When your business is in the expansion stage, growing from your garage, guest bedroom, or office. It is important to have a vision of what the business will be in the future. There are certain things to think about, for example, where will it go? What location suits your business? Are you looking for a place to simply impress other professionals or are you dealing with a retail or service audience? It is worth your effort to find the right real estate broker to help you locate the space to buy or lease a property that suits your needs.
If an entrepreneur contacts a real estate agent for real estate advice, the real estate agent should take the time to get to know their client, their business, their hopes and dreams and, most importantly, their budget. With all this knowledge, the real estate agent is more aware of what is the best solution for his client.
Many people think that they can save money by doing their own real estate transactions. There are many things today that can go wrong, especially when moving into a commercial space. This is a serious financial commitment. In many cases, rent is the second highest expense after payroll.
Depending on the nature of your business and the market, a business relocation can take six months or more to complete. It certainly takes time and energy from managing your business. Leasing a space is a complicated business. Due to ever-changing real estate rules and regulations, relying on professional help that represents your best interests and whom you can trust is smart. It is also important to ask your real estate agent to recommend a good real estate attorney, because a lease is a specialized document.
Have you ever heard a landlord say, “If you are not dealing with a real estate broker, I will let you move in without paying the first month’s rent”? Or if you are buying a building, the seller says “I will sell it to you for a lower price because there are no real estate agents involved.” It’s not going to happen! However, if you ask a real estate agent “What other properties have been sold in the last 12 months?”, You will be surprised that you did not get the great deal that you thought you should have. It is a good idea to work with a real estate agent, in many cases the owner / seller and landlord pay the real estate agent commission.
If you are on a budget, a real estate agent can help you find a landlord / landlord who “builds to order” for what you need. For example, this is a true story: There was a successful entrepreneur who wanted to open an impressive insurance franchise office, which would have a minimum of 15 offices, 2 conference rooms, a press room, a kitchen area, an employee lounge, and a reception combo. greeting area with table and capes, and playground for the client’s children. This is a big expense in addition to franchise fees and startup costs, including the phone system and copiers, etc. His real estate agent found a location for him. The owner said he would “build to order” with a 10-year lease.
As an entrepreneur, you will need to have many professionals because you cannot know everything about everything yourself. Better to know who you can use for what information will save you time and money. A good real estate agent can connect you with other professionals to help make buying, selling, or leasing easier. To find the best financing or other related services, it is common for real estate agents to have a network of banks, mortgage lenders, appraisers, and dealers that they can refer you to. A professional real estate agent always has the pocket listings, the tools to find what you need faster, and the knowledge to get in. Often times, a good real estate agent is aware of properties that are not yet listed, but may be for sale or lease.