For most company executives, leasing office space is an infrequent transaction undertaken every 5, 7 or 10 years. Meanwhile, landlords and their brokers are transacting every day, making them highly attuned to the nuances of a commercial real estate lease. Thus, along with hiring a trusted tenant advisor, you’ll need to be aware of these … Continue reading 5 Mistakes You’ll Make When Leasing Office Space
Unfortunately, not all brokers are created equal. In addition to lacking most or all of the qualities mentioned in this post, other indications you may not have a qualified broker include: They focus on “speed” – the tour, the proposal, and the close. Their focus is short-sighted on making money quickly, not about repeat business or … Continue reading Red Flag: How To Know If You’ve Hired “Bad” Broker
“Why hire a broker? I’ve got friends in real estate and can call landlords myself; and they’ll probably cut me a deal for not having to pay the broker’s commission.” Unfortunately, there are a number of people who have had bad experiences working with brokers, promoting the stigma that working with brokers is a “waste … Continue reading 6 Reasons to Hire a (Good) Commercial Real Estate Advisor
Each day, thousands of commercial real estate brokers will go to work, plug a hands-free headset into their phones, and start “dialing for dollars.” They have lists, scripts and cold-calling “maneuvers,” all created with one goal in mind: get the meeting. While this may conjure visions of an 80’s stockbroker — see Bud Fox, Patrick Bateman or Jordan Belfort — it … Continue reading Why we’re out to change the (commercial real estate) world…
Commercial real estate brokers are paid via a commission agreement: a written and executed agreement between the landlord and the broker whereby the landlord agrees to pay the broker a commission if the broker is the “procuring cause” of the lease. In other words, the broker is responsible for bringing the tenant to the landlord. … Continue reading Do You Know How Much $$$ Your Broker Gets Paid?
Termination options, as the name indicates, give tenants the option to terminate their lease under various different circumstances. From the perspective of your business, these rights will prove hugely valuable should you need to relocate, contract, expand, find cheaper space or leave your space for any other reason. Most commonly, termination rights give the tenant … Continue reading Pro Tip: Negotiating A Termination Option In Your Lease