Start the commercial real estate research process early

research.jpgIt just goes to show you…start early! I’m working with a long term client again and I advised them we should start looking and researching months ago. They finally accepted my advice and we are looking at a few properties that could be a potential fit.

Had we started a few months ago, we would have had a few more good opportunities. Experience has taught me to begin the education phase early and when the right property comes available you now have the comfort level to make your decision.

While we are still a good 8 to 9 months out before we will be making the move, now is a good time to begin the negotations. It gives us leverage and options. We toured a potential loacation with a key decision maker and I encourgaged him to allow me to submit a non binding offer to lease. It will allow us to be first in line in an already tight market. We still have a lot to do with the other team members, but at least they have a starting point and a potential new location. Had we waited to make the offer, they risked another party gaining control of the site.

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This is only the beginning, but starting early with benefit my client emensly.