Roles for Commercial Real Estate Brokers
Since commercial real estate brokers can function in different ways, it pays to know exactly what role a broker is playing in a landlord-tenant transaction. Here are some guidelines.
How Commercial Real Estate Brokers Work
Many small business owners find it invaluable to enlist a professional real estate broker’s help in finding rental space, especially if your landlord will have one, and particularly if your needs are unique or space is at a premium.
How to Look for a Commercial Real Estate Broker
Before starting your search for rental space, think carefully about the kind of location and building that will best suit your business, determine the maximum rent you’re willing to pay, and set other priorities, such as the size and configuration of the rental space.
Signing a Contract With a Commercial Real Estate Broker
Just as there’s no such thing as a standard lease, there’s no such thing as a standard broker’s contract. It’s all negotiable.
Handling Problems With Your Commercial Real Estate Broker
If you’re careful when choosing a broker and spell out your agreement in a contract, you’ll reduce the chances of disputes later—but there’s no guarantee that all will be smooth sailing.