This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList.
If you’ve ever worked with a tenant representative broker, you may have wondered to yourself: why do we ask so many questions? We always use a Request for Proposal (RFP) when comparing spaces for our clients. Many landlords and their representatives would prefer to and choose to skip this part. We never do. Sometimes this step is skipped due to laziness, and sometimes it’s because the landlord doesn’t want you to know the true costs. In other cases, it’s because the landlord hasn’t shared the information with the agent.
Here’s our take on it. No matter what, the RFP contains crucial information – information you need. In the real estate world information is power. Without it, one can’t accurately determine the best deal. Whether you are using an agent or handling your real estate negotiations yourself, make sure you understand all the points in the lease and have all the answers for comparison. Otherwise, you may find yourself in a sticky situation.