Negotiating a commercial real estate can be a daunting and complex process; while you can go at it by yourself, working with a professional real estate advisor will make a crucial difference in terms of protecting your interests. Your advisor’s main role is to make sure that whatever property or space you choose will be truly ideal for your needs. Here are the other advantages that working with a commercial real estate advisor can bring.
Market Knowledge. Unlike the residential real estate market, the commercial real estate industry is very proprietary when it comes to sharing information. A good commercial real estate advisor has extensive knowledge of the current market, and has established a network of contacts that include many property owners where they can pinpoint which ones can negotiate fairly and which ones can be difficult.
Resources. A resourceful commercial real estate advisor will have comprehensive and up-to- date data at hand such as market statistics, traffic counts, and demographics that they can use to filter out the best for their clients. The result is a highly efficient and cost effective method of securing your real estate requirement with the most beneficial terms.
Location. Some locations are more efficient than others when it comes to certain businesses, and a good commercial real estate advisor that is highly familiar with the local market and with extensive resources will guide you to the location or site that is most appropriate for you, preventing you from setting up your business in a less than ideal spot.
Guidance. When it comes to a lease that might turn out to be detrimental to your business, leave it to your commercial real estate advisor to identify the problem and provide ways to solve it. Your advisor’s expertise and insight will also guide you towards making more informed decisions.
Negotiation. This is where skill and experience come in as only someone with years of successfully negotiated transactions under their belts can properly represent you. Your advisor will always look out for your best interests, so it’s recommended to have someone with a deep understanding of market conditions and lease structuring on your side.