The Role of the Commercial Real Estate Broker
“Believe one who has proved it. Believe an expert. “-Virgil
An experienced commercial agent can make theprocess of leasing more effective for your company and usually better in many different ways. Commissions arebuilt into the transaction, so there are no out of pocket costs
to you as a Tenant.
As Bob McRae, former chairman of C.I. Funds told me "It's a no-brainer. It costs you nothing to get the best type of representation there is."
Leasing commercial space is not just a matter of finding the building, although this is sometimes pretty difficult.
A Tenant who does not use a Broker will likely not be aware of all the possible facility choices. Commercial space is not all listed in MLS databanks like in residential real estate.
This is because many commercial brokers prefer not to advertise on the MLS and Landlords often have non licensed in-house representatives who do not have access to MLS, therefore they promote their listings to brokers directly.
This leads to very fragmented property information data. A commercial broker knows how to navigate this and is prepared to spend a lot of time finding available properties for you.
Commercial brokers find more potential spaces by using multiple databases and through their contacts in the industry. Often space is located through just plain grunt work (calling every building owner or agent and asking them if they have or will have space for you).
He or she commonly finds properties which are not on the market or are not well advertised that may meet your needs as well. Often, if you have a difficult requirement, an email blast to industry contacts will come up with a number of properties for you to consider.