An effective broker will assist you the business owner in:
Identifying the right location.
Providing you with the location's true market value which will allow you to negotiate the best possible lease terms.
Developing a strategy to overcome landlord concerns or objections, and helping you to get the best deal.
Leasing commercial space consist of 2 key aspects:
Identifying a location: Location will have a significant impact on the price. The location should be determined by the type of clients/customers you are seeking and how you obtain them. The two most common location setting are classified as:
Walk in business- Typically, these business depend on customers who decide to patronize their business based on seeing it and its convenient access. Located in a highly visible, high traffic areas. For example- Fast Food chains, Convenient stores, etc.…
Destination business- Typically a business that is appointment based or offer a specific niche or product. A destination business requires less visablity. For example- Doctors office, Professional offices, Washer & Dryer distributer, etc.…
Lease Terms: Identifying what fair market value actually is which may be very different from what Landlords, their brokers, and resources like LoopNet claim. Remember most Landlords are asking a higher rate compared to what they will ultimately accept, and the brokers who represent these Landlords are paid more if you pay more. Having a broker representing you the business owner, who knows real market values and the type and amount of concessions a Landlord is likely to accept is vital to negotiating your best possible Lease deal.