November 1, 2013
Whether you’re looking for a space for your new business or expanding (or down-sizing) your current one, it’s a good idea to have representation (you can read my earlier entry about Tenant Representation here).
So you’ve located the city you would like to set up shop. Who do you call? If you’ve gone through this process before, you might already have a trusted agent that you like to work with. What if this is your first time or the last agent got the job done, but you really didn’t enjoy the process? Moving can be a stressful and expensive proposition, and for that reason you might have thought to contact a bunch of agents and have them all vying to find you that perfect spot. The more agents that you have working for you, the quicker you find a spot, right?
The truth is that while this may seem to be the most effective means of finding a space – and who doesn’t like a drove of agents running around and working on our behalf – this is probably the least effective manner in getting a simple task done. Essentially, all you have done at this point is re-invent the wheel regarding your space requirements to multiple agents and spent valuable time explaining what you want to a small army of agent!
Consider working with one agent. It may seem counter-intuitive, but you’re building a lasting relationship with somebody that can help you find a great space – now and in the future. The agent won’t be wondering if all his/her work is a waste of time seeing that you have multiple agents repping you and there is also a dynamic learning curve that takes place as this agent learns what you don’t like and the things that are a “must have” for you.
Of course, I’m not telling you to endure the agent that is consistently late, inaccessible, or just lazy in the name of commitment. You need somebody that is going to be professional and work on your behalf; Somebody that knows the area and may be privy to additional information like what spaces are likely to be available in the future! And if you can meet that somebody that you enjoy looking for spaces with, that’s a huge bonus! You might even end up meeting a good friend that be a world of resources to you in the future.