Regularly, we see company executives who think they have enough business acumen to negotiate their own commercial real estate leases.
What possibly could go wrong?
Why would one pay somebody else to do something they can do themselves?
After all, everyone can probably handle their own real estate, much like they can drive their own car or swing a tennis racquet ...
... so try taking your car onto the race car track against a professional driver and see what happens. Or, if you are a casual tennis player, try challenging the tennis pro at your local club.
Losing a car race or getting schooled by a tennis pro probably isn't a big deal. Yet every day, company executives try to negotiate / compete against landlords for huge stakes!
A commercial lease is a very complex document whereby a slight modification of only a few words can substantially increase tenant risk and costs while lowering flexibility. Moreover, even the smallest of commercial real estate tenants will pay hundreds of thousands of dollars during an average term of ten years. For most tenants, lease consideration is in the millions.
Landlords and listing agents (the folks we mistakenly call on the leasing sign) are professional real estate experts who negotiate thousands of leases with hundreds companies annually. They are the Indy 500 and Wimbledon champions of their industries ... and they'll gladly take your money as an unsuspecting tenant. The stakes: Often the single largest expense contract that most companies will every make - the commercial real estate lease.
If you want to reduce your liability, risk and costs while increasing your profitability and flexibility, call an expert real estate tenant advisory firm. Call Orange Group Commercial Real Estate.