goals. Working with a broker will ensure your success.
There are many reasons why you should consider using a broker to represent you in a real estate transaction, time and savings being the main two points to consider. When selecting a broker make sure you choose someone with years of experience in the market you are interested in. Asking a colleague for a referral is also a great way to find an experienced professional. The Nesbitt Group specializes in buyer and tenant representation services and would be happy to answer any questions you may have when considering a move. Contact us today!