+ Why should my company use a tenant representation firm?
Commercial real estate is complicated. Think of it as a legal or accounting project, you always go to the specialist to ensure your needs are met. Your tenant agent makes all the calls, confirms availability, verifies all the economic deal points and negotiates on your behalf getting you the best deal. Their market knowledge and understanding of lease/purchase documents allows the tenant to focus on their business, saving them time and money. A tenant rep broker exclusively represents you the tenant. There are no conflicts of interest with the landlords. The fiduciary duty is always to the tenant whereas if you negotiate direct with a landlord or landlord representative, i.e. listing broker that person will never have your interests in mind.
+ How much will your services cost my company?
Zero. The Landlord or Seller traditionally pays the commissions based on a listing agreement with the owner’s brokerage firm. When the transaction is complete, the owner pays the commission and it is split between Hackett Real Estate Solutions and the listing broker.
Some tenants think that if they negotiate direct with the listing broker without hiring representation they save money. The reality is the commission is already built into the transaction, by not hiring representation, all they are doing is doubling the fee for the listing broker who only has a fiduciary duty to their Landlord or Seller.
+ Why does my company need to hire a tenant broker when the building has a listing broker?
The building owner’s broker will always owe their fiduciary duty to their landlord and get the best economic deal for their landlord. HRES advocates solely for the tenant ensuring their needs are protected throughout the transaction.
+ How much time should my company allow when looking for space?
The best answer is as much as possible. A commercial lease or purchase entails more than just identifying the target property and negotiating the transaction, you will need to factor time for furniture acquisition and layout, hiring staff, web page design, IT and phone line set-up, racking in the warehouse, build-out of tenant improvements, etc. To be safe, give your company at least three to six months to find a new home. The larger the space requirement, the more time you should allow.
+ Who will my company be working with throughout the transaction?
This is one of my favorite questions. The answer is Ian Hackett. Ian will handle the transaction from start to finish. Hackett Real Estate Solutions does not believe in handing off a tenant to a junior partner or runner. You will always be dealing with the seasoned veteran with 19 years of experience. There is a good reason why Hackett Real Estate Solutions has so much repeat business. Clients trust that their needs are being met and Ian is always there to take their call. Please see TESTIMONIALS.