Before proceeding, ask yourself these questions. First, do you have the time and expertise to research the real estate market, including opportunities that are currently available as well as those which are coming available in the future? Second, do you know the market and the effective leasing rates and inducements being offered to those leveraging their real estate requirements? Third, do you have the time and expertise to deal with all the different brokers and landlords, while handling all of your other job responsibilities? If the answer to any of these questions is no, then you need a tenant representative and the following information will be very helpful.
Selecting space for your organization and successfully negotiating the most attractive lease arrangements are complex, time-consuming tasks, full of potential pitfalls. The pitfalls only multiply if you undertake the process on your own without the benefit of an experienced commercial real estate professional serving as your tenant representative.
Hiring a tenant representative who acts on your behalf will eliminate many of the
hassles in site selection and negotiation and save you a substantial amount of
time. It will prevent potentially disastrous missteps and it can cut much of your real estate expense. More importantly, aligning yourself with an experienced tenant rep can turn up real economic opportunities and help turn your space into a strategic asset.
The tenant rep is a specialist in selecting space and negotiating leases. Making effective use of a real estate professional will generate cost savings and give you space and terms that improve the financial and competitive position of your company. It's always a great idea to have the right real estate professional on your side.