Tenant and Buyer Representation Benefits
Securing great office space isn’t as straightforward as finding an attractive location. There are a lot of different factors you need to consider. Is the location easily accessible by both employees and clients? Does the neighborhood support a business like yours? Is it in your price range? These and other considerations can make a huge difference in your enjoyment and profitability of a commercial property.
Navigating leases and negotiating prices for both rentals and sales can be difficult without knowledge of the industry. Information relating to what else has sold in the area, how much similar space goes for in the Nashville market, and more will have an affect on how much you should pay for a property.
The best way to ensure you are getting exactly what you need for a fair price is to seek the help of a professional. Tenant representation and buyer representation can make a huge difference in the process of securing commercial property.
Here’s what you stand to gain from securing proper representation.
Knowledge of Local Markets
You might have a good idea about the different areas of Nashville. You might have even visited all of them. However, local knowledge doesn’t necessarily translate to knowledge of local commercial real estate markets.
Each location will have its own affordances and drawbacks. The trick is to find a place that fits your particular needs within your price range. This can be a difficult lottery if you don’t know the market. This knowledge helps you gain a realistic view of your options. Otherwise, a lot of time can be wasted looking at options that won’t actually fit your needs.
Real estate transactions are rarely straightforward. Most other purchases in your life will involve a set price, and then payment of that price. Real estate is different. There are a long list of factors that can affect the final amount paid either in sale or as a monthly rental payment. Knowing how to manipulate these factors puts you in a better position to get a good deal.
However, these factors are not widely-known. Tenant and buyer representation will provide advice on what you can realistically expect from a transaction. It also allows you to turn the transaction into a conversation as your representation will stand up for your best interest.
Commercial property listings aren’t compiled in a singular resource. There are always options that either aren’t listed, aren’t updated, or simply aren’t advertised. Tenant and buyer representation makes their living on finding the perfect locations for their clients. This means they have to have a line on every possible option so they can find the best fit.
This access to a variety of options simply isn’t available to buyers or tenants that choose to conduct a search on their own. And this inability to see all possible options could result in missing out on the perfect office space.
Every piece of commercial property is not created equal. Everybody has their own personal taste and each company has their own set of specific needs. So an office space that is perfect for one company might not work at all for another. It’s important to avoid wasting time looking at properties that aren’t even close to what you’re looking for. Imagine taking the time to view a property only to find out it’s far above your price range.
Tenant and buyer representation can save you this frustration. They’ll weed through the options to find the ones that have the best chance at fitting your specific needs.
Sales contracts and leases can seem like a different language to those of us that aren’t lawyers or real estate professionals. This can lead to people not totally understanding what they become legally obligated to follow.
However, the guidance of professional representation will make you feel a lot better when you sign the final paperwork, whether you’re a buyer or a tenant. They’ll be able to explain what is in the document and even suggest changes in your best interest.
Much of this boils down to tenant and buyer representation offering you the advantages that come through their industry connections. This could come in the form of more possible office space locations, or assistance with the final paperwork. The professionals at Nashville Office Consulting don’t work in a vacuum — we are able to help each other with more locations and ideas to expedite the process of finding your perfect office space.
Tenant representation and buyer representation can offer many benefits to those in the market for commercial property. Office space can seem ubiquitous until you start looking for it yourself. There are plenty of options, but professional help can narrow down your search and get you to signing day much quicker.