Commercial Real Estate For Sale or Lease - Call RE/MAX COMMERCIAL BROKERS IN NEW ORLEANS - 504-838-0001

Tenant Representation

  • • Market Research | Competition Survey
  • • Site Tours
  • • Proposal Templates | RFP
  • • Financial Analysis
  • • Lease Negotiation
  • • Vendor Recommendations
  • • No Upfront Fees

CONTACT: Richard Juge | | 504-838-0001

The WHO, WHY and HOW of “Tenant Representation”

WHO: In the Commercial Brokerage business most quality Tenants seek out the services of a licensed agent or broker to represent their interests in a lease transaction with a landlord.

WHY: A qualified Tenant Rep should know the local market, other deals in the marketplace, the landlords/owners of the property and their representatives. Landlords and their representatives do this every day, a typical tenant does this every 3-5 years or longer and to an unsuspecting Tenant the Landlord has the advantage in negotiations. However, if the Tenant arms themselves with an experienced Tenant Rep, often times the Tenant has the edge in negotiations when done right.

HOW: A simple representation letter establishes “agency” for the broker to then advocate for the Tenant. In return the Tenant Rep broker typically arranges to have their compensation (commission) paid for by the Landlord or Landlord’s broker. This means there are no upfront fees for this service. In a perfect world the Tenant engages the services of a broker anywhere from 12 mos. out from their lease expiration. Sometimes that need arises 2-3 mos. prior. However, “time” is typically on the Landlord’s side if attempting to negotiate closer to the expiration date.

RE/MAX Commercial Brokers has a unique tool called the Tenant Rep Test which evaluates how much you (the tenant) know about the various proposal terms and items to be negotiated. We can provide case studies of prior work to show how much we have been able to save select tenants over the years. If you are currently leasing or plan to lease in the near future, contact our office at 504-838-0001 for a free consultation and Tenant Rep Test.

CONTACT: Richard Juge | | 504-838-0001