Yes, Tenant Representation Is Still Effective Today
April 01, 16
For the longest time, a commercial real estate broker has placed the "for sale" signs on various buildings as an indication that the space is vacant. A commercial real estate broker is also responsible for doing more than that. A commercial real estate broker manages the buildings, has a hand in financing, and gives the property owner advice on buying and selling real estate.
Anyone who owns a business and sees a sign that lets them know the property is available for leasing knows that someone is representing that particular building owner. If you are the owner of a business and you need space, what route do you normally take? Do you call the broker on the sign or do you call various numbers so you can get the best deal?
As a prospective tenant, you want to see every option that you can have. When you are working exclusively with a broker for the landlord, the intention will be to encourage you to buy or lease that property. It is important that tenants are presented a list of great options, and that has been important now more than ever.
This is why tenant representation is still effective today. It was once believed that tenant representation would not last long because the market would once again become a landlord's market. However, tenant representation is still one of the top standards by which many people look for the best commercial real estate deals.
A tenant representation firm has the ability to provide prospective tenants with the advice and options they need in order to get a better night's sleep, without having to worry about what they need to do in order to lease or buy a property.
Do you need additional information on tenant representation? Contact us today.