The need for professional tenant representatives’ services has become more evident in an economic climate characterized by the volatility of mergers, acquisitions and restructuring; the growth or downsizing of the needs of national companies; the influx of foreign investment; and an increasing awareness of the cost of real estate as an expense item. In addition to advocacy, a tenant representative offers clearly valued and definable benefits to their clients:
• Knowledge of the product and the process.
• A high degree of professionalism, which translates into credibility with property owners, and an ability to minimize the complications of the transaction process.
• Depth of office industrial market knowledge, which gives the client greater leverage when dealing with landlords.
• A well-established track record in the industry, which assures the client that the agent has successfully handled the types of situations the client is experiencing,
• A well-defined focus on a narrow objective, which means that the agent will not be distracted by conflicting interests.
• Exclusive representation of YOUR INTEREST with no obligation to the landlord or seller
• The ability to advise the client on the best negotiating strategy for the chosen property
As a tenant representative I act as the local real estate arm of my client or as a local consultant to a corporate real estate department. In many assignments I work with the chief executive officer, the real estate department, financial officers, human resources personnel, division managers and legal counsel to develop, define, prioritize and strategize space solutions for the client’s business needs. Tenant representation therefore, is a highly sophisticated discipline requiring competency and experience in the business.
A good tenant representative like myself has a workable relationship with many landlords in a particular market. Having performed well in previous transactions, I have better access to space in today’s tight market. My experience and knowledge of the business as a tenant representative provide real value to the client.
As a tenant representative my ability to identify and present a client’s requirement clearly and precisely enables landlords to make realistic proposals that can later be accurately evaluated and compared.
Keep in mind as you review properties on the internet, in newspapers and signs on properties, etc. the ads there are from the landlord sellers agent who is to obtain the best lease or sale price and terms to the advantage of the owner. Their job, enforced by the listing contract, is to get the best deal possible for the owner! They are paying for advertising hoping to get you to use them to lease or buy their listing. That way they keep all the commission, usually 50/50, with a cooperating agent who can represent just you on the property. Let us be your cooperating agent! Since 50% of the commission is to compensate the tenant or buyer’s representative shouldn’t you choose one that will represent you completely? All of that commission the owner has dedicated to the listing agency comes from your funds as part of the sale or lease price. From a listing agent you get less than full representation as they may only serve you as either a Dual Agent or just a customer and represent the landlord or seller exclusively.
Why not work with someone in whom you can have confidence they are working only for you from the start?
We can give you unbiased information on all listed and available unlisted properties in my market area with the assurance to you that we have no obligation to any landlords or sellers and will represent only you.
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