Selling, buying, and leasing commercial real estate can be a complicated process. There's a reason the real estate brokers must go through hundreds of hours of training to learn the processes, paperwork, and laws associated with the business and become the licensed professionals they are.
Whether you're a landlord seeking to sell or lease a property or a buyer looking for space of your own, it's in your best interest to seek the assistance of a licensed realtor to assist you though the process. Here are a few of the reasons to work with a professional broker.
Seek the Help of a Commercial Real Estate Broker
The broker has the ability to negotiate the best deal on your behalf because he or she usually has a vast knowledge of the current market. They can research comparable sales and leases in the area and price your space accordingly and competitively.
Brokers have a constantly growing network of buyers, sellers, lessors, and lessees. In many cases, they are instantly able to make these connections and get your space sold/leased or find you a space to buy/lease in the shortest timeframe.
A broker can list your office space for lease or sale on its own website, the MLS (multiple listing service), and other industry-related sites for maximum exposure. The MLS is a membership site where brokers list the details of properties of sale or lease. Access to the database is usually limited to licensed brokers and agents who pay a fee for membership or access to this data.
If you don't opt to hire a photographer a broker can take photos of your building for sale or lease. A professional will know from which angle to capture the space, including the doors, windows, lighting, floors, ceiling height, electrical panels, heating systems, and any other unusual elements of the building's interior, as well as its exterior.
A broker can create a market listing sheet for you that usually includes photos, a floor plan, and a summary of the property's details (location, square footage, utility types, etc.). The listing sheet can be given to prospective tenants. Providing all of the necessary property details to a potential tenant helps them make an informed decision easier and sooner.
A broker can also assist with recommended terms of a lease and help you determine the best terms in your particular case. In addition to lease price, some things to consider when determining lease terms include extensions, early exits and cancellations, options, build-out allowances, utilities, taxes, cabling, building security, parking, trash disposal, maintenance, heating and electric. Every lease can vary but a building owner's broker can recommend terms best for you as the lessor.
And finally, a broker can make recommendations on things you can do as a building owner and landlord that can increase your chances of leasing a space sooner rather than later, for a higher rental rate, and for a longer lease term. For a list of some of those improvements, see our article titled:
7 Tips for Building Owners to Lease Office Space.
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Carbone Commerical Real Estate, located in Woburn, Massachusetts, is one of the areas leading commerical and industrial real estate firms. Also serving Boston metro northwest. For more info and to view available listings, visit CarboneRE.com