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After the economic impact of the last 12 months some of us may be inclined to go it alone when it comes to securing a new office space, but could you be losing out by not using a commercial property tenant agent?
Appointing a commercial property tenant agent will help relieve some of the risk of buying or renting an office space. Whilst solicitors will advise you on the legal terms of the lease and a building surveyor can advise you on the condition, neither will have the qualifications to advise you on the price, rent free period or the projections.
The main reason given for not using an agent is the want to “save” on the agent’s fee. The reality is that tenants that do not you use an agent spend significantly more overall. Commercial property tenant agents’ fees are generally based on a percentage of the savings they make you. Landlords will have a commercial property agent working on their behalf, so going into negotiations without one yourself will already start you at a disadvantage. Landlord agents and tenant agents will have very good working relationships, so having a good established agent on your side will likely work in your favour when it comes to negotiations as the landlord agent will want to maintain this good relationship by offering a good deal.
As well as the possible money saved with lease negotiations, a tenant agent will also save you time and open up opportunities to office space you didn’t even know existed. When looking to rent or buy commercial property, using a tenant agent will enable you to relinquish the stress and time involved in the process.