What may be the number one “something” every commercial real estate professional needs when conducting real estate deals? One real estate expert weighed in his opinion and stated, “Always put your faith in the human touch, above all else.” The Florida expert believes that, “When it comes to a company’s top two expenses, the answer is most often the people and the real estate — personnel and office space.” “This being the case, decisions with regard to a firm’s commercial real estate needs are not to be taken lightly,” he noted.
In an article by BizJournals, the expert also notes that there is a lot to understand in regards to office space. “There is a ton to understand about not only what tenants actually are paying for, but what certain responsibilities are under the leases that top executives are signing. There is a lot at stake. This is why the professionals tenants’ align themselves with — commercial real estate brokers and attorneys — will be the most important decisions made in the process.”
“Why is something like this a big deal? Because when it comes to how a company is run, it is all about the bottom line. Not only is that 5 or 10 percent difference going to translate into a lot more dollars being spent on ‘unusable’ space, it will mean the company also miscalculated the efficiency of how their operation can maximize the space.”
The article highlights the importance of humans in the commercial real estate industry as technology cannot replace the “human touch.” “This is where having a well-trained, experienced professionals can make a huge difference,” the expert stated. “The right broker will know the history of the building; they will know what the true loss factor of the property is as opposed to the one being marketed. They also will know the personality of the ownership and understand the nuances of the leases — as will the right attorney — which can never be underestimated when it comes to negotiations.”