Do You Even Need a Broker After All?
When the question of the necessity of brokers is raised, one must first answer the very pressing question on what brokers actually do, before the first question can be addressed. Brokers in general are the entities that bring the landlord and the tenant together to form a deal. The deal usually consists of the tenant leasing space from the landlord. The broker will typically negotiate the lease term agreement and find either the tenant the right landlord, or vice versa.
When searching for the right rent NYC office space the prospective tenant may question the necessity of the broker, although, depending on the type of broker, this may be a counterproductive endeavour. There are a multitude of different types of brokers. One type represents only the tenant. The second type represents only the landlord. The third type represents both landlord and tenant. The type of broker a tenant chooses may heavily influence the type of lease NYC office space which the tenant may decide to sign on.
The right type of broker must be selected, which seldom happens. This then leads to prospective tenants questioning the necessity of brokers. Since only one type of broker has the tenants interests in mind completely, prospecting tenants should choose wisely which broker they select to sign an exclusive agreement with.
The final alternative to brokers would be the internet, but in its current form, only a small fraction of all available space actually gets posted to the web. Thus, to answer the question on whether or not brokers are necessary, yes, but that should only be the beginning. Yes, with the right broker, one is far better off than doing it alone.