A.
The TRA+HOK Model is an industry first; an innovative,
entrepreneurial, "first mover" business model for tenant representation
requiring a paradigm shift from the past, more arcane real estate brokerage
model.No other tenant rep agent or
company can deliver these services. Our more formal introduction will explain
all of this.
Q: How is it that all the great services are at no cost to the tenant? A: The building owner pays the fee as part of their ordinary cost of sales and tenant finish, no differently than any other broker.
Q: I get overwhelmed by broker cold calls. Why, and How do I know who to work with?
A: Brokers get your leasing information from various sources. You will be contacted by agents for other buildings and by tenant representatives. It can be overwhelming; we call this "Broker Inundation". But there is a simple method to manage all the contacts and to make the most informed decision which benefits you the most. (Click Here for more info on "Broker Inundation")
Q: How do tenants, large and small, have the fortune of having one of the finest architectural firms working on their assignments? A: Tenant Rep Agency investigated many fine firms for this aspect. HOK is extremely dedicated to office leasing assignments through HOK's Interiors Division and has superior in-house capability in every topic. Even 5,000 sq. ft. tenants get the same stellar service typically provided to larger tenants.
Q: Why do I need the whole scope of services?
A: Every office lease consists of the same road map of needs including needs assessment, building evaluations, test fits, space planning, operating expense evaluation, tenant finish evaluation, and many more. Tenant Rep Agency accepts assignments only when the road map of details can be adequately and properly deployed to achieve the highest and best results for its client.
Q: Do I really need all this?
A: Tenants are experts in their business. TRA is expert in Tenants. We do this every day while tenants may do this every half decade. Bringing the finest in tenant representation and tenant development under one roof at no cost to the tenant to tenants of all sizes solves office leasing perfectly.
Q: I am very happy with
the agent we have used before.
A: All TRA clients have that in common; they all had previous
agents until they understood the value and benefits of TRA. No other tenant rep
agent or company can deliver these services. Our more formal introduction will
explain all of this.
Q: What do you mean "No Conflict of Interest"?
A: TRA never represents landlords. Many TRA competitors represent landlords, investors, developments, industrial, land & retail real estate, and take listings. This is why different lawyers represent different parties. (For more info, click here)
Q: How is TRA and HOK connected? A: Each client receives the advantages of both firms via a singularly-unique exclusive teaming pact. When the client retains Tenant Rep Agency via representation agreement, all of the necessary Tenant Development evaluations, interiors work and project management of the office leasing assignment are automatically functioned exclusively by HOK, at no cost to the tenant.
Q:What if I just want representation for a new location and not if I just renew at my present location?
A: TRA+HOK provides you with all the information so that all location decisions are made objectively. You are not simply "renewing", you are agreeing to lease the same space AGAIN, and the full benefits of a new lease should be available. Tenants need to make decisions in the PRESENCE of all information, not in the absence of it. This inlcudes existing locations. Tenant Rep Agency accepts assignments and provides HOK Tenant Development service only with no exclusions such as your present location. Many landlord attempt to coerce their existing tenants that no brokerage is permitted. This would be a violation of the Buyer's Agency Laws wherein tenants are free to retain independent representation.
Q: Why not just use the landlord architect?
A: The Tenant Development activity of needs assessment and programming starts sometimes months before landlords are engaged. We deliver a single source, tenant-controlled expert to maintain continuity, collective memory and control of the schedule. This avoids having to duplicate efforts with multiple landlord architects. TRA even can price construction inhouse, BEFORE it ever goes to the landord... a big time and money saver. Also, the landlord architect is frequently charged with protecting the landlord's interest and money rather than advocating and representing your company's interests.
Q: How is TRA compensated? A: Tenant Rep Agency offices are real estate brokerage agencies receiving its fixed percentage commission fee paid for by the landlord. Landlords unable or unwilling to pay fees are typically disqualified.
Q: How is HOK compensated?
A: Every lease requires an interiors architect for purposes of needs assessment, preliminary test fits and space planning. And for construction, it requires cost estimating, construction planning and project management. The tenant finish allowance for construction includes these costs. Landlords unable or unwilling to pay tenant finish allowance are typically disqualified.
Q: Will the tenant finish allowance from the landlord cover everything?
A: It is impossible to know what your needs are compared to what each different building tenant finish allowance is offering. In some cases the allowance covers the cost entirely, in other cases it does not. The architect will evaluate each allowance and, more importantly, the existing conditions at each building. Only then can the comparison with the cost of your design needs be completed.
Q: What if a landlord will not permit architect involvement?
A: An interiors architect is required for all Tenant Rep Agency assignments, including requirement for test fits and preliminary space planning. A landlord inhibiting these basic-but-essential needs will be disqualified. Typically, TRA clients do not get exposed to difficult landlords as they disqualify themselves.
Q: What if I have an architect I want to use to design my new offices?
A: HOK will still be involved for all the Tenant Rep Agency preparatory needs assessment and preliminary building evaluations. After that, HOK and your architect may coordinate and delineate what work is to be shared.
Q: Can the tenant also use HOK for furniture and corporate needs beyond the office construction?
A: Yes. This continuity works well as the architect has had seamless involvement since the beginning.
Q: What if my building owner just won't agree to TRA's brokerage involvement?
A: Building owners occasionally attempt to coerce tenants to "just renew" by suggesting no brokerage will be included. In many states there are real estate buyer's agency laws specifically for the tenant which landlords still ignore. These laws ensure your representation. Some landlords are just too cheap or arrogant and ignore your lawful representation. If landlords persist, we would indicate that they may be disqualified which usually remedies their arogance quickly. Your decision to remain would be based on the full complement of TRA+HOK services, not on any coercion by an arrogant landlord. Tenant Rep Agency accepts assignments and provides HOK Tenant Development service only with no exclusions such as your present location.
Q: What are the advantages of hiring Tenant Rep Agency for my present location? A: To bring in the full force of the competitive, open market where frequently this is ignored; and to fully assess your company needs, objectively, in the freedom from any undue subjective influence by pre-existing relationships, office space, or prior decisions.
