The Value of a Knowledgeable Commercial Real Estate Broker
Posted by: Ed Zigo
in My Blog
on Dec 14, 2011 
Tagged in: Brokers
In the course of our leasing and sales operations, we’ve always made it a priority at Clarke-Hook to work and cooperate with the brokerage community. This experienced group plays a vital role in the commercial real estate industry across markets of all sizes. And while we have worked with agents and brokerages from large national companies to regional, we especially enjoy working with a great corps of local professionals, right here in the Fairfax, Loudoun, and Dulles regions.
In our constant effort to foster strong bonds with our tenant business community, oftentimes we see the local broker as the catalyst that plants the seed of authentic trust and mutual benefit.
And that bond has to work both ways. Translated: both the landlord and the tenant (aka, the broker’s client) have to trust that the broker has mutual interest in mind. True, the broker represents the tenant, but instilling mutual trust will go a long way in customer satisfaction over the life of the business’s stay at the leased location.
So as an entrepreneur or small business owner seeking a commercial real estate broker, what should you be looking for?
As landlords, our idea of negotiation is win-win. It really is. And as you’re evaluating brokers, you should have the same mentality in mind: win-win. The relationship has to work both ways.
Once the lease is signed, it’s then up to both parties - tenant and landlord - to nurture and grow the relationship.
In our constant effort to foster strong bonds with our tenant business community, oftentimes we see the local broker as the catalyst that plants the seed of authentic trust and mutual benefit.
And that bond has to work both ways. Translated: both the landlord and the tenant (aka, the broker’s client) have to trust that the broker has mutual interest in mind. True, the broker represents the tenant, but instilling mutual trust will go a long way in customer satisfaction over the life of the business’s stay at the leased location.
So as an entrepreneur or small business owner seeking a commercial real estate broker, what should you be looking for?
- Your broker should have a clear understanding of the type of space you desire and the ability to offer workable alternatives.
- He or she should have strong knowledge of not only regional geography but also - and most importantly - the submarket you specifically want.
- They need to understand your space and equipment needs relative to the space you are looking at.
- They must have the ability to analyze the economic terms and compare them to the market. (And that doesn’t mean just rent, but pass throughs, escalators, etc.)
- And most importantly, they need to be expert negotiators.
As landlords, our idea of negotiation is win-win. It really is. And as you’re evaluating brokers, you should have the same mentality in mind: win-win. The relationship has to work both ways.
Once the lease is signed, it’s then up to both parties - tenant and landlord - to nurture and grow the relationship.
TrackBack URI for this entry
Subscribe to this comment's feed
Show/hide comments
