What is a Tenant Broker?
A tenant broker is a person who helps prospective tenants or buyers locate suitable commercial property. Tenant brokers can provide you with sound analysis of real estate market conditions, inform you about space availability, and even negotiate lease terms with a landlord.
Before you commit to renting a property, make sure that you have a tenant broker representing your interests. Landlords also hire brokers — called “leasing agents” — to fill vacant space in their buildings, but these agents work for the landlord, not for you. They earn a commission from the landlord or building owner each time they get a tenant to sign a lease and occupy space.
Although a building owner also pays a tenant broker’s fee, tenant brokers don’t work as exclusive leasing agents for one property or one landlord. When you hire a tenant broker, he or she works for you. Beware of landlords or leasing agents who refuse to work with your broker: This is a pretty sure sign you’re dealing with disreputable people.
A tenant broker should give you objective advice, since their commission isn’t directly tied to a particular property. In addition, working with a broker lets a landlord know you’re seriously looking at multiple leasing opportunities. This may make a landlord more competitive and willing to negotiate favorable lease terms.
The best way to find a good tenant broker is to ask the right people. Get referrals from your peers or business associates, or just ask brokers about their experience. Look for a broker who has a history of helping clients find properties and experience negotiating lease terms, along with a proven track record of protecting tenants.
As your New York tenant broker, your satisfaction is our only business. We represent you and have no allegiances to particular buildings or owners. Your agent spends all of their time investigating spaces and working for you. This commitment is the advantage we offer to you as your New York commercial broker when you’re looking for property. Over 90% of the other property firms in New York represent specific buildings or building owners, putting their needs above yours. We truly work for you and your success as your New York commercial broker.
New York Office Space is a full-service commercial real estate firm specializing in Manhattan commercial properties for local businesses and companies looking to lease space. Our brokers are experienced, dedicated experts in New York’s real estate market, including many facets not limited to; the geography of the city and the availability of the buildings across Manhattan.
NYOS guides its clients through the entire process, beginning with the initial search, through all showings, negotiations and even architectural and construction plans.
Please call or email a New York Office Space broker for details.