Why It’s Smart to Use a Commercial Real Estate Agent to List Your Lease Space -
There is a constant discussion about the benefits of having a property manager or commercial real estate agent advertise a space for lease.
Property managers are often familiar with the current tenants, but commercial real estate agents who specialize in commercial properties are subject to rigorous training and are familiar with the entire marketplace.
Following are three good reasons to list your lease space with a commercial real estate agent:
Commercial Real Estate Agents may have prequalified clients that might be interested in your commercial space. In the event they do not have a specific client in mind, they may be familiar with another agent or a client that is looking for similar space. Commercial agent's relationships with other agents and tenants could differentiate your site from another. Commercial entities also appreciate the legwork that an agent does to help them understand how the space might be a fit financially, demographically, or functionally. The agent can also save you legal expense by negotiating LOI's to deal point before you involve your CRE attorney to negotiate the language of the lease document. Unlike your CRE attorney, agents aren't paid until a lease is signed, so the preliminary work that they do to get a deal to the point of a lease document can mitigate some of your legal expense. Seasoned commercial leasing agents can make the handoff to your legal counsel a much more efficient process.
Commercial Real Estate Agents have the knowledge to market and promote a property effectively. Not to say property management companies can’t (there are groups that provide both services effectively), but agents typically subscribe to expensive listing web sites that one or two properties may not justify the expense. Most listing sites have different levels of exposure that come with tiers of expense. To justify the highest level of exposure an agent typically needs a portfolio of lease and/or brokerage listings. Agents invest time and money into their own web sites and large social media networks to allow them to market a property effectively. Social media is a growing avenue for exposing properties. Make sure to understand how your agent leverages their social networks to promote properties.
Commercial Real Estate Agents are familiar with the entire commercial marketplace. This means they are aware of the demand for leased premises in the area and comparable sale and lease prices. They also own the financial analysis training and lease negotiation skills to close a deal once a prospect is in play. Property managers primarily focus on the leasable aspects of the market. This limits their ability to market to a wide range of prospects and attract the most highly qualified tenants. Hire great properties managers to maintain your assets, seasoned commercial real estate agents to fill them up, and deal maker attorneys to finalize the language of your next commercial lease deal!
Contact a San Antonio Commercial Real Estate Agent today:
Luke LeGrand, ePRO 210-843-5853
Why It’s Smart to Use a Commercial Real Estate Agent to List Your Lease Space