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Why should a business owner use a Commercial Tenant Representation Broker to help them locate & negotiate commercial space?

By: Bill Wortman

 

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Why should a business owner use a Commercial Tenant Representation Broker to help them locate & negotiate commercial space?

 
Answer: We do not know if you are currently under a commercial lease agreement or your experience with analyzing and negotiating commercial leases, which may affect your decision; however, you can review industry articles and suggestions on Commercial Tenant Representation Broker services at several websites, which include these common considerations:
 
Reasons why you may need tenant representation:
 
1. Do you have the time and expertise to research the real estate market, including opportunities that are currently available or will become available in the future?
2. Do you know the effective leasing rates and inducements being offered to those leveraging their real estate requirement?
3. Do you have the time and expertise to deal with brokers and landlords in a site search, while at the same time handling all of your other job responsibilities?
4. Do you know how to use real estate to improve the financial and competitive position of your business or corporation?
5. Do you know that the quoted rental rate of your building includes brokerage fees?
 
Ways a tenant representative can help:
 
1. Analyze space needs
2. Investigate all available properties and determine which are the most appropriate for your needs
3. Create a bidding war among several landlords for your business
4. Protect you during lease negotiations so that you come away with terms that meet your present and potential needs
5. Serve as a buffer between you and the landlord
6. Identify lease provisions that could cost you money during the lease term
7. Handle the paperwork and other details of the lease negotiation
8. Settle disputes that arise after the lease is signed
 

Published: September 16, 2013
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Bill Wortman

As the Chief Business Consultant at BizCoachingOnDemand.com, Bill has over 40 years of business experience. He's held multiple executive-level positions and fulfilled the role of CFO at large, publicly-held (NYSE, NASDAQA, and AMEX) corporations. In addition, he's also been an owner of several successful private ventures in real estate and in the automotive industry.

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