Why BYOBroker….

Over the last decade of representing office tenants in commercial real estate leases, one of my biggest frustrations has been every time I hear, “we don’t need a broker–we’re going to do it ourselves“. Eighty-five to ninety percent of tenants will always use a broker and recognize the value we bring to the table. The remaining ten to fifteen percent just can’t be convinced that we add anything other than a commission. As a seasoned veteran, I know the value that brokers bring to the table, whether on a lease renewal or searching out and negotiating a lease in a new space. Business people, who negotiate contracts every day, naturally assume that they can do as good of a job as a commercial real estate broker–and possibly better if there is no commission involved.

Unfortunately, with only a few exceptions, this is not the case. Landlords are in the business of making money, and when they come across a tenant trying to negotiate a lease without a broker, they are more than happy to tell them they might get a better deal on their own. Lawyers have a saying that goes,” a lawyer that represents himself has a fool for a client“. Ninety-nine percent of the time the landlord wins and it’s only after the deal is done that the tenant finds out that they could have made a better deal if they had better information.

That’s where BYOBroker comes in. Go ahead and do it on your own, but give yourself the best chance of winning. We level the playing field and give you access to the same information that landlord’s use. We provide lease templates that allow you to present your proposals in a format that landlords are used to working with and alert you to potential pitfalls. We identify cost-savings and show you how to build flexibility into lease terms.  In short, we help you Be the Best Broker you can be.  I look forward to sharing more thoughts in the future.