New business owners ask me all the time, “Isn’t it going to cost me big $$’s to use the services of commercial real estate broker to help me find my space?”. The answer is no. In fact, it will ultimately cost the new tenant more if they don’t use a broker to represent them. Here’s why!
Time – First, searching the internet or driving around in your market calling on signs and hoping they have something that works for you couldn’t be a bigger waste of your time and energy. A commercial real estate broker not only has the most up to date information in his/her database, but also has specific market knowledge about the spaces/buildings in his database. Don’t waste your time.
Cost – The cost to use a commercial broker to represent you the tenant or buyer is typically $00.00! That’s right, nothing, nada, zero dollars. That is because while we are legally bound to represent YOUR BEST INTERESTS, we get paid by the landlords’ broker by way of a cooperative commission structure. So yes, we get you the best deal possible with the Landlord, then get paid by that same person. Crazy? Maybe, but that is the system we have, and YOU the TENANT are the beneficiary.
Market Knowledge – Lastly, do you know the latest in the specific market conditions, the tendencies of the particular landlord, what the last tenant at this building paid in rent? How much free rent or how much improvement money should you try to get out of the landlord? A good local broker has this information. For this reason, when tenants come direct to the landlord without a broker, they never get the best deal, despite their negotiating skills. Don’t leave money on the table by thinking you are saving money by not using a broker.
So, call your local broker today! You don’t start out your business without other professionals like your Shulman Rogers attorney, so don’t start your business without a commercial broker in your corner either!
