TOP 5 Reasons To Hire a Commercial Real Estate Consultant When Buying Or Leasing A Property

Price should not be the only factor to consider when hiring a real estate broker to buy or lease a property. Price is only one of the many factors involved in the transaction process from the owner of the property to the seller or tenant. Hiring an experienced commercial real estate consultant will help you to understand the entire process.

People believe that they will save money by not hiring a commercial real estate consultant.  They try to negotiate the price themselves feeling confident in their knowledge of the value of the property, but what they don’t know is how much it can really cost them in the long run.

Here are the TOP 5 reasons you want to hire a Commercial Real Estate Consultant:

1.     Savings- Just as the owner’s or seller’s agent works to get the owner or seller the most advantageous transaction (highest price), your agent or broker consultant is obligated to get you the best deal.

The number one reason people decide not to hire a Commercial Real Estate Consultant is to save the cost of the commission. In Commercial Real Estate, the majority of properties are listed by owners that have partnered with a Commercial Real Estate firm or have commission agreements with their in-house marketing department. In such cases, a compensation or commission is already built into the pricing of the property. Thus, no real savings are achieved with this type of transaction.

More important, are the cost savings that can be achieved through time management, successful negotiations, and proper deal structuring, as well as market knowledge.  These are skills only a Commercial Real Estate Consultant can bring to the table.

The most common transaction is the transaction that the landlords have already built in the commissions for the buyers and landlord representative. If you choose to not have a representative, the budgeted commission goes to the broker negotiating against you, not on your behalf, according to net lease Commercial Advisory Eric Odum.

2.     Choices- by using a broker/consultant, you will be able to explore more options when it comes to properties that best fit your needs.

The broker will explore all options and be able to present to the buyer multiple options that may not be listed online.

3.     Information Disclosure- A broker is able to disclose information to the buyer in regards to the seller’s or owner’s motivation, poor transaction data, or other information that the listing agent may not or will not disclose.

The more details the buyer has in making his/her decision, the fewer future problems will occur. It;s simpley too risjy to make a well-informed decision without the proper information of the facility’s infrastructure.

4.     Lawyers- Brokers have access to company lawyers when necessary.

When purchasing or leasing a property, it is important to make sure that you protect yourself, as well as your company. Having a lawyer on hand to review all contracts prior to buying or leasing the property is a wise choice; therefore, you can rest assured that all the t’s are crossed, and all the i’s are dotted.

5.     Consultant- By hiring a broker, you have the benefits of hiring a consultant on a contract basis for your facilities and project management needs.

Hiring a consultant to manage the property and facility helps prevent something unforeseen from happening. A property manager has the resources available to them to help a buyer lay out the facility in order to get the best use of the space, save on energy and operating costs, and maintenance repairs.

If you are looking for a Commercial Real Estate Consultant to handle your next business transaction and to find the best property for your company, please feel free to reach out to me, as I would be more than happy to serve you.

Have a question about your current property and need assistance in knowing where you can save money? Please reach out to me as I’d be glad to help you achieve that goal.

I’d like to hear from you! Please comment below and let me know what your biggest challenges have been when it comes to finding the best property to rent/or lease with Commercial Real Estate ventures?

Your opinion matters!

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