When you begin the leasing process, your first step should be to contact a commercial leasing agent. It may seem like an extra cost to you upfront, but hiring extra support for the buying or selling process can have many benefits.
What is a Commercial Real Estate Agent?
Commercial real estate professionals work with different demographics and have a separate level of expertise compared to residential agents.
Commercial agents mainly work with businesses, rather than individuals and families. Commercial agents need to understand how location affects businesses, as well as the unique factors that go into the commercial market.
In addition, commercial contracts tend to have more complexities because each type of business has different requirements. In order to use specialized equipment, for example, a medical office needs permission in the agreement. Every type of business has considerations that must be discussed, including:
- Rent and the possibility of an increase down the line
- The cost of community spaces (like lobbies and bathrooms)
- Renovations and build-outs
- The amount of space you have and whether you can grow your team
- Access to the building after hours
Top 8 Reasons to Hire a Commercial Real Estate Consultant in Denver, CO
1. A Clear Understanding
Objectivity can be difficult sometimes. A great deal of money and time can be at stake, especially when it comes to large purchases. An untrained property shopper may have difficulty negotiating and seeing a situation clearly due to emotions.
Fortunately, if you work with a commercial real estate consultant, you won't have to worry about this.
Agents can get a better understanding of what a property is worth and negotiate the best price without being influenced by sentimentality or frustration from landlords.
2. Saves Cost
Most people are averse to paying commissions, which is why they don't work with a commercial real estate broker. However, you will most likely not be saving money by working alone because there is almost always a commission fee built into the price of the property.
If you do not have representation, the commission goes solely to the listing agent (CommissionTrac).
Consider paying someone to negotiate the best possible deal on your behalf with your best interests at heart rather than paying the full fee.
You can also save money by hiring a commercial real estate consultant in Denver, CO who has market knowledge that can lead to lower rates, free rents, or concessions from landlords — all of which are savings in the long run.
3. Representation by Professionals
You should hire a commercial real estate consultant early on if you want to be taken seriously during the negotiation process involved in purchasing a new property.
It shows sellers that you plan to strike a good deal if you have professional representation during these early interactions.
Further, landlords who want to make as much money as possible from a deal are less likely to take advantage of you because they know your consultant will spot unfair offers right away.
4. Disclosure of Information
A broker can provide a buyer with information about the seller's or owner's motivation, poor transaction data, or other relevant information that the listing agent may not or will not disclose.
Therefore, a buyer with more details will be less likely to run into future problems when making a decision. If you don't know how the building or facility is set up, you can't make an informed decision.
5. Makes Your Life Easier
Researching commercial properties is a time-consuming task. Business owners, property owners, and investors are often busy with more pressing concerns.
Commercial real estate professionals handle everything for you, from finding properties to negotiating and facilitating closings. This allows you to focus on other important tasks.
6. Knowledge of the Market
Consultants have extensive knowledge of the market. As professionals, it is their job to stay abreast of industry trends in Denver and other markets. Their thorough market analysis is conducted both in the office and in the field.
Using this information, they can keep track of supply and demand cycles in your region. They have this market knowledge, so they know instantly if a listing is priced fairly.
Knowing that they are up to date on the latest market trends will give you the peace of mind that they can negotiate effectively on your behalf.
It's important to look for a commercial real estate agent with experience in the nuances of the specific geographic market and property type you are seeking when looking for a real estate agent. Most commercial real estate consultants specialize in specific sectors, such as retail, industrial, or office.
7. Contacts
Commercial real estate professionals have good connections. The company deals with sellers, business owners, investors, and property owners constantly. They will find you the best deals and nicest properties thanks to their connections.
Also, they can make sure that your business has a seamless transition to the new building by providing you with the right contacts.
8. "One-Stop-Shop" Advantage
Your goals will be met by a team of experts coordinated by a commercial real estate firm. A commercial real estate company works closely with lawyers, architects, builders, designers, move managers, and property managers to ensure the space you end up in is exactly what you imagined.
Protect Your Investment with a Commercial Real Estate Consultant in Denver, CO
It’s beneficial to hire a consultant to help land the best deal for your CRE needs. With the help of a top commercial real estate consultant, such as Lavoro Consulting, a buyer can maximize space, lower energy and operating costs, and avoid maintenance and repair costs.
Reach out to us if you are looking for an experienced commercial real estate consultant in Denver, CO. Let us help you with your next business transaction and find the perfect property for your company.