In the commercial real estate business, there is a lot of misleading information out there regarding the availability of space to lease. Database programs that manage listings like Costar and Loopnet are only about 85% accurate. As a result, property information as advertised could be misleading. With the numerous types of leases available such as Triple NNN, Gross, Modified Gross and Full service, pricing and terms can be very confusing, thus making the entire leasing process daunting. There is great value working with an experience broker. Listed below are some of the things you can expect from a seasoned broker:
- Filtering through the mess and white noise to reveal spaces ACTUALLY available and appropriate for your needs.
- Explain in layman terms the different lease terms and what is included in the price (utilities, water, sewer, trash, HVAC, etc.)
- Negotiate and renegotiate points of the lease that could save thousands of dollars over the term.
- Gather relevant information about the location, businesses in the area, traffic counts, etc. that pertain to your business.
- Incorporate a time line so you can plan your move with efficiency.
- Offer advice and guidance during the transaction process.
Finding the right broker is crucial in the success of any Commercial Real Estate transaction. A seasoned broker has years of experience in the field and is passionate about helping each client find the perfect space with the least amount of hassle.