[ FREQUENTLY-ASKED QUESTIONS ]
The commercial Real Estate world can be difficult to navigate. Here are some frequently asked questions we often hear about buyer/tenant representation:
Why do I need Tenant / Buyer Representation? For the same reason you would not have one attorney representing both parties in a legal matter. When so much is at stake financially and legally, you shouldn't have one broker representing both parties in a transaction. What's the most common mistake a tenant makes when negotiating new space? Not developing legitimate alternatives to their first choice, whether they are interested in new space or a lease renewal. We often hear, "I don't want to move, and plan to renew my lease for another term". Even if you don't tell your landlord, he will often draw that conclusion from your actions - and once the landlord understands this, a tenant loses his negotiating leverage. Even tenants who have no reason to move must develop alternatives to their current situation. Otherwise they risk spending money needlessly because they have forfeited all leverage in negotiating the terms of their renewal.
How are Princeton Tenant Advisors compensated for its services? You don't spend a penny to use our services. In most cases, the landlord pays their leasing agent a fee and the leasing agent will share that fee with the Princeton Tenant Representative. With a sale transaction, the seller typically pays the fee. In the event you do not have representation, the landlord will pay the entire fee to his leasing agent, but keep in mind where that leasing agent's loyalties lie when he represents a property. His job and fiduciary obligation is to get the best possible terms for his principal -- the landlord. A tenant / buyer representative's job and fiduciary obligation is to get the best possible terms for YOU. Why The Princeton Realty Group Tenant / Buyer Representative Services? Tenant Representative Buyer Representative only represents YOU, your financial and business goals are all that matter to us. We are free to aggressively negotiate for savings and terms that will provide the greatest benefit to your company. How do I get started? The best way to get started is by determining your space needs, reviewing current market conditions and obtaining a list of all available properties that meet your needs. Call us at 914-747-5000 to begin the process immediately.