My broker doesn’t have much experience; should I be worried?

The answer to this question depends on the size of your lease. If your plans call for a large space with a long lease term, then your broker’s experience is a very important consideration. On the other hand, if you are leasing a small space, then you may be better off using a broker that is fairly new to the business. The reasoning here is that a younger broker is looking to establish himself and will work harder for a small commission. As the tenant, you need to know how much commission your lease is going to generate and then determine how to best get your money’s worth from your broker. If you are working with someone that is new to the business, then you need to understand what kind of training the broker has had. It is also important to know if the broker is working together with an experienced broker or is totally on his own. You need to know what resources the broker has available to him, particularly if he has never leased a space from the landlord and/or listing agent you are negotiating with.

Posted in: Leasing Commercial Real Estate

Facebook IconTwitter IconVisit Us on LinkedInVisit Us on LinkedInVisit Us on LinkedInVisit Us on LinkedIn