Six Ways A Commercial Real Estate Broker Saves You Money
Virtually every business in Manhattan and everyone who wants to start a business here will venture into the commercial real estate market at some point seeking office, loft, retail or showroom space to rent. It is not a journey to take alone, however, because the New York City market has the most savvy landlords, property managers and leasing agents in the world.
An Experienced Realtor Can Help
While you may be a smart business owner and veteran entrepreneur, you are likely a neophyte when it comes to finding and negotiating for space and would benefit greatly from having an experienced realtor at your side. The most time-saving and cost-effective way for you to find new office space in Manhattan is to use the services of a real estate broker. Here are six ways that commercial realtor can help you find the right space:
1. Saving time--You have limited time and you must use that time in the most productive way, which is operating and growing your business in the competitive New York environment. A real estate broker enhances your efficiency by bringing to you a selected number of offerings to consider for your business needs.
2. Experience and expertise—The broker carefully evaluates properties he considers a possible fit for your business by first interviewing you about your company’s needs and plans and matching those needs and plans to available spaces. The broker will not only show you space, but after getting an understanding of your current requirements and future growth targets, he will help you develop a strategic plan to figure out what you require today as well as in the future.
3. Complete access to the New York City commercial real estate market--Your broker has virtually complete access to every office, loft, showroom, medical and retail space in Manhattan and the boroughs. The commercial listings accessible to the general public are usually inaccurate, incomplete and can be a waste of your valuable time and effort leading nowhere.
4. Familiarity with buildings and landlords—When the experienced broker is not serving client needs, he is touring buildings and meeting with landlord representatives about new or existing space that is coming on market. He knows the market and the participants and can put you in a situation that best fits your business needs. Taking space is a long-term commitment. When you rent an office, loft or showroom, you are not only getting space but also a landlord. You want to ensure that the landlord with whom you will be dealing will be responsive to your needs when you have a problem or issue down the road.
5. Negotiating leverage--A savvy, knowledgeable New York City real estate broker provides you with negotiating leverage. The broker knows how to package your offer and present your company in the most favorable light. An experienced broker knows what concessions to ask of a landlord and how to ask for them. Furthermore, when a broker represents a tenant, the owner understands that the tenant is being exposed to competitive properties and will, as a result, be more forthcoming.
6. Comparing multiple opportunities—The broker plays a crucial role in evaluating and comparing multiple opportunities that may be available in the market. For example, in considering two Manhattan office spaces, one may offer a lower lease rate over the other. To the inexperienced eye, this may seem like a no-brainer--go with the lower priced NYC office rent but the broker can help determine the opportunity with the best overall business terms.
For a more in depth explanation contact Alan Rosinsky at (212) 447-5403, Principal Broker of Metro Manhattan Office Space, Inc.
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