Many firms in the commercial real estate industry can trace their history back for well over a century. The commercial broker you work with is probably part of a team with decades of experience. Given that the industry is one with a long history, and the modern economy is one marked by rapid change, disruption and even destruction of whole industries, it's worth asking the question: do we still need commercial real estate agents in 2018?
All of the Data... All of the Time
As in the residential world, internet listing services have made it easier for everyone to access information on listed properties. However, brokers still add value in three important ways.
- Most commercial real estate users don't have time to check every site, every day. Your broker does.
- As the industry stands in 2018, many listings don't make it on the Internet and others make it online long after they are available through traditional off-line channels. A good broker can connect you to all of those properties, as well, whether they are listed or not.
- Brokers know the "right way" to search for properties. If you've leased or bought a lot of spaces, you know that there are times when you have to get a little creative in your property search. A broker can make the edges of the search blurry enough to find you a space that can be perfect with some creativity instead of only finding those that are perfect from the beginning.
The Real Story
Most stories have two sides. When you work with a landlord or an owner or his or her broker, you'll hear their side and their perspective on the building, the state of the market, and on what is reasonable. Having a commercial broker on your side who is also a market expert can give you valuable insight and perspective to help you find better space at a better price.
Negotiating Skills
Advance commercial real estate technology makes it a lot easier to do deals. Documents get emailed instead of mailed over, and signatures can be captured electronically at your convenience instead of at a far-away office. However, a deal point needs to be finessed to get you into a good space at a great price, a computer can't do that. An experienced commercial broker who negotiates complicated deal points on a daily basis can.
Full Life Cycle Service
Once you are in your space, your commercial broker can keep adding value to you. All of the market knowledge, connections and expertise that supported the leasing or acquisition process can help make your occupancy or ownership more productive. Whether it's letting you know about new buildings going up, new trends in the market that could affect your business, or making sure that your landlord is taking good care of you, a good broker is a key member of your team even between transactions.
Do you still need a commercial broker?
Clearly, the answer is an overwhelming YES!
Do you need a tenant rep broker? Visit the iOptimize Realty® website to learn more.
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