Why would you listen to tenant rep brokers about why you should use a tenant rep broker? The fact that you clicked on this post, despite your likely suspicion that we’re just trying to sell you something is flattering. Of course we want you to use a broker, it’s great to be needed and important! It’s more than that though. All egos and possible profit aside, bottom line is-- you should be represented-- whether it’s by LDG or any other firm. We will shoot you straight, and let you know exactly why having a broker is in your best interest:
1. Tenant representation does not cost you anything.
In most cases, the tenant rep broker is paid for by the landlord. We do the initial work for free, in hopes that the client will allow us to represent them in the transaction. Because the landlords benefit from a tenant rep bringing potential renters to their space, the commission for brokerage that is budgeted for by the landlord is typically split between both the landlord and tenant brokers. So, if you aren’t represented, all of that money could be allocated to the broker negotiating against you. This does not mean we advocate for the landlord’s interests. The success of a tenant representation firm’s business is contingent on our ability to fight for our clients, not the landlords.
2. Not to brag, but we are the experts.
You have important things to do, and mastering a new profession would be time consuming and frustrating. Spending our entire workday touring and negotiating for spaces around San Diego builds a level of market expertise that can’t be picked up in the few hours someone might spend becoming their own representative. Not to mention, leases can often be unclear. Negotiating for yourself when you aren’t fluent in lease language could be incredibly disadvantageous to your business. Brokers are exceptional lease decoders and can make sure that nothing unfair to the tenant slips through the cracks. Additionally, your broker can help to prioritize your needs and make sure that you don’t sacrifice features that would maximize your company’s success. Hiring a Tenant Rep Broker makes it so you’re only required to: pick from a list of spaces, tour them, agree to terms, and sign a lease. Having an expert in your corner to answer all your questions and provide insight, not only speeds things up, but also helps build confidence for when it comes time to make decisions.
3. You want access to all the options
There’s a level of exclusivity when it comes to property knowledge. A lot of the websites accessible by the public often don’t have the most up to date information. In reality, these sites include spaces may no longer be available, or you could be missing out on the properties best suited for your business. Brokers pay for services that show updated listings, and through their industry connections, often get an inside scoop on spaces that become available before they’re listed at all.
4. Trustworthy connections
Our connections don’t come in handy for finding spaces alone. During the rental process, there are a few steps where input from other professionals is either required or helpful. Having a certificate of general commercial liability insurance is a requirement before a landlord hands over the keys, so a tenant has to connect with an insurance agent. We suggest hiring a lawyer to look over the lease. Also, if you’re interested in a buildout, your broker can introduce you to their favorite architects and interior designers. Whether you’re new to San Diego or the commercial real estate process, having a trusted advisor connect you to their preferred contacts can insure you have a great team on your side. There’s also an added bonus if your business is new to the area. Since we work with a variety of tenants around the county, brokers could be a great asset when building your San Diego network.
Of course, we would want you to use a tenant rep firm, but there’s no disputing the benefits. There are few deals in business where consultation and advice services are given for free, and we’re lucky to provide one of those opportunities. Regardless of the firm, maximize your company’s savings, time and property effectiveness, by getting a tenant rep broker in your corner.
