Why Hire a Tenant Rep Broker?
Much like your corporate counsel or financial adviser, Cushman & Wakefield’s Tenant Advisory professionals act as your exclusive advocate pertaining to your real estate issues. While you could represent your company in court or do your own taxes, is this really in your company’s best interest? With real estate playing an increasingly larger role in the bottom line, it is critical that you retain an expert to help you analyze your needs and provide optimum real estate solutions.
BROKER ROLE |
TENANT BENEFIT |
|
| Saves Time | Reviews requirements and compares potential locations to focus on the most desirable options | |
| Creates Competition | Shows every property available that meets criteria and communicates those opportunities with landlord | |
| Protects Tenant | Navigates pitfalls from issues that arise in lease negotiations, protecting the tenant at every turn | |
| Advises Objectively | Keeps emotions out of discussions, representing your interests with an organizes, focused approach | |
| Maximizes Benefits | Negotiates with landlord to ensure tenant build-out improvements are maximized | |
| Keeps Records | Arms tenant with valuable information that may help settle disputes after new lease commences | |
| Takes the Lead | Gives tenant more time to focus on their core business - real estate transactions require constant attention |
Cushman & Wakefield’s methodology is unique in that we gain a thorough understanding of our clients’ financial, operational, and qualitative objectives before beginning the real estate decision making process. By helping our clients build internal consensus regarding their real estate strategy at an early stage, we are able to position them to take advantage of timely opportunities.
Common Misconceptions
"We don't need advice, we've done this before."
Tenants represented by real estate advisors create the impression to landlords that they're serious about relocating, motivating the landlord to offer the most competitive rate in order to secure or retain them.
"I have a good relationship with my landlord. They provided me comparable deals done in the market."
Landlords will only cite comparable leases that are most favorable to their position. In order to receive a complete view of market activity and trends, a company needs a trusted advisor representing their interests who can find comps favoring the tenant's position.
"I don't want to go through the hassle when I know I'm going to renew."
A real estate advisor minimizes the hassle of negotiation while also generating leverage needed in order to drive a more fair transaction. Even though the goal is to stay, when the landlord sees a credible threat of moving they are usually willing to give better terms.
"I don't want to pay to use a broker."
The landlord's budget includes brokerage fees within their rent structure. If a tenant represents themselves, the landlord typically allocates the fee budgeted for the tenant broker to the owner's agent, the asset or the property manager. It costs you nothing extra to use a broker.
"The landlord says my rent will go up if I have representation."
Full commission is accounted for regardless if tenant has representation, because either the landlord's broker or the landlord receives the fee, whether or not the tenant's interests are represented. The reality is that in all instances a good advisor will save more money than the commission paid.
Cushman & Wakefield helps clients improve speed to market, provide cost and risk reduction, and optimize location and labor productivity — all of which have a significant impact on cash flow and, ultimately, business performance. Whether it’s optimizing your network and inventory or securing the right facility in the right location in the right market, we assist you along the entire continuum of the supply chain. Many of the most recognizable global companies, representing a broad range of industry segments, have trusted our expertise on projects throughout the world.