People who are in the market for a new commercial space for their business, be it a retail enterprise, a medical practice, a fashion showroom, a loft style studio or a traditional office space always have the choice of working with either leasing agents of individual buildings or independent real estate brokers.
The only advantage of working directly with the individual leasing agent of a particular building is that the agent has an intimate knowledge of both the landlord and the characteristics of that building.
The advantage of working with the independent broker is multi-fold and is as follows….
1) The broker is quite capable of learning about all the relevant characteristics of any commercial building and explaining in detail to his customer or client the advantages and disadvantages of that particular building including whatever impact any of the characteristics might have on one’s business. Examples could be whether or not the building is accessible 24/7; whether the building has a lobby attendant, full or part-time; does the building have freight elevators and if so, when are they operational.
2) A broker has the wherewithal to bring his client or customer to a multitude of buildings and spaces within the relevant location parameters which have been set. The leasing agent, on the other hand, has only the one and sometimes two buildings in which to offer available space.
3) Finally, the broker has the uncanny ability to steer his customer or client away from those kinds of buildings which may not be in one’s best interest based on his/her experience in the industry and knowledge of the market. For example, does the landlord have a reputation for being difficult and uncooperative once one becomes a tenant in the building? Does the landlord cut corners in the building out of a space thereby diminishing the final product? Does the landlord have numerous articles within his/her lease documents which the average proposed tenant would find unacceptable; and is this landlord difficult in negotiating reasonable terms in the lease document? The aforementioned is not information that is going to be offered to a customer by a leasing agent who derives his/her living from representing the landlord’s interest.
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