One of the common misconceptions is that by choosing to work with a national commercial real estate company you are also choosing a bigger better company vs a smaller one. National companies often do have large offices however they don’t necessarily have a large office or strong presence in every city. Also the overall size of a company is not an indication of how better or strong they are in a specific market. For example just because you like your Austin commercial real estate broker does not mean you will like your Chicago commercial agent. Commercial real estate is a highly individual and local industry and a national firm could have a strong presence in one market however be a small player in another.
Also, just because a commercial real estate company is large does not mean you’ll end up working with an experienced agent. In many cases if you are a small tenant or buyer you may get handed off to a less experienced or new commercial agent.
At the end of the day when choosing a commercial real estate company you want to ensure that the person assigned to you has experience. And working with a local company has it’s benefits.
Why Use a Local Austin Tx Commercial Real Estate Firm
- Quick & Efficient – Local commercial real estate companies have less red tape and HR processes than national firms. They are more nimble and can respond more quickly when necessary.
- Local Austin Commercial Real Estate Agents – Sometimes a commercial broker from a national firm might be based in another city, however represents a client with an Austin, Tx presence. Many times I see them fly into town to search for space and negotiate deals for them . If they do not live and work here how well do you think they know the market compared to a local agent?
- Austin Commercial Real Estate Knowledge and Experience – Local agents keep a constant pulse on the market 24/7. The fact that they live here gives them a full understanding of the entire market (retail, residential, and commercial) which gives them insight into trends that will influence real estate decisions. When you are negotiating commercial space you want someone with commercial real estate transaction experience in Austin Tx.
- Less Commission Splits – Local brokers can be more attentive to your needs. After a lease is executed a national broker has to split a larger portion of their commission with their company (the house). They may also have to split again with other team members. Because a national broker may make less money on a deal then a local broker they may be less attentive to your needs. A local broker has more time to spend with you since a national broker has to work more deals to make the same amount of money as a local broker .
- Freedom to Choose Who You Work With – National companies have a network of offices in different cities which means you are typically forced to work with a certain broker in each market. You may like your agent in Chicago, however that does not mean you will like the person you are assigned to in Austin, Tx. With a local firm you have the ability to choose the agent you want to work with. Also in many cases they are members of organizations such as CCIM or SIOR which gives them a national presence if needed.
- Better Agent Retention – Agents at national firms tend to bounce around from shop to shop while local agents tend to stick to one company longer.
- More Experience – If you are a small company you may get handed off to the new guy. This means that you will be working with a commercial realtor with little to no experience. With a local firm such as Austin Tenant Advisors you are working with the owner of the company who has over 12 years experience in commercial real estate as well as over 12 years of business, sales, marketing, and management experience.