After a long, grueling search, including several overheated bidding wars, Jim and Claire found the home of their dreams. They were ecstatic when their offer was accepted and the transaction
Looking To Lease A Space For Your Business
Sure, real estate professionals are highly sought after when looking to purchase or sell a property. But what about when you are in the market to open or relocate a business? Absolutely you can ride around and look for signs on buildings, make calls and try to get a viewing and waste time trying to figure out if the price is reasonable. But what about the negotiations and contract review? Or better yet, what about having a real estate professional to guide you in the process? Someone who is well versed in the current market on what rents should be going for per square foot, potential traffic for your business type, proper location selection, etc etc etc.
Here are my top 3 reasons why you should hire an agent when looking for commercial space to lease:
1. Availability- Real Estate Agents have access to available rentals as well as sales. Sometimes, within their networks, an agent will have access to properties that may not have hit the market yet. Our emails can get flooded with new listings, coming soons and new properties that are zoned for business use. This could be right up your alley if you are a small business owner or someone who has just invested in their first start up. Who better to have working FOR you than someone who has access to the tools and resources to help you find any and every available space. Agents also have access to box codes and private access information that may not be made known to the general public. So instead of waiting for Landlords to filter messages and call you back, you could get a same day showing.
2. Research- This is key when looking for a home to make your profit. That's right. I said home. Because after all whatever space you decide on will be home to your new business. And with lease terms varying from a few years to a decade, you want to make sure you will be in a location that is right for your needs and comfortable for the profits you are looking to earn. Location could play an important part on a business' ROI. And agents can have access to information on a locations profitability in the past as well as how well certain types of businesses do in particular neighborhoods. Another important factor is knowing how much you should be paying per square footage. You definitely don't want to be paying more than what the market dictates for the location. A good agent is always on top of what average rents should be for a given area which should help your pockets out in the long run.
3. Negotiation- Negotiating your terms to best suit you is always the goal. Remember, the landlord/owner has hired a professional to screen you, so why not hire your own professional to assist you in your due diligence? There is always the possibility of any rental being priced too high and you definitely don't want to lock yourself into terms that could be detrimental in the long run. It's always in your best interest to have an agent to help you gauge where to start. Also knowing what terms are reasonable can aids in how well your business may thrive.
Bottom line, when you're in the market to lease space for business purposes, consult a real estate professional that is knowledgeable about Commercial Rentals. Someone who has the experience necessary to help you and preferably an agent that has worked with commercial sales previously.
If you or someone you know has more questions on Finding Commercial Space for Lease contact Pauline Bowman with eXp Realty. 678-682-1221 or [email protected]
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