When a building owner wants their space leased, it is typical to engage a real estate broker, in this case called a leasing agent, to market the space and aid in its leasing. This could include providing a marketing campaign, showing the property to prospective tenants, helping the building owner through the process of choosing a tenant, negotiating critical lease terms and closing a transaction with a signed lease.
When a business owner wants to find a space in which to conduct business, it is typical to engage a real estate broker, in this case called a tenant representative. As a representative for the tenant, the broker will look for spaces of the right type, size, location and price to present as options. Because the broker understands the local commercial real estate market and may be aware of off-market opportunities, they can present more viable and competitive options than a simple google search. A tenant representative then helps the business owner through the process of negotiating lease terms and signing a lease for their new space.
Regardless of which side of the deal you are on, a commercial real estate broker can be an incredible advantage to finding and accomplishing the next steps for your business.
– Joe Palms, CCIM, Associate Broker