As a tenant when you work with a commercial real estate agent you should expect to be well represented. You want to work with a commercial realtor that is honest, transparent, and has your best interest in mind. Just because the agent works for the biggest CRE firm in town does not mean they will provide better service than an agent that works for a smaller company. Some of the best commercial realtors in the business work with small boutique commercial real estate companies or are independent.
When I ask tenants what the most important characteristics of a commercial realtor are most respond with the below.
- Quick to respond
- Great communicators
- Find spaces that meet their current and future business needs
- Negotiate good deals
- Have update to date market knowledge
- Are good negotiators
- Have access to hard to find listings
- Not salesy
- Don’t push a representation agreement in their face until after proving that they are helpful and will add value
It’s a no brainer that every tenant wants to find the best space and negotiate the best deal. But when I asked them this question the number one response was that they want their commercial agent to communicate and be responsive. They also don’t want to have to sign any exclusive representation agreements until after the agent provides examples of value. How can they be expected to sign a contract with an agent that they just met?
Tenants like to work with commercial realtors that are service oriented and not just chasing another deal. Once they feel comfortable and trust and agent they will be more comfortable signing an agreement. However commercial realtors must give and provide value first.