5 Questions to Ask Before Hiring a Tenant Representative
Finding the perfect company for your business can be adifficult task. Getting the right office space and negotiating the right pricecan be difficult than it may seem. It will also cost you your time, money andwork. Hiring an ideal tenant from a reputable company can save you both your timeand money. Also, there are many tenant representatives out there that you mightfind it hard to find the right one. To make the selection much easier for youwe have come up with a list of questions to ask before hiring a commercial real estate broker.
- Is the tenant representative working for a reputable company?
It’s important to ensure that the tenant representative is working for a reputable company. Resources and reputation are essential aspects when hiring a tenant representative. The brokerage firm from which the representative is from should have a good reputation among its clients.
- What type of tenant representation services do they offer?
Every tenant representative is different from the other, and they all offer different services. This is why it’s a good thing to ask the tenant representative the kind of services which they offer before hiring them. Some tenant brokers will be with you each step of the way and others won’t take you through the whole process. Hence it’s important to ask questions to know if the tenant will be with you throughout the whole process.
- Ask the tenant whom they usually represent?
You should also ask the tenant representative if they only represent tenants and not landlords. This is important for you as you will want the tenant representative to be on the tenant’s side and not on the landlord’s side. If the representative is representing the landlord too, you might end up having conflicted interest.
- How much experience the representative has?
Experience does not mean the number of years the representative has been in the commercial real estate industry. Instead, you should ask them how experienced they are with the local market and finding the type of property you want. It’s essential for you to ask such a question to measure how experienced the representative is. Also, you should ensure that the broker has a great list of clients and connections and a ready market in which they can get resources. This will give you a clear understanding of how much the tenant representative knows.
- What the process is like?
Ask the tenant representative what the process is like when you want to lease or buy a commercial office space. Ask them to guide you through the whole procedure and guide you step by step from the first process to the end. Also, ask them what the role of the tenant representative is in the whole process.
Once you ask all the above questions to the tenant-broker finding the right one will not be that difficult. The right tenant representative will help you to get a good commercial office space for your business.