This post originally appeared on the Developers & Chains website and is republished with permission.
At the beginning and end, real estate is a local business
There are many advantages of using a professional retail broker:
Save valuable time and money
Rent is a function of sales, so knowing the market gap for your business is crucial. Retail brokers save their clients time and money because they have the experience and knowledge to find the perfect location and negotiate the best deals for their clients. The retail broker can qualify the property, handle the negotiation process and be instrumental in facilitating a closing deal. A retail broker is aware of the numerous issues in a lease and can save the retailer costs over the lease term.
Eyes and ears on the local and regional marketplace
A retail broker recognizes market trends, provides up to the minute insight to your business. Retail brokers perform market analyses which illuminates supply and demand cycles in regions. A broker knows about spaces not yet on the market, spaces that are sub dividable, signage and many other important aspects that are critical for your success. As well, a retail broker knows where the most successful locations are and they are in tune with planning, construction, expansion and contraction of the market.
Will find the best location for your business
Talking to businesses, knowing where sales are growing, opportunities and tenant synergies, add up to the difference between an okay location and a home run. A retail broker is vital because they can observe where uses flourish and where they do not. Additionally, a retail broker acts as a curator for co-tenancies and help to place retailers in the right sub-market. A retail broker also has a strong understanding of the physical characteristics of a site and how ease of access, parking, and attractiveness at the point of sale can affect a retailer’s success.
Access to a wide variety of listing and marketing platforms
Many commercial real estate listings are not centralized and the public cannot easily find information on what spaces are available in the market. Retail brokers have access to several industry listing platforms which provide the most current and relevant information available. Retail brokers also have access to current demographic data and analysis which can be very important when determining which location will best serve the retailer’s target demographic.
Education and experience to serve your business to meet the needs of your clients
An educated broker is dedicated to continuous learning and will be an active participant in industry associations. Prominent commercial real estate organizations:
- CCIM (Certified Commercial Investment Member): an internationally recognized institute which provides real estate professionals a curriculum that includes market analysis, financial analysis, user decision analysis, investment analysis, as well as negotiation.
- CORFAC (Corporate Facility Advisors International): a group of privately held commercial real estate firms which are located across 65 countries.
- RBN (Retail Brokers Network): a networking group whose members specialize in Retail Real Estate Brokerage. Many firms work together on a regional, national and international level. The primary areas that are focused on are: tenant representation, investment sales, project leasing and several other quality affiliations.
- ICSC (International Council of Shopping Centres): an association that serves the global retail real estate industry. Provides their 70,000+ member network in over 100 countries with invaluable resources, connections and industry insights.
Connected to the best in the industry
Retail brokers have connections with business city planners, investors, property owners, colleagues and many more industry-related professionals. Retail brokers are also familiar to the owners and managers of properties. The property manager is responsible for maintenance and care of the property and its spaces and a retail broker will know who the great property managers are, ensuring the location you choose is well-maintained and has great curb appeal to attract and retain customers. Additionally, retail brokers can connect the retailer with professionals to assist them with financing, construction, engineering and legal concerns.
Since 1975, Shindico has been one of the leaders in commercial and investment real estate in Canada. With over 40 years of experience, Shindico believes in Succeeding by Helping Others Succeed. Using a commercial real estate broker ensures the success of clients and the goods and services they offer. Having a knowledgeable professional on your side will provide you access to the most up to date market and demographic information to ensure that you find the best location for your retail business.
Sandy G. Shindleman, CCIM, SIOR, FRICS
President & CEO
About Developers & Chains
Developers & Chains is a subscription-only publication that concentrates on the growth and expansion aspects of the retail and restaurant industry across Canada, from British Columbia to Newfoundland. For more information please visit http://devandchains.com/
