Who Needs A Commercial Real Estate Broker, and Why

A commercial real estate broker is an intermediary between the landlord/seller of the premises and the applicant for rent or purchase of space. The need to contact such a specialist lies in the successful negotiation and implementation of the transaction. In addition to working in the interests of the client, Connecticut Commercial Real Estate Brokers perform a number of important duties:

• Secrecy;
• Loyalty;
• Providing comprehensive information;
• Reporting, checking documentation.

How a commercial real estate broker can help if you are a landlord/seller

First of all, the services of an intermediary are necessary for the owner of real estate who wants to rent or sell the existing premises. The main task of the broker is simple, but taking into account the human factor is hardly achievable - to bring the parties together and sign an agreement between the owner and the tenant/buyer, taking into account the benefits and conditions of his client.

How do commercial real estate brokers assist you?

Speaking on the side of the owner, the intermediary first of all determines the desired goals of the client and develops the basic clauses of the lease agreement, taking into account a number of factors:

• the amount of the net rent;
• duration of the term;
• additional payments;
• possibility of extension.

In addition, a commercial real estate broker provides for all possible risks and sets some restrictions on the use of premises.

How a commercial real estate broker is useful for a tenant

The services of a specialist are no less necessary for the tenant/buyer. A commercial real estate broker pursues his client's interests exclusively and tries to conclude an agreement with the greatest benefit for the “ward.”

What does a commercial real estate broker do if the client is a buyer or tenant? In the performance of his duties, a professional determines the legal status and goals of the tenant and brings to him all the necessary data that can be used in his interests.

Experienced commercial real estate brokers in Connecticut also consider the desired location and area of ​​the premises, draw up the contract terms, and, if necessary, provide a guarantor for the landlord. However, the list of intermediary services does not include the provision of full legal advice to the client.

What are the payment options for this work?

Having figured out who a commercial real estate broker is, you should understand that his services require payment. Usually, when concluding an agreement, this item is prescribed separately, indicating the amount of commission. The cash incentive may be a fixed rate, a percentage of the client's net income (including all taxes and fees), or a percentage of the total value of the transaction. If the broker succeeds in helping to extend the rental period or determines the right of the first purchase for the tenant, then he is entitled to additional monetary compensation.