The first thing you need to do is to determine your needs: How much space do we need? How much rent can we afford to pay? How important is location? When does my new space need to be ready? Have … Continue reading
I’m thinking about moving my office; where do I start?
The first thing you need to do is to decide if moving is right for you: Exactly why are we moving? How will this move benefit the company and its future? What are the drawbacks of moving? Can we afford … Continue reading
When would I want to find space on my own?
The best circumstance to find a space without retaining the services of a tenant rep broker is when you are looking for a small space and/or short-term lease. Generally speaking, since the total lease consideration is small, the commission that … Continue reading
Do I need to broker to help me find space?
Perhaps….. What you need a broker for is their expertise surrounding the leasing process. A good broker is much more than just a space finder; you should view them as you would your attorney or accountant. You want their advice … Continue reading
Are all properties listed?
No. In some cases, an owner will lease the property directly. Sometimes, the owner will employ an in-house leasing agent. Typically, these are called open listings, where the owner will pay a full commission to any broker who brings a … Continue reading
What’s the difference between a leasing agent and a tenant rep?
The leasing agent has the listing on the property and represents the interests of the building owner. A tenant representative or “rep” represents the interest of the tenant in a lease transaction. Some agents work exclusively on listings, others will … Continue reading
How do commercial real estate commissions work?
There are several reasons why it is important to understand how commissions work: One of the most common pitfalls a tenant makes is to tour properties without having decided on a brokerage relationship. If you plan on hiring a tenant … Continue reading
How do commercial real estate professionals (“brokers”) get paid?
Commercial Real estate agents are typically paid a commission upon the signing of a lease. The commission is paid by the owner of the building and is typically paid one-half upon lease execution and one-half upon tenant occupancy. The commission … Continue reading
How does the commercial real estate (“CRE”) industry work?
Most owners of real estate hire real estate agents to lease their property on their behalf. The agent obtains a listing agreement, which calls for that agent to act on the owner’s behalf as a fiduciary in leasing the property. … Continue reading
