Brokers who dominate your commercial real estate transaction are not doing you any favors. It may appear that they know what they are talking about. They possibly are quite experienced and knowledgeable. But brokers who dominate may not have your best interests in mind. It could be that they are just trying to get through the transaction so they can collect their commission.
People can be easily swayed by brokers who dominate. They can even be somewhat intimidating. This can be especially true if you have never leased or purchased a commercial real estate property before. When a broker uses unfamiliar industry jargon, for example, it can be confusing. Or, if they always seem to be in a hurry and don’t let you on the conversation, it can really make you feel like it’s not even about you.
Truthfully, when you are the client, it is YOUR transaction. It is YOUR lease or purchase. The terms of your transaction are about YOUR business. A commercial real estate broker should be listening to you and asking you the right questions about your business needs. After all, you hire the broker to represent YOU.
Granted, commercial real estate transactions can be complicated. There are many considerations to think about. For example, making sure that you draft a thorough Letter of Intent or that proper Due Diligence is conducted does take the expertise of a professional broker. Having a broker who can guide and direct you vs. dominate you is really the key.
As such, your experience with a commercial real estate transaction should be as favorable as possible. When choosing a broker, you will want to ask yourself the following questions:
- Does the broker have experience in similar transactions?
- Does the broker come with positive recommendations or reviews?
- Does the broker ask me detailed questions about my business needs?
- Does the broker actually listen to my answers?
- Do I have a comfortable business rapport with the broker?
- Do I feel that I can trust the broker?
At the Menlo Group, we take pride in being brokers who work for you. We care about you, your business, and your business needs. You can count on us to put you first. Give us a call, and we’ll talk. But…we will also listen.