Your tenant representative has advice that could save you thousands of dollars, but if you’re like most entrepreneurs, then you’re not listening to them – and you should be. The following is the best advice to start taking if you really want to get the best deal on your office space.
Getting A Broker’s Help Is A Smart Business Move
Committing to getting the help of a broker can be intimidating – if you’re trying hard to make your business succeed, then you’re rightfully wary of the costs involved with getting more professional help. However, out of fear, you could spend countless hours looking at signs, calling landlords, and trying to figure out what the right market value for a given location is. In fact, you could be crunching numbers for dozens of locations – and as you focus more and more on the price, you’ll be losing sight of important things like the location of the office, the building its in, how well the length of the lease works for you, and what your options on renewals and termination are.
Getting professional help here is the smart move for your business. A broker will be focusing on the things you’ve overlooked – they’ll sit down and actually talk with you about your current business, your goals, and the needs and wants you have for office space. Once they really understand your needs, they’ll use their knowledge of the current market to filter through the results and vet each location available. The end result will be a list of locations that can help your business as it grows and expands.
You May Not Know What’s Best For Your Company
This is a hard thing to admit, but the most successful business decision makers are the ones who are willing to accept the limits of their knowledge. However, ignorance is only a problem when you don’t take steps to rectify it – and that’s where a tenet representative came come into play.
In fact, it’s quite common for business decisions makers to be set on a new office in a given location, only to completely change their minds by the time they’re done discussing it with their broker. The unfortunate truth of commercial leases is that a single mistake could haunt you for years to come. For new and established businesses alike, thinking about the long-term effects of your decisions can be financially rewarding and help you get to where you want to be.
Final Thoughts
The day you open up to a broker is the day you take your first step towards finding the office that’s best for your business. In fact, your broker will likely spend hours comparing your wants and needs against the current status of the market – there’s no magic formula for success here, only years of experience and a lot of hard work.
The return on your investment in a broker will come from two sources – the lower cost you pay each month for your office and the improved growth that comes from having your offices located in the space that best meets your needs.
Finally, don’t be afraid to ask for more information about your broker’s experience and record of success. They should be able to provide you with a comprehensive look at what their other clients originally wanted, what those clients ultimately settled on, and why they made that decision. This will serve as a good starting point for your own conversation and help you think about the aspects of leasing an office that may have slipped your mind.
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