Finding office space can be a lot of fun. When considering a move into commercial real estate, you’ll discover going at it a lone is not the way to go. Sure, you can browse office listings on LoopNet but understanding and negotiating a deal should be handled by your real estate broker. A broker knows best. Your real estate broker will work with you to find the perfect space at no cost to you.
If you’re one of those people that says they never have time for anything, checkout our post on time management for small business owners.
Before starting your office search, make a list of your absolute must-haves in your space. A few things to list are: location requirements, square footage, and type of space you’re wanting (office, flex, industrial, etc.). Next, start your search for a real estate broker. Hit the interwebs and begin with a Google search. Once you’ve found a few candidates, give them all a call and ask questions. Get to know your broker because chances are, you’ll be working very closely with this individual the next 3 – 6 weeks or longer. Plus, you’ll need to learn to trust this person since they’ll be representing you when finding you a space.
How Will Hiring a Broker Help Me?
When it comes to actually finding a space, an experienced broker will make this so much easier. Tell your broker exactly what you want. Give them clear and detailed requirements. A good broker will ask you tons of questions and do their very best to get to know your expectations. This is completely normal as their goal is to find you the perfect space. Ultimately, you’ll be the one paying the rent but every broker I’ve met takes pride in the businesses they’ve successfully placed in great locations. Listen to what your broker has to say. Their experience, connections, and guidance will prove to be invaluable throughout this entire process.
Once your broker finds you a list of spaces to see, they’ll schedule a tour soon to follow.Your broker will most likely want to white glove the experience so having them pick you up and chauffeur you around is completely normal. In fact, it’s important that they take you to some of the spaces as it may be a requirement for them to do so in order to get paid. While you tour the spaces, be sure to take tons of pictures and notes. Most people will only remember the first and last space they see so it’s important that you do this.
When you decide on a space, your broker will really come in handy duking out an awesome deal for you. Don’t be afraid to ask for what you want. Contract negotiations are what brokers love most about what they do. Your broker will massage a deal with the end goal to get you everything you possibly can want. At least, that’s their goal. Part of the negotiations will involve some give and take but you shouldn’t agree to anything unless you’re absolutely satisfied. Your broker is looking out for you, he or she will advise you however they can and a good broker will let you know when you’re being “unreasonable”. Don’t get offended, your broker is looking out for you and at the end of the day, wants what’s best for you.
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