carmencs / January 15, 2024
When you are revisiting your lease, fully relocating, or finding a place to expand, a trusted real estate advisor is the first thing you need. Advisors, especially tenant representatives are your secret weapons to get you what you want easily. They are experts in their field and are well-versed in market trends, know what realistic expectations are, and can recognize a bad deal before you sign up.
A trusted tenant representative’s main goal is to get you the best possible deal financially that aligns with your business objectives. As a busy professional, you have your responsibilities and your leadership team might not have time to do deeper research about the desired property.
Even if you do, you may miss important aspects but that will not be the case if you hire professional tenant representatives like CARMEN CRE in Chicago. Our experts can help you gather and present information in a way that increases your chance of winning the best deal in the area.
Step 1 identifies the key indicators of success for the project and determines important milestones. At this stage, we’ll analyze a need assessment to outline what should be covered in the 1st meeting with clients. It may include various factors, some of which are mentioned below;
Strategic, Financial, and Operational Objectives
What are the objectives you are expecting to achieve with this decision? Perhaps you are looking to increase your clients based on location or might want to remove operation costs.
What ideal location do you want for your business? Is it a corner building in the mid-city? Or a peaceful place with less noise?
Desired Area of Land
Are you downsizing or looking to expand your business? Where do you see your business in the next few years? We can help you select the right space for your business.
Amenities and Other Features
Is there anything on your wishlist? Like in-house café, or lounge, etc. Tell us so we can keep these things in mind while selecting your dream location.
It is one of the most important considerations when selecting a space for yourself. Having a dedicated budget can save you from unexpected things later.
Last but not least, how quickly do you want the new space for your business? Having an accurate timeline is the key to a successful search.
In this step, our tenant representative will develop a list of viable projects or sites. Based on the insights of step 1, we’ll conduct market research. We’ll also consider off-market options if they suit your needs. After collecting all the details, we’ll let you choose a handful of properties to coordinate with the person and visit the property.
In the 3rd step, our team of experts at CARMEN CRE will provide expert analysis to help you make your final decision. We’ll also manage the distribution of “request for proposal” (RFP) to landlords in your finalized properties.
At the end of this phase, we’ll provide you with a qualitative and quantitative analysis of the submitted proposals and tips for strategic negotiation.
In the 4th step of our tenant representation, we’ll negotiate with landlords to secure the best possible deal for you. At this stage, legal teams will also be involved to support us with legal terms and conditions in negotiation. Once this step is completed, we’ll perform a final comparison and present you with the information for decision-making.
In this final step, the hard work pays off. We’ll work with the legal team to finalize the transaction documents and confirm the lease is consistent. You can now operate your business after the final transaction of documents.
Already looking for a professional tenant representative?
Let’s partner with CARMEN CRE and bring your ideas to life. Schedule a FREE call with us now.