Everything is negotiable; you just have to know what to ask for.
When negotiating a deal, there are three important rules of thumb that apply:
- Do the research
- Don’t rush – Take your time
- Be prepared to walk away from the deal if it doesn’t meet your expectations
These three tips are applicable in any negotiating situation, whether you are buying a car, a new home, or leasing 250,000 sf. ft of office space.
When you work with an experienced commercial real estate agent, you will want to be sure that they have the skills set needed to negotiate the best deal for you.
Structuring commercial leases and purchases is a multifaceted matter. It is crucial to have someone on your side of the table armed with knowledge, experience, and expertise of the market place and current market conditions, and does it every day for a living. Someone who understands the complexity of the commercial real estate process and is looking out for YOUR best interests. You want a skilled commercial real estate negotiator in your corner.
A skilled commercial real estate negotiator KNOWS what to look for and ask for in every commercial real estate transaction, whether it is a lease, purchase or sale transaction. They have done the research and have reviewed the comparables in the marketplace and understand what constitutes a fair deal, and that doesn’t always equate to negotiating on price. A skilled negotiator knows how to determine and ask for additional incentives. They have mastered the art of negotiation.
For example, when working with a prospective tenant, a skilled commercial real estate negotiator will know to explore negotiating options such as tenant expenses, moving expenses and oftentimes free rent based on the terms of the lease. These are items that a non-skilled negotiator would leave on the table.
There is a wide range of negotiating opportunity in every single commercial real estate transaction. You just have to know what to ask for it. When you select to work with an experienced and knowledgeable commercial real estate agent, you have the power and expertise behind you to assure that you get the best possible deal available.