As part of an ongoing look at what consumers want from their real estate broker, today I'm looking at what tenants value the most when choosing a broker to represent them.
Tenant representation is a very specialized field and one that doesn't get the respect it deserves, in my opinion. From a brokerage perspective, it just isn't very sexy. The deals aren't as visible, the commissions (generally) aren't as big as investment deals, and the broker is often seen as just another cost in the transaction rather than bringing the real value that they do add to the process.
So what do tenants look for in a commercial real estate broker? Here are the top 7:
- Understanding of their business.
- Open communications and accessibility.
- A relationship built on trust and concern.
- Financial/analytical skills and structuring advice.
- Collaboration and a team approach to their needs.
- Understanding of the market and opportunities.
- Accompaniment on building tours.
Source: CEL&Associates Inc.
Did I miss anything? What do you look for?