3 Reasons Why You Should Hire A Commercial Agent When Facing A Vacancy скачать в хорошем качестве

3 Reasons Why You Should Hire A Commercial Agent When Facing A Vacancy

The video discusses three key reasons why an owner of a commercial property facing a vacancy should hire a commercial real estate agent rather than handling the lease themselves. The three reasons are: Knowledge of the market: Commercial real estate agents possess extensive knowledge regarding the local market and zoning regulations. An agent understands zoning regulations, which is critical for determining what types of tenants can legally operate a business in the space. For instance, a retail space may not be zoned for a medical operator. Agents have access to commercial listing service sites, such as Co-Star, Loopnet, and Crexi, allowing them to pull comparable properties that are for lease or have recently leased. Vetting prospective tenants: Agents qualify prospective tenants, which means less wasted time and the securing of a stronger, longer-term, and more qualified tenant. Agents collect a variety of documents either before or after a tour, including a completed application, financial documents (such as tax returns and bank statements), a full credit report, and the tenant's leasing deck or business plan. A thorough examination of a prospect's creditworthiness, financial wherewithal, and proposed business helps mitigate the risk of a future eviction or the tenant defaulting on their lease. Avoiding direct negotiations: Working with an agent allows the property owner to avoid direct negotiations with the tenant. Commercial lease negotiation is often complex, involving negotiating not only the monthly rent but also the lease term length, renewal options, tenant improvements, and maintenance expectations. The agent acts as the owner's representative, creating distance between the owner and the tenant, which can be a relief and helps preserve the landlord-tenant relationship. Overall, a commercial agent accurately prices the space, negotiates the lease on the owner's behalf, and qualifies the tenant, which saves the owner time and stress, and protects their investment.