When you think of a commercial real estate broker you should think of someone who manages transactions in the sale, purchase or lease of commercial real estate assets. A pretty good description of what a CRE broker does…but whom exactly do they work for? Generally a CRE broker will work for one of three groups of people: (i) the owners of commercial real estate, (ii) the tenants who lease commercial space, and (iii) owners and tenants simultaneously.
Below we outline how these three types of relationships work, both for the CRE brokers and for the client. Hopefully this will demystify some of the buying, selling, leasing process and answer some of your questions along the way.
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3 Capacities of a Commercial Real Estate Broker
Listing Broker / Owner Representative
As a Listing Broker or Owner Representative, a CRE broker works directly for the owner(s) of a commercial real estate asset to either sell or lease a specified property. This means that the Broker represents the owner’s interests and is responsible for locating and acquiring quality buyers and/or tenants. More than just selling or leasing a property quickly and at the highest price (which of course is always nice), a quality Listing Broker will add value to the assets they represent by maximizing occupancy with the right tenants, at the right time. Learn more.
As opposed to those who own commercial real estate, working for tenants who seek to occupy space is a large portion of a broker’s client base. When a broker works as a Tenant Rep, he or she works solely for their client to find them the best space for their needs at the best price for their budget. Those who are looking to lease commercial real estate should absolutely think about hiring a CRE broker as their tenant representative, as opposed to going at it alone. Not only do they provide expert knowledge and support when seeking space to rent, they have access to paid and confidential commercial listings that a tenant wouldn’t have been able to find on their own. Best part…it’s free. Learn more about the potential benefits.
A Little Bit of Both
Some, if not most, commercial real estate brokers do a little bit of both owner and tenant representation. In this capacity a CRE broker is not in an exclusive relationship with either an owner or a tenant. How does that look? A CRE broker will have active commercial properties for sale and for lease, but at the same time also work with tenants to find space. This fits the bill with most commercial real estate brokerage firms since they will at some point have listings they are marketing, and also be helping tenants lease space.
Finding a CRE Broker to Work For YOU
No matter who a commercial real estate broker is working for, a developer, bank, owner, investor or tenant, they should always be putting their clients’ best interests first. At SVN | Graham, Langlois & Legendre we utilize client-focused strategies to get the most value out of any given commercial real estate transaction. If you have questions regarding the sale, lease or purchase of CRE properties in Baton Rouge and surrounding areas give us a shout.
About Us – The team at SVN | Graham, Langlois & Legendre has over 99-years of combined experience helping clients across the Baton Rouge market get the most value out of their CRE investment. Contact one of our dedicated CRE professionals today with any questions you may have and start seeing the returns in a market that will make sure to give today, tomorrow and for the extended future. To reach us, you can call us at 225.367.1515 or you can send us a message on our website. You can also follow us on Twitter at @svngll or on Facebook.