Insights
Building a career in the real estate industry can be frustrating and even intimidating for newcomers. Sadly, the failure rate for new agents is pretty significant. For anyone who’ trying to make a name for themselves, being diligent and avoiding these common beginner mishaps should help your chances of succeeding in this business:
In a time where the commercial real estate industry is as fast-paced and as dynamic as ever, having helpful insight and advice about what’s important and what’s working (or not) can help anyone learn as they go. This is why we’re launching an all-new series with MeetAdvisors.com – “Commercial Real Estate: What I Know Now...
Did you find the perfect office space and are ready to sign a lease or make a purchase? Are you trying to move your property quickly? If you’re involved in any leasing/purchasing real estate process it’s likely you’ve come across the term “dual representation.”
Real estate negotiating can either be an exciting or stressful process. If you are a broker you must have ice in your veins and know the people you are dealing with. Fortunately, if you are a third party, this allows you to be much more objective and take the emotions out of it. Viewing the...
The commercial real estate industry is much smaller than you would think. Networking events and LinkedIn allow for everyone to know everyone else – or at the very least, have mutual acquaintances. Because of this, it is imperative to promote while protecting your image when dealing with colleagues, clients, or your competition. Failure to do...
Choosing where to house a business can be extremely difficult – especially when deciding between the city or the suburbs. There are the obvious factors to take into account; financials, space, client locations, commute and employees. However, there are two lesser-known pulling factors that you need to take into account: Tax credits and split-office locations....
Almost everyone has been in a situation where they needed to either break or amend a property lease. In commercial real estate, there are four main reasons a company may have to sublet their space. The first two reasons are fairly obvious and usually have to do with company size and business trajectory; a company...
The commercial real estate market, as with all industries, is constantly evolving and shaping itself to stay current with the advancement of new technology available for business owners to gather information. This newfound wealth of public knowledge can be helpful, however attempting to charter these waters alone can prove costly. For a variety of reasons,...
All businessmen and women know that a baseline of trust between parties is critical to the success of any negotiation. But within the course of business dealings, how do you build that trust? What active steps can you take to raise the chances of a positive outcome for both sides? Instead of simply hoping that...
Long term leases, if done properly are made with options to be broken. Whether the landlord is looking to get the current tenant out in order to charge more to a new tenant or more likely, the tenant is looking to get out to find the right sized space, there are many times in commercial...
The business landscape is competitive. The line between ethical and unethical can often become blurred. There is a big discrepancy and ultimately a determining factor in reputation, of how one sees the difference between the two. With the rate new businesses and competitors are emerging, there is a rising concern from established companies that they...
Is your business overcompensating for the key buzzwords in company office space right now? Of course, we are talking about fun and collaborative. In order to impress clients and potential hires, creating a comfortable office space is an obvious goal for any company. However, there needs to be consideration into whether your new ping pong...
Comrade Web Agency was seeking a loft space in River West. TAG located a great space and then negotiated a tremendously favorable deal. TAG was able to drop their rate 22% from the original asking, and added 32% additional tenant improvement allowance from the initial offer. Likewise, free rent increase by 50% over the initial...
The City of Chicago is experiencing a dramatic change in the availability of commercial real estate. The landscape is in flux due to the improving U.S. economy. Real estate typically lags the economy which leads to a very intriguing cycle of office space availability. Because of the interconnected nature of all of these issues, many...
At Tenant Advisory Group, negotiations are a part of everyday life. Last week, we gave 5 tips for successful negotiators. We have 5 more tips for a successful negotiation. Tips 6 through 10 focus on understanding the other side of the negotiation process.
From the seasoned lease or contract negotiator to the first timer, it is vital to have a strong set of ideals behind all negotiations. The more confidence in and acumen with these skills that one has, the higher opportunity for coming away with a positive outcome.
Unless you work for a brokerage firm, you are not an expert when it comes to commercial real estate leases. Leave it to the experts when it comes time to negotiate your lease.
Throughout 2014 there have been many examples of a drastic escalation in the valuation of land within the confines of the City of Chicago. Since much of this land is being developed for the purpose of condominiums and apartments, developers may find it more attractive to shift their focus to surrounding neighborhoods. These value oriented...
When searching for the most suitable office for your company, it’s important to consider the building class type. While the class type is often overlooked by tenants, it is actually an important factor to determine and compare one building’s price to another.