Leasing Office Space – Part 2 of 23 Hiring a Broker

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Get an Expert!If you select a tenant rep broker to help find your office space, find an expert. Do not hire the person who helped you purchase your house. Office space tenant rep brokers are full-time experts. It is a very specialized area.

Identify Tenant Rep BrokersAsk business acquaintances for office tenant rep broker referrals.

Use a search engine to identify perhaps five or 10 office tenant rep brokers in your area. Do your initial research by reviewing their website. Are they office space experts? Call and interview perhaps five to seven by phone.

Phone InterviewsIn addition to basic information regarding their company, and references, you'll want to ask some of the following questions:
Do you typically represent tenants or building owners in lease negotiations?
What other commitments do you have at this point?
Do you have time to properly represent me?
What is your experience in leasing office space? 
How many years experience in leasing office space? 
How many transactions have you completed?
What is the total amount of office space?
I'm thinking about leasing space downtown. Have you recently done any transactions in that area?
What is your approach to negotiating? Is it to extract every possible concession? Is it to negotiate a commercially reasonable transaction in an expeditious period of time? (Which of these is more consistent with your approach?)
What are the market conditions and trends in the area I'm considering? Should I be considering a short-term lease or a long-term lease?
How are you compensated? If you're paid by the office building owner, what communications with your confidential and which ones will you be communicating to the office building owner? Are you my representative or the representative of the office building owner?

The Market Research and Consulting division of O'Connor & Associates provides information necessary to make decision to commercial real estate professionals. Occupancy and Rental Data, ownership and management information are routinely gathered for four major land uses - multifamily, office, retail and industrial.

This information allows investors to compare competitive properties, facilitate business decisions and track market and submarket performance. In addition the data is useful to brokers who for example continually monitor Houston retail space leasing, Houston office space leasing, Houston industrial space leasing, Houston apartments, Dallas apartments, Ft. Worth apartments, Austin apartments, and San Antonio apartments.

This capacity to research, analyze and interpret market trends and the impact of specific transactions is a major reason for why developers and acquisition experts rely on O'Connor & Associates for market research, market studies, feasibility studies, rent studies, tax credit studies, project design guidance, property performance evaluation and lease audits. O'Connor & Associates is an acknowledged source of trends in real estate investing and market activity.

Patrick C. O'Connor has been president of O'Connor & Associates since 1983 and is a recipient of the prestigious MAI designation from the Appraisal Institute. He is also a registered senior property tax consultant in the state of Texas and has written numerous articles in state and national publications on reducing property taxes. He continues to set the standard in direction and quality of our appraisal products, adding services ranging from business valuations and business appraisals to cost segregation analysis for income tax reduction. For more information please www.poconnor.com today!

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