When your business is in the expansion stage, growing out of your garage, extra bedroom, or office. It is important to have a vision of what the business will be like in the future. There are certain things to think about, like where are you going? What location will your business follow? Are you looking for a place to impress other professionals or are you dealing with a retail or service audience? It’s 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 the best solution for his client.
Many people think that they can save money by doing their own real estate transaction. 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 execute. It certainly takes time and energy away from running your business. Leasing space is a complicated business. Due to the constantly changing rules and regulations of real estate, relying on professional help who represents your best interests and whom you can trust is smart. It’s 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’re not dealing with a realtor, I’ll let you move in without paying your first month’s rent?” Or if you’re buying a building, the seller says, “I’ll sell it to you at a lower price because there’s no realtor involved.” It’s not going to happen! However, if he asks a real estate agent “What other properties have sold in the last 12 months?”, he will be surprised that he didn’t get the great deal he thought he should have. It is a good idea to work with a real estate agent, in many cases, the owner/seller and the landlord pay the real estate agent’s commission.
If you’re on a budget, a real estate agent can help you find an owner/owner to “build-to-suit” 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, media room, kitchen area, employee room, and a receiving combo. welcome area with table and diapers, and play area for the client’s children. This is a big expense on top of franchise fees and start-up costs, including phone system and copiers, etc. His real estate agent found him a location. Owner/landlord said he would “build to custom” with a 10 year lease.
As an entrepreneur, you’re going to need to rely on a lot of professionals because you can’t know everything about everything on your own. It is best to know who you can use for what information which 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 listings in pocket, the tools to find what you need faster, and the knowledge to get in. Often a good real estate agent is aware of properties that are not yet listed but may be for sale or leased.
