Process and Project Management
It is the whole process, from needs assessment to your move in, which is managed. Teaming of specialists in Tenant Representation and Architectural Service assures comprehensive project management INHOUSE and not assembled by various disconnected vendors.
Landlord or Tenant Market
During the glory days of the tenant's market when two years free rent was in vogue, the agent was more of a glorified delivery person, simply poring over which pic-nic basket to take. However, as the market turns more to the favor of the Landlord, tenants find out fast that every foot of ground in the negotiations is difficult.
Advocacy
Advocacy for the tenant was the beginning point for what is now required by all businesses; to manage the office leasing element no differently than any other great liability. In a manner of speaking, the office space should be looked at as a partner in your Goals and Plans, a tool to help. Look at this from a long range planning point of view. Allow your facility to be an asset or partner to that plan, not just office space; and although office space is real estate per se, real estate only plays a role in the total picture--don't think otherwise.
Mastery Experience
Mastery experience in Tenant Representation and Architecture available to office lease assignments from 5,000 sq. ft. to 500,000 sq. ft.
Professional Negotiation Experience
An underlying principle to successful office leasing in addition to process management is Negotiations to Win--keeping the negotiations in control: making the building owner clearly aware of what it will take to accommodate your needs. Even in more landlord oriented markets, don't be intimidated. Tenant Rep Agency uses the objective truth of your needs to be the driving force.
Subject Matter Experts
The pitfalls only multiply if you undertake the process on your own or if you use a tenant rep who also represents building owners. Exclusive Tenant Rep Agency and HOK architectural service can prevent disastrous missteps; can turn up real economic opportunities and help turn your space into a strategic asset. The Tenant Rep Agency's exclusive tenant reps never work on behalf of owners and developers. Other real estate professionals divide their practice between both tenant and landlord representation. Your goal in working with The Tenant Rep Agency is not simply to obtain true economic savings and secure space on terms that best serve your needs over the life of your lease, but to associate with subject matter experts in managing the entire project.
Brokerage Consolidation
The increasing consolidation among commercial real estate brokerage houses elevates the likelihood that one or a small handful of companies will represent numerous buildings which a tenant may consider. Further, many of the tenants in these buildings may also be solicited by the same brokerages. In one case, a tenant seeking alternative office buildings in the market had to face the same real estate brokerage company (and in a few instances, the same agent) for several buildings. Worse, the same brokerage company for another building was also handling the leasing for his own building. Further complicating matters was that the same brokerage company was representing several different owners.
Having a dedicated tenant rep vaporizes all possible conflict of interest. Tenant representation is best served at The Tenant Rep Agency, not as a line of business in a full-service brokerage.
Other Great Benefits
Tenant Rep Agency can also prevent you from leasing too much space. The landlord has no incentive to help you economize on space and save you money. We also help create a competative bidding enviornment among several landlords for your business.
In case you eventually shrink your organization or outgrow your space, we can develop options for an exit strategy.
The Tenant Rep Agency and HOK serve as the experienced set of ears and eyes to verify the details of a transaction. Our transaction files can provide the documentation and collective memory necessary to clarify what was said and done during the negotiation, and work to diminish or eliminate potential disputes.
Landlord Benefits
Sophisticated and knowledgeable landlords recognize that the thorough and methodical process helps expedite well-qualified tenants for their buildings; including the removal of all programming, floor plans and construction estimates from their work in order to swiftly qualify their building. While the negotiations continue to be professional, the facts and details are worked through thoroughly. We have many strong endorsements from landlords...that is, the good landlords. For example, consider the quote from a londlord:
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"On the plus side, many property owners have discovered that negotiating with a tenant rep broker, either directly or as an adjunct to the tenant, has actually streamlined and accelerated the lease negotiation process."
The bad landlords never seem to get our clients.
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