There are numerous benefits to hiring a commercial broker, whether you are on the tenant side or the landlord side. So, let’s take a look at some of the biggest reasons you can’t afford to go it alone.
Benefits of a Commercial Landlord Broker
When you have vacancies to fill or a commercial property to sell, a commercial broker can help you develop an in-depth understanding of your assets, attract high-quality tenants or buyers, and enhance the investment value of your property.
- A commercial broker can help you avoid costly vacancies and lease your space quicker. This is one of the most common problems faced by landlords. However, an experienced broker can not only help you better market your property, but they also have established relationships with other brokers in the area and can help attract desirable tenants much quicker than you could on your own.
- The right broker can help ensure your property performs at or above the market. The second most common problem landlords have is a property that isn’t performing as well as other comparable spaces in the market (low rental rate, high tenant turnover, prolonged vacancies, etc.). Commercial brokers, however, have access to up-to-date market data, databases, and tools that track industry trends, vacancy rates, and comparable properties to make sure your building performs on par with others in the area.
- An experienced broker has access to reputable listing sites. This means that your property will be more visible – seen by as many eyes as possible – and generate increased demand with possible tenants.
- Hiring a commercial broker saves you time. Most landlords do not have the time to devote hours upon hours to properly market a property. As we mentioned already, this is where a landlord rep can help. These brokers are experts at marketing commercial properties and attracting high-quality tenants.
- A landlord rep gives you leverage. With access to data and invaluable industry knowledge and existing relationships with tenant reps, a commercial broker can help give you the leverage you need to maximize the ROI on your property.
Benefits of a Commercial Tenant Broker
Every business, small or large, in every industry, healthcare, retail, distribution, food, etc., can benefit from an experienced commercial broker. While it is true that you could find a commercial property on your own and negotiate the terms of your lease without tenant representation, there are several benefits to having an experienced broker in your corner.
- An experienced commercial broker knows the Maryland commercial real estate market inside and out. They know the landlords, the properties, the buyers and sellers.
- Working with a broker gives you access to industry data. Your broker has access to up-to-date market data, databases, and tools that track industry trends, vacancy rates, and comparable properties.
- Working with an experienced commercial broker can help save your business money. Commercial real estate is often a large part of a company’s overhead expenses. An experienced broker has the industry knowledge you need to negotiate terms that are not just favorable for your business now, but also in the future.
- An experienced broker can also help save you time. Instead of spending your precious time educating yourself on the Maryland commercial real estate market, searching countless property listings, and then negotiating the purchase or lease of that property on your own, a commercial broker can help.
- Hiring the right broker gives you leverage. Brokers not only have established relationships with landlords and landlord brokers, but also have access to comparable building data and market data that provide additional leverage and help ensure that you don’t end up paying above the current real estate market.
United Development Realty is an Experienced Commercial Broker in Maryland
United Development Realty is a commercial real estate brokerage firm in Maryland specializing in tenant representation, landlord representation, lease renewals, property management, and consulting. We are ready to help you throughout every step of the commercial real estate process. Our client-first approach ensures that your unique needs are met. We take the time to get to know each and every client, their vision, objectives, and goals. Then, once we fully understand their business and its unique needs, we can assist them through a tailored package of services.
At United Development Realty, we immerse ourselves in real estate not just because we love it, but because it is good for our clients.
Please call our office (locations in Bethesda 240-221-1976 and Fells Point 410-522-1632) to get in touch with a licensed commercial broker today.