COMMERCIAL REAL ESTATE
FREQUENTLY ASKED QUESTIONS
Will using a tenant representation firm add cost to the transaction?
No. A brokerage fee is factored into almost all real estate transactions, and is paid in full whether you hire a broker or not. Typically, this fee is paid by the landlord or seller. By hiring a tenant representative or buyer's broker, the existing fee is simply split between the seller and buyer agent.
Many firms offer tenant representation services, why should I choose BellCornerstone?
BellCornerstone is the one of the nation’s FIRST tenant representation firms and has a longstanding reputation of excellence. Our experience advocating on behalf of tenants, protecting them from risk and reducing their total occupancy cost is unrivaled. BellCornerstone has sustained an 18.3% average reduction in our clients’ occupancy costs.
Do I still need a tenant representative if I am planning on staying in my current space and renewing my lease?
Yes. You should hire a tenant representation firm whether you are looking to relocate or renew at your current location. A tenant representative will explore the many important aspects of your current lease to compare them against today’s market conditions. They will conduct a needs assessment to determine if your space and design still meet your current needs. They will help you measure opportunities in the marketplace against your current landlord's proposal. They will negotiate with your landlord to make sure you get what you need and the best possible deal.
When should I start the process of looking for new space or negotiating a lease renewal?
Time is the single most powerful negotiating tool in any real estate transaction, and frankly, there is NO disadvantage to starting the process 2-3 years out. On the other hand, if you start late, it can be extremely costly. Time gives you the benefit of exploring all options, such as building new, renovation and the full range of leasing opportunities, both on the market and off-market deals.
Is it too late to use a tenant representation firm if we have already started looking at locations or have begun conversations with a landlord?
No. It is common for companies to seek tenant representation services after spending some time trying to handle own real estate requirements on their own. While it is certainly true, the sooner the better, it’s always the right time to make a good decision.
What geographical areas does BellCornerstone cover?
BellCornerstone has clients across the country and can provide expert real estate solutions throughout the United States of America.