But before we break down all the benefits you stand to gain, let’s review what services your tenant rep can provide.
What is a CRE tenant representative?
A tenant representative is a licensed commercial real estate professional that works on your behalf to find (and secure) the best possible space for your business. Tenant representatives are different from a standard CRE broker who also works with landlords and property owners. Working with both parties can create a conflict of interest.
When working with a tenant rep instead of a standard broker, you can ensure they always have your best interest in mind.
Benefits of hiring tenant representation services
Tenant reps are there to advocate on your behalf, but that’s not all that they’ll do for you. Your tenant rep will also:
1. Accurately analyze your current and future space needs
If you’re interested in searching for new commercial spaces, it’s likely because your current one no longer fits your needs. But without professional CRE experience, it can be difficult to identify how much space your company really needs. What you need today or a year from now can be very different than what you’ll need five years from now.
Tenant representation services not only help you find the right space for you now but also one that’s going to serve your business for the next several years.
2. Access properties that aren’t listed on the MLS
Trying to find office space on your own can be frustrating (or even downright difficult). This is because you don’t have access to all the available properties on the market, but tenant reps do.
They have access to listing databases like CoStar and LoopNet that will help you choose from a more complete list of potential properties.
3. Act as a buffer between you and the property owner during lease negotiations
Negotiating a lease isn’t easy. When there are large quantities of money involved, things can get tense. A tenant representative will advocate on your behalf so you can ensure things remain cordial with your property owner or landlord.
4. Save a significant amount of time and money
Tenant reps handle everything from site selection to lease negotiations so you can focus on the day-to-day operations of your business. Moving offices takes time, but with a tenant representative, you can still give your business and team the attention they deserve.
5. Secure the best possible leasing agreement
Perhaps most important of all, a tenant rep is going to help you secure the best possible leasing agreement. They’ll know how to create leverage so they can successfully negotiate the terms of your lease and agree on more flexible leasing terms, long-term cost savings, and a lower monthly payment.
Learn more about corporate real estate tenant representation services
If you’re interested in working with a results-driven tenant rep, reach out to us at Lavoro Consulting. We are here to help you move or expand into a new space that serves you and your business for years to come.
Contact us today to learn more about our corporate real estate tenant representation services.