[fa icon="calendar"] 12.01.2016 / by Hunter Strickland
Working with a commercial real estate (CRE) broker is paramount to your success as a property owner. Not only can a broker save you time and money, they can actually help you increase the value of your property and get more money.
Here are four ways a broker can help get you the most money for your property:
1. They Know the Market
As is with every industry, the market for commercial real estate is constantly changing from one day to the next. As a property owner, it can be difficult to keep up with these trends while staying on top of all your other responsibilities.
Not only are CRE brokers in-tune to their markets, they process hundreds of opportunities and filter out the bad fit tenants. They can also help market your property and target the right clientele who are more likely to pay a fair market rate for your property.
2. Structuring Leases
Structuring leases and purchases can be a complex task. CRE brokers have experience in this area and, as mentioned above, are very knowledgeable about current market conditions. This means they can be extremely useful when it comes to structuring lease terms that are favorable to you, the property owner.
3. Legal Expertise
The legal ins and outs of commercial real estate can be complicated and difficult to understand. A good broker will be able to bring some legal expertise to the table that will be helpful when reading and interpreting legal documents.
While a CRE broker should not act as substitute for a real estate attorney, they can be helpful in knowing what the language and comments mean in a lease or sale and how to use those terms in your favor. An especially capable broker will also be able to suggest clauses to include that will protect you as the landlord and help you make more money for your property.
4. Negotiation Experience
The art of negotiating is a specific skill that is honed through years of successful transactions in a particular industry. This is something that CRE brokers have a lot of experience in, which can be beneficial to you as a property owner.
Because they are working for you, your broker will be looking out for your best interests when it comes time to negotiating lease terms. Again, a broker should not be used as a substitute for a real estate attorney, but having another set of eyes reviewing your documents can certainly be beneficial.
Working With a CRE Broker
Having a qualified CRE broker on your side can be beneficial in lots of ways. These people are professionals that have the right training, knowledge and expertise to get you the most money for your property. Consider hiring a broker if you think you could benefit from a little extra help with lease structuring and negotiations.