Prospective tenants are often resistant to hiring an “exclusive” broker. They feel that if they hire just one company, they're not going to get to see the breadth of the market and that by dealing with multiple brokers, they will get to see more properties and wind up with a better selection. The reality is quite different — there are valuable benefits to going with just one broker. Some of the main reasons you should consider an exclusive broker:
“Don’t let a crisis go to waste.” This proverb from Winston Churchill, made famous again in 2008 by Rahm Emanuel, is applicable to many things in life, including the expiration of a commercial lease.
As many tenants know, rents have been rising. The stock market peaked in May (and is threatening a new high again), and according to regular cyclical patterns, it is set to continue rising for another year or two. Continued increases in rental rates can take a HUGE bite out of a business’s bottom line.
In the previous post, we discussed subleasing, assigning, desk-sharing and the option to cancel as some of the remedies a business might use to get out of a lease. In this post, we discuss the least desirable ways to get out of a lease: buyout and litigation.