No one can say they’re 100% ready for a real estate transaction. Apart from the real estate jargon that seemingly only brokers can understand, there are also contracts, negotiations, endless paperwork, taxes, and a slew of other considerations that might just stress you out. Levi Smith from PA Commercial believes there’s a way to navigate the real estate maze, both for novices and experts alike. Whether this is your first time going through a real estate transaction or the hundredth, the process will go without a hitch if you opt for tenant representation to help you along the way. Let’s learn more about this.
What is a tenant representative?
A tenant representative is a real estate agent who represents you and only your interests as a tenant. This is in direct contrast to dual agents or brokers who represent the landlord as well, which means that they’re not as concerned about negotiating on your behalf.
A tenant representative who works for you will be concerned with the end results you want to achieve. Whether it’s negotiating for a Detroit office space for lease or helping you find a suitable commercial space for your startup, it’s certainly more convenient for you to get tenant representation rather than handle the negotiations and paperwork yourself. Having an expert in your corner gets you massive benefits in real estate transactions.
Plus, a tenant representative has experience and problem-solving skills which means that you won’t have to face the burden that comes with real estate obligations. They’ll understand and explain the contract for you, negotiate prices and security deposits, as well as let you know the ins and outs of renting a property.
What is a leasing agent?
A leasing agent acts as a liaison between the tenant and the landlord or owner of the property for lease. Agents ensure that the property owners and renters have an amicable negotiation on pricing and other necessary real estate transactions.
As opposed to a tenant representative whose sole concern is the tenant or the renter, a leasing agent is concerned with the property management company or the landlord and has to ensure that the property has a steady stream of potential renters.
If you’re looking for an office space for lease in Detroit, you’re better off hiring a tenant representative to help you rather than a leasing agent. Let your representative handle all lease documents, negotiations for security deposits, monthly fees, lease renewals, terms of contract, and so on.
On the other side of the spectrum, if you’re a landlord or property manager and want to ensure a steady supply of tenants for your properties or commercial spaces, find a leasing agent who can be your partner in business growth. A leasing agent helps you advertise and list your properties as well as do the paperwork for prospective tenants, such as background checks and credit checks.
So who should I retain?
Now that you understand what these two experts can offer, make sure to contact Levi Smith at PA Commercial so we can talk about the tenant representation that works best for you and your needs. It’s never too early or too late to call for help when it comes to real estate.