Not Involving a Broker Can Cost You
While advertisements for ‘discount real estate services’ (primarily focused on residential transactions) coupled with internet platforms and high demand for product have caused commission rates to come down, the risk for principals is to think that they don’t need an Agent at all. You may calculate that by not using an Agent you will save ‘X’ amount in commission dollars, but at what cost? Everything has a cost.
Many of our clients have had this consideration. While everything is negotiable in real estate, we have helped many clients see that one thing you should never negotiate on is having a skilled professional Agent advise you through the complexities of industrial/commercial transactions. We aim to help them see this so that they are informed and counseled on how to achieve maximum value, efficient use of their time, and effectiveness in protecting their interests.
Not involving a broker will have a cost, and here are just some of the things it may cost you:
Money / Value
Selling too low, buying too high, determining the right lease or renewal rate, and determining appropriate concessions are all considerations. Without the insights an Agent provides, you are left somewhat in the dark on what is right.
We could share several stories recently where clients have not counseled with nor taken the advice of our team and the results have significantly and negatively affected the value of their real estate or the income they would have received from a lease they negotiated. Whether you are leasing or renewing a lease for an existing tenant, selling your property, or buying/renting a new location, why would you want to do it alone?
In each of these instances, tens of thousands of dollars that would have been paid for a commission were saved at a cost of hundreds of thousands (and perhaps millions) of dollars in income to the property owner. It is staggering when you do that math!
One of the key functions an Agent provides is to act as a go-between, a facilitator of information, responding to inquiries, arranging tours and conducting negotiations. What is your professional or personal time worth? Do you enjoy these real estate activities with a wide cast of characters, or would you rather focus your time on your own personal or professional endeavors? Allow our team to make your life simplified and free up more of your time.
Experience & Expertise
Making mistakes is one thing to avoid. But knowing the right time to do the right thing is a higher-level consideration. When you engage our team, you benefit from years of transactional and relational experience. That translates into sound advice which allows you to make the most informed and beneficial decisions . You are an expert in your field of business, so allow we experts in real estate to help you.
Now in all of this, the key is not to just use any Agent, but use the right broker. Contact us today for a discussion on how we can help you successfully execute or solve any problems.
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Christopher J. Destino, SIOR, a Principal at Lee & Associates, is an engaging, responsive professional who enjoys working closely with his clients and helping them succeed.
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