We are frequently asked about the benefits of using the services of a Commercial Broker versus working unrepresented in your commercial needs.
In this blog we want to share some of the many benefits of using a Broker whether you are looking to buy, sell, or lease commercial real estate. We will cover the top 5 areas in which a Commercial Broker will help benefit and ease your Commercial Real Estate (CRE) experience, including:
- Negotiation (On Your Behalf)
- Time Savings
- Cost Efficiency
- Market Knowledge
- Professional Network
- Negotiation (On Your Behalf)
Commercial Brokers are experienced in negotiating the best deal possible and can help you get the strongest possible terms in a transaction while acting as a buffer between the buyer/tenant and/or seller/landlord. This separation not only helps keep the emotion out of the negotiations, which helps streamline the process, but it helps allow both parties (including the other side’s Broker), work together towards a common goal in an efficient and market knowledgeable approach. A good Broker understands the needs of their clients and are able to apply their expertise to help create the most favorable overall outcome, ultimately reducing the time and stress associated with navigating through the transaction.
- Time Savings
The upfront work to finding the right match for any property can take a long time, and in many cases, is not the best use of your time. Using a Commercial Broker is time efficient because they are experienced in the commercial real estate market and can help streamline the process of finding and negotiating the lease, purchase or sale of commercial property. They have access to a wide range of resources and can help to find the best match for Buyers and sellers, tenants and landlords, and not to mention, the ongoing emails, calls, proposals and other paperwork that can be involved in transactions. Bottom line, what is your time worth?
- Cost Efficient
A Commercial Broker is able to leverage their networks and expertise to secure the best possible deals for their clients. If you are a buyer or tenant, they Broker is in most cases paid by the landlord or seller. Thus, your services are free. Add to this fact is that most CRE Brokers have access to a wide range of industry knowledge and experience that can assist you in making the most cost-effective decisions for your business or property. Additionally, having an experienced and knowledgeable Commercial Broker can help you avoid many costly pitfalls and ensuring you have the best chance to get the best returns on your investment.
- Market Knowledge
Commercial Brokers live and breathe the CRE market and, while you may have a strong market knowledge, it’s hard to beat the in-depth knowledge of the market, including current trends, pricing data, as well as regulatory information. They understand the nuances of the market and can find the best options available in the area. This not only helps to increase the success rate of a transaction but it reduces the amount of time and resources needed to complete a deal. Additionally, this market information helps them stay up to date with trends as well as anticipate future opportunities which will help in gaining a competitive advantage.
- Professional Network
Commercial Brokers have an extensive network of contacts consisting of other Brokers, landlords, tenants, investors, lenders, inspectors, contractors and many other professionals that may be necessary for a successful commercial real estate transaction. Having access to a wide network allows for the Broker to have a much greater opportunity of success from the start. It further allows for efficient coordination and facilitation of the entire process in a seamless fashion.
While these are 5 of the top reasons, there are numerous other reasons that utilizing a Commercial Broker can make the difference between a successful transaction and a disastrous one. At the very least, we always suggest that you at least take the time to speak with a professional when starting your search.
