Why Use a Tenant Representative
Exactly why would somebody want to have a Tenant Representative involved in the process of buying or leasing commercial property? Quite simply, because your tenant representative has a fiduciary duty to look out for your best interest before that of any other party in the transaction. The Landlord's representative has this same relationship with their client, meaning that anything you tell them that helps them negotiate better terms, they are obligated to tell the Landlord. You wouldn't just "trust" the other parties lawyer in reviewing legal documents, would you? The Landlord's representative has to look out for the Landlord because it is their duty to them legally.
Secondly, having a trusted real estate advisor on your team will save you countless hours of searching. With access to the latest technology, knowledge of the local market and many times having seen the buildings you are considering, your representative can often times find many more properties that will fit your needs than you will ever be able to on your own as well as provide insight into possible pitfalls of a location that you may have otherwise not considered.
Since a tenant representative has no affiliation to a particular seller or Landlord, you may find that you are presented with many more options from many more sellers in the area than if you deal with a property owner, or his Agent, directly. A Tenant Representative is looking to find you the best space at the best price, regardless of who the seller is.
Real estate transactions can often be very complicated. Having the proper representation during this process will not only make the process easier, but will save you time as well as possible trouble down the road. Your tenant representative will make sure that you know exactly what you're agreeing to when it comes time to sign a lease or purchase agreement.
But what about the cost you ask? That's a great question. While ultimately it is up to you and your Tenant Representative to negotiate the terms of your contract, most often your representative is paid by the seller at closing or lease signing. This means in many cases you can enjoy a premium service without spending anything more than you would have otherwise. When you factor in the possible savings that your representative could negotiate on your behalf, you actually could save money while making the process easier and saving you time.
Secondly, having a trusted real estate advisor on your team will save you countless hours of searching. With access to the latest technology, knowledge of the local market and many times having seen the buildings you are considering, your representative can often times find many more properties that will fit your needs than you will ever be able to on your own as well as provide insight into possible pitfalls of a location that you may have otherwise not considered.
Since a tenant representative has no affiliation to a particular seller or Landlord, you may find that you are presented with many more options from many more sellers in the area than if you deal with a property owner, or his Agent, directly. A Tenant Representative is looking to find you the best space at the best price, regardless of who the seller is.
Real estate transactions can often be very complicated. Having the proper representation during this process will not only make the process easier, but will save you time as well as possible trouble down the road. Your tenant representative will make sure that you know exactly what you're agreeing to when it comes time to sign a lease or purchase agreement.
But what about the cost you ask? That's a great question. While ultimately it is up to you and your Tenant Representative to negotiate the terms of your contract, most often your representative is paid by the seller at closing or lease signing. This means in many cases you can enjoy a premium service without spending anything more than you would have otherwise. When you factor in the possible savings that your representative could negotiate on your behalf, you actually could save money while making the process easier and saving you time.