If you are in the market for commercial real estate, then you undoubtedly have come to a fork in the road. One leads you down the complicated path where you have to deal with the logistics of purchasing a property, while the other road offers tenant representation. This sort of representation in real estate offers you a liaison between you and the tenant for real estate transactions.
A tenant rep (sometimes referred to as a tenant advisory), essentially helps to assist companies throughout the entire leasing process. From the needs selection to the picking out the site, your tenant rep not only makes expanding your company easier, but they are a key part in ensuring that you are taking the right steps for your business. At 3CRE Commercial Real Estate, we fully invest in our clients. We have helped national corporations such as Verizon, Camp Bow Wow, Lumber Liquidators and even Pizza Hut. As well as regional and local brands like Scene 75 Entertainment Center, El Toro and Pretty-Pin Up Tattoo with their commercial real estate needs.
To help set your mind at ease, we’ve broken down what your tenant rep does so that you can better understand how they are crucial to expanding your business!
What Does a Tenant Rep Broker Do?
A tenant advisory does just that—advises. They wear a lot of hats, which ultimately helps you with your time management. The main reason a company will decide to hire one of these agents is if they want a smooth leasing process. They can help your company decided whether to relocate or renew your lease, get you the best deal, and answer any questions regarding your lease agreement.
Our agents are experts on negotiating so that your company feels secure in their assets. Here are a couple of questions that you can ask your tenant rep about expanding your business:
– Should I renew or relocate?
– How do I find the right space?
– What is the best market for my expanding business?
– Which properties have the best parking and amenities?
– Are there any out-of-pocket fees?
Benefits of a Tenant Representation
As we mentioned, your tenant rep takes the burden off of purchasing real estate for your business. Most business owners have heard the term that location is everything (location, location, location!) and that aspect alone can be a full-time endeavor. With the help of a tent rep they can do the research to make sure that the property for your business is in the right location and in favorable conditions. They can help delegate your budget and work within your timeframe to meet your companies’ deadlines for opening up new locations.
Here are a few other factors that our agents have access to that will help in the overall process:
– Premium memberships to over 15 websites
– Complete listings
– Updated property information
– Industry relationships
How a Tenant Rep Can Help Expand Your Business
Think about how your currently run your day-to-day business. From employees to accounting resolutions, you already have enough on your plate. Trying to find the time on your own to research real estate, find locations, all while trying to ensure you are getting the best deal is more than any one person can handle.
Your tenant rep is a crucial guide to expanding your business because they take care of all those for you. A tenant rep starts with a needs assessment so that they can better understand your company’s goals and anticipated growth. After that, it’s their job to find you the best potential locations before you even step foot into the space. Once that’s done, you can tour the establishment with your tenant rep providing you with information on the property. With a valuable tenant rep by your side, the process of expanding your business can be done more efficiently and more often.
Ready to grow your business? Contact one of our tenant representation brokers at 3CRE Commercial Real Estate today!