There is no doubt that we are in a fickle real estate market. Many people are losing there homes and at the same time many owners are lowering their prices.
Rona Fischman of Boston Real Estate Now agrees, “Rents are down across America. Business Week reports that rental rates are down, especially in luxury, doorman buildings.”
With many people using the recession as an opportunity to either start or grow a small business, the question becomes: “How can you take advantage of falling commercial rental prices?”
The easiest way to get the best commercial space for the lowest price is to consult a specialty Realtor who works with commercial rentals. Some real estate agents specialize in negotiating with owners to get you the best price; this is especially common in urban environments. These agents may even have long term relationships with the owner, giving you leverage and ultimately a better deal.
It’s not a good idea to search for commercial space yourself. Rental prices can vary; you may end up paying more for the same space. Likewise, hiring a Realtor who does not specialize in commercial rentals, may not procure the lowest price either.
Real estate agents who specialize in commercial rentals may have informal arrangements with property owners. The owner will often give the Realtor more flexibility to lower the price, in turn the Realtor will send a greater number of prospects to the property owner.
No matter what you decide, it would be a good idea to consult the business directory. Take a look and see whose specific expertise best matches your needs. Finding good service providers is about matching their expertise with your specific needs.
Use the business directory to find a specialty real estate agent referral.