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from Twitter https://twitter.com/AustinTenantAdv via Blogger Flavius Aetius thanks for following me on Twitter! https://t.co/mmo6ft1gxu It depends. In most cases commercial listing agents will typically quote a rate that is a little bit higher than what the landlord is willing to take. At the end of the day it doesn’t hurt to offer less, however if you low ball they won’t take you seriously. It’s also important that you understand what market conditions are and what the landlords motivation is. For example If the landlord is trying to sell the commercial building they most likely will want to keep the rates as high as possible as the monthly rents paid by tenants will dictate the market value of the building. Lower lease rates reduce the NOI of the building. Find out if the building is currently for sale. If it is then you know to focus on other concessions like rent abatement. Also, In a hot market where landlords have a lot of interested parties they may be less likely to negotiate on the lease rate. If you really want to lease the space you may not have a choice but to pay the quoted rates. Don’t just focus on commercial lease rates. Too many tenants make this mistake. Just because you got a lease rate that is lower than what they were quoting does not mean you got a good deal. There are a lot of other concessions to be had in commercial lease negotiations.
via Blogger Are Commercial Lease Rates Negotiable? It depends. In most cases commercial listing agents will typically quote a rate that is a little bit higher than what the landlord is willing to take. At the end of the day it doesn’t hurt to offer less, however if you low ball they won’t take you seriously. It’s also important that you understand what market conditions are and what the landlords motivation is. For example If the landlord is trying to sell the commercial building they most likely will want to keep the rates as high as possible as the monthly rents paid by tenants will dictate the market value of the building. Lower lease rates reduce the NOI of the building. Find out if the building is currently for sale. If it is then you know to focus on other concessions like rent abatement. Also, In a hot market where landlords have a lot of interested parties they may be less likely to negotiate on the lease rate. If you really want to lease the space you may not have a choice but to pay the quoted rates. Don’t just focus on commercial lease rates. Too many tenants make this mistake. Just because you got a lease rate that is lower than what they were quoting does not mean you got a good deal. There are a lot of other concessions to be had in commercial lease negotiations.
via Tumblr Are Commercial Lease Rates Negotiable? If you are getting your real estate license and not sure if you want to have a career in commercial real estate vs residential real estate then you will want to read this post. There is a difference between the two and it’s important that you be aware of them. Below we will touch on some of the main differences of commercial vs residential real estate however keep in mind there are many more. EducationIn Texas anyone that wants to represent buyers, sellers, tenants, landlords, and tenants whether commercial or residential has to get a real estate license. The basic education requirements for this are the same for both. The core curriculum of the Texas real estate license weighs heavily on the residential aspects of real estate. If you want to get more commercial real estate education you will have to pay for 3rd party courses through CCIM or others………..and good ole on the job training. Finding a good mentor is key. Also there are many types of commercial real estate to learn and the nuances of each are different. Having a college degree may help you get your foot in the door with some commercial real estate brokerages however it’s not necessary. Some will say that you have to have a college degree to be a commercial real estate agent however I know plenty of commercial brokers that don’t have degrees. However if you want to increase your chances of being hired by a big commercial real estate firm then get a college degree. Type of Clients You Deal WithIn residential you are mainly working Business to Consumer (B2C) with individual consumers who want to buy, sell, or rent homes as your main point of contact. In commercial real estate you are working Business to Business (B2B) with your main contacts being business owners, CEO’s, CFO’s, COO’s, Operations Managers, and in many cases office managers and/or administrative assistants. If you don’t like cold calling businesses then you might stick with residential. How Long Deals TakeThe sales cycle is much longer in commercial real estate. In residential once you find a house you like, make an offer that gets accepted, you will typically close in 30 days or less. Also depending on the market you are in you only get 3-7 days for due diligence to complete and review the inspection report and get pricing on any repairs needed. Depending on the type and size of space, market, scope of work needed, zoning requirements, etc., commercial real estate transactions can take anywhere from 30 days to 12 months or longer. In most cases the minimum due diligence time frame is 30-45 days. A more complex transaction could require many months of due diligence Ramp Up Time to Start Making MoneyIn residential you typically get paid commissions at closing. Because of the shorter sales cycle you are able to make money more quickly. Because the sales cycle is longer in commercial real estate it will take you much longer to make money than in residential. In commercial leasing you typically get paid half of the commissions within 30-60 days of lease signing and the other half when the tenant moves in. If buying commercial you would get paid at closing however keep in mind how long the deal takes to close from start to finish. I’m not saying it’s not possible to make money sooner in commercial however in most cases it’s a good idea to at least have 6-12 months of living expenses set aside. If you are a quick learner and diligent about prospecting you have a better chance of making money sooner. Work HoursCommercial real estate agents mostly work during business hours. Yes there maybe times where you work after hours or on weekends………however most work is typically done during the business week days. This is because you are working with businesses. Residential agents work with consumers who may not be available to see houses until after work or on weekends. So if you don’t want to work a lot of evenings and weekends then residential real estate is not right for you. How Much You Can MakeYou will hear people say you can make more money in commercial real estate than in residential. I don’t think that is totally true as I know people who do very well in residential. I think selling residential properties is easier than commercial however regardless of which you choose you still have to prospect and generate leads. No leads, no sales or leases. Most people are lazy. If you work hard every day to continuously learn your craft and are constantly networking, cold calling, prospecting, and work in real estate FULL time, you will do well. To make good money in real estate as a broker or agent you have to be in and around the business FULL time. You will not make good money being a part time agent. ConclusionAbove we have only touched on some of the main differences of commercial vs residential real estate. Commercial real estate transactions can be more complex and take longer to close from beginning to end, which means it takes longer to make money. However you have to decide for yourself which is the best route. Becoming a commercial real estate agent does not mean you will make more money. No matter which you choose you can make good money…………ONLY if you work hard at it!
via Blogger Commercial Vs Residential Real Estate – What is the Difference? If you are getting your real estate license and not sure if you want to have a career in commercial real estate vs residential real estate then you will want to read this post. There is a difference between the two and it’s important that you be aware of them. Below we will touch on some of the main differences of commercial vs residential real estate however keep in mind there are many more. EducationIn Texas anyone that wants to represent buyers, sellers, tenants, landlords, and tenants whether commercial or residential has to get a real estate license. The basic education requirements for this are the same for both. The core curriculum of the Texas real estate license weighs heavily on the residential aspects of real estate. If you want to get more commercial real estate education you will have to pay for 3rd party courses through CCIM or others………..and good ole on the job training. Finding a good mentor is key. Also there are many types of commercial real estate to learn and the nuances of each are different. Having a college degree may help you get your foot in the door with some commercial real estate brokerages however it’s not necessary. Some will say that you have to have a college degree to be a commercial real estate agent however I know plenty of commercial brokers that don’t have degrees. However if you want to increase your chances of being hired by a big commercial real estate firm then get a college degree. Type of Clients You Deal WithIn residential you are mainly working Business to Consumer (B2C) with individual consumers who want to buy, sell, or rent homes as your main point of contact. In commercial real estate you are working Business to Business (B2B) with your main contacts being business owners, CEO’s, CFO’s, COO’s, Operations Managers, and in many cases office managers and/or administrative assistants. If you don’t like cold calling businesses then you might stick with residential. How Long Deals TakeThe sales cycle is much longer in commercial real estate. In residential once you find a house you like, make an offer that gets accepted, you will typically close in 30 days or less. Also depending on the market you are in you only get 3-7 days for due diligence to complete and review the inspection report and get pricing on any repairs needed. Depending on the type and size of space, market, scope of work needed, zoning requirements, etc., commercial real estate transactions can take anywhere from 30 days to 12 months or longer. In most cases the minimum due diligence time frame is 30-45 days. A more complex transaction could require many months of due diligence Ramp Up Time to Start Making MoneyIn residential you typically get paid commissions at closing. Because of the shorter sales cycle you are able to make money more quickly. Because the sales cycle is longer in commercial real estate it will take you much longer to make money than in residential. In commercial leasing you typically get paid half of the commissions within 30-60 days of lease signing and the other half when the tenant moves in. If buying commercial you would get paid at closing however keep in mind how long the deal takes to close from start to finish. I’m not saying it’s not possible to make money sooner in commercial however in most cases it’s a good idea to at least have 6-12 months of living expenses set aside. If you are a quick learner and diligent about prospecting you have a better chance of making money sooner. Work HoursCommercial real estate agents mostly work during business hours. Yes there maybe times where you work after hours or on weekends………however most work is typically done during the business week days. This is because you are working with businesses. Residential agents work with consumers who may not be available to see houses until after work or on weekends. So if you don’t want to work a lot of evenings and weekends then residential real estate is not right for you. How Much You Can MakeYou will hear people say you can make more money in commercial real estate than in residential. I don’t think that is totally true as I know people who do very well in residential. I think selling residential properties is easier than commercial however regardless of which you choose you still have to prospect and generate leads. No leads, no sales or leases. Most people are lazy. If you work hard every day to continuously learn your craft and are constantly networking, cold calling, prospecting, and work in real estate FULL time, you will do well. To make good money in real estate as a broker or agent you have to be in and around the business FULL time. You will not make good money being a part time agent. ConclusionAbove we have only touched on some of the main differences of commercial vs residential real estate. Commercial real estate transactions can be more complex and take longer to close from beginning to end, which means it takes longer to make money. However you have to decide for yourself which is the best route. Becoming a commercial real estate agent does not mean you will make more money. No matter which you choose you can make good money…………ONLY if you work hard at it!
via Tumblr Commercial Vs Residential Real Estate – What is the Difference? If you are a startup or newer company that needs the flexibility of a short term office lease then you might want to check out this 1,233 sf office sublease in Northwest Austin. In the Northwest Austin metro the office market is very tight and most landlords won’t do any leases less than 3-5 years. This sublease only has 21 months of term left so this is perfect for companies that are just getting started and not ready to commit to long term contracts. This space is move in ready and all utilities are included in the rate. If you need to lease office space in Austin and need a short term lease give us a call at 512-861-0525 Details of This Northwest Austin Office Space SubleaseSize: 1,233 Sf Layout: Reception, 5 offices, open area for desk, wet bar Building Name: Synergy Plaza South is a 3 story professional building with common are lobby and bathrooms Address: 11940 Jollyville Rd, Suite 320-S, Austin Tx 78759 Rental Rate: $29 sf gross (this includes electric and janitorial) Floor Plan for Suite 320-S at 11940 Jollyville RdContact Us About This Northwest Austin Office Space SubleaseFor more details about this NW Austin office space sublease call Nathan K Smith at 512-861-0525 If you need to rent Austin office space in other areas let us know and we can help you find the perfect space at no cost to you. via Tumblr 1,233 SF Short Term Office Sublease For Rent in Northwest Austin Plaza 7000 is a Class A Office Building located in Northwest Austin at the corner of Far West Blvd and Mopac. If you are looking for nice office space with convenient access to major highways, hotels, shopping areas, and restaurants this is worth checking out. It’s great for small to medium size businesses. Building Information
ParkingThe parking ratio is 4 / 1000 sf. There are 285 free covered spaces available Building Amenities
LocationThe address is 7000 N Mopac Expressway, Austin, Tx 78731. Located at the corner of Far West Boulevard & Mopac Exp. Transportation Information
Cost to Lease Office Space at 7000 N MopacCurrent quoted lease rates are $30 + $15.05 nnn. What that means is if you leased 4,000 sf your monthly rent would be $15,000 per month (4,000 sf X $45.05 sf / 12) Available Office SpaceInterested in leasing office space at Plaza 7000 in Austin? Give us a call at 512-861-0525. If they don’t have what you are looking for there we can help you locate other class a office spaces in NW Austin. via Tumblr 7000 North Mopac Expressway – Plaza 7000 Office Rental Guide If you are a startup or newer company that needs the flexibility of a short term office lease then you might want to check out this 1,233 sf office sublease in Northwest Austin. In the Northwest Austin metro the office market is very tight and most landlords won’t do any leases less than 3-5 years. This sublease only has 21 months of term left so this is perfect for companies that are just getting started and not ready to commit to long term contracts. This space is move in ready and all utilities are included in the rate. If you need to lease office space in Austin and need a short term lease give us a call at 512-861-0525 Details of This Northwest Austin Office Space SubleaseSize: 1,233 Sf Layout: Reception, 5 offices, open area for desk, wet bar Building Name: Synergy Plaza South is a 3 story professional building with common are lobby and bathrooms Address: 11940 Jollyville Rd, Suite 320-S, Austin Tx 78759 Rental Rate: $29 sf gross (this includes electric and janitorial) Floor Plan for Suite 320-S at 11940 Jollyville RdContact Us About This Northwest Austin Office Space SubleaseFor more details about this NW Austin office space sublease call Nathan K Smith at 512-861-0525 If you need to rent Austin office space in other areas let us know and we can help you find the perfect space at no cost to you. via Blogger 1,233 SF Short Term Office Sublease For Rent in Northwest Austin Plaza 7000 is a Class A Office Building located in Northwest Austin at the corner of Far West Blvd and Mopac. If you are looking for nice office space with convenient access to major highways, hotels, shopping areas, and restaurants this is worth checking out. It’s great for small to medium size businesses. Building Information
ParkingThe parking ratio is 4 / 1000 sf. There are 285 free covered spaces available Building Amenities
LocationThe address is 7000 N Mopac Expressway, Austin, Tx 78731. Located at the corner of Far West Boulevard & Mopac Exp. Transportation Information
Cost to Lease Office Space at 7000 N MopacCurrent quoted lease rates are $30 + $15.05 nnn. What that means is if you leased 4,000 sf your monthly rent would be $15,000 per month (4,000 sf X $45.05 sf / 12) Available Office SpaceInterested in leasing office space at Plaza 7000 in Austin? Give us a call at 512-861-0525. If they don’t have what you are looking for there we can help you locate other class a office spaces in NW Austin. via Blogger 7000 North Mopac Expressway – Plaza 7000 Office Rental Guide |
AuthorThe experienced commercial realtors at Austin Tenant Advisors specialize in representing the best interests of buyers and tenants in the Search, Selection, Negotiation, and Occupancy of Office, Retail, Industrial & Warehouse Space for lease, rent, or sale in and around Travis, Williamson, Hays, Bastrop, & Burnet Counties, which are the 5 largest counties in Central Texas. We serve the surrounding cities such as Pflugerville, Round Rock, Georgetown, Leander, Cedar Park, Lakeway, Bee Cave, Sunset Valley, Dripping Springs, Buda, Kyle, San Marcos, Burnet, Marble Falls, and more. Archives
November 2020
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