“An expert is a person who has made all the mistakes that can be made in a very narrow field.” —Niels Bohr, Danish Physicist and Nobel Prize Winner
As industry experts know, real estate is both a science and an art. The attrition rate for Commercial Brokers entering the business is more than 70%. Of the remaining 30%, only 10% are considered successful by industry standards. For a long time, people have thought of Real Estate Brokerage as just a standard service—something that’s basically the same no matter who you work with. Many consumers, and even governing boards, have believed that property has a set value, and the Broker’s only role is to help complete the paperwork and pass the keys along.
This couldn’t be further from the truth, especially in Commercial Real Estate. In our last blog,
The Secrets to Real Estate Success: Part 2, we shared a scenario that made this clear. As that example showed, there are multiple points of negotiation in every deal, many of which never even surface unless the Broker is a true expert in that specific type of transaction.
Success in Commercial Real Estate takes more than simply showing up with a license. It demands proven knowledge, smart strategy, and deep expertise. A skilled Broker understands property types and values, local market trends, industry-specific nuances, negotiation tactics, and how to work seamlessly with other professionals. True expertise means analyzing multiple factors and using that insight to create an advantage for the client.
Plenty of Brokers can guide you to a “good enough” deal. But if you want exceptional results, seek out the top 10%—the Broker who delivers a true fiduciary outcome, not just a satisfactory one.
How to Select the Best Firm and Broker to Protect Your Interests
Selecting the right Broker is critical to securing the best possible outcome for your real estate needs. Use these points to guide your decision.
1. Choose a true Tenant/Buyer representation firm or require a strict Buyer-Agency agreement.
Look for a reputable firm that works exclusively on your side of the deal. If a Broker represents even one Seller/Landlord property, it creates a conflict of interest because their duty is divided between getting you the best terms and promoting the property they represent. In that situation, the Broker cannot be entirely objective when advising you, since they have a financial incentive to push their own listing. By choosing a firm that does not represent Landlords or Sellers, you ensure the Broker’s loyalty is fully aligned with your goals. Stay tuned for our next blog,
The Secrets of Real Estate Success: Part 4, where we will dive deeper into this important topic.
2. Ensure the firm has solid training and best practices in place, including:
- Commercial Real Estate expertise
The firm should have clear standards for determining the most advantageous time to negotiate a lease. If you wait too close to your lease expiration, the Landlord gains leverage. If you start too early, you risk paying double rent, locking in an above-market rate, or accepting unfavorable Tenant Improvements (TIs). - Proven negotiation strategies and Broker training
The firm should hire and train Brokers who can thrive in tough negotiations, and prioritize the client’s needs above their own desire for quick approval. - In-depth market knowledge
Brokers should receive training on both complementary and competing uses within your industry, whether that is medical, dental, veterinary, or another specialized field, as well as the risks of oversaturating a market. The firm should provide tools and research that help Brokers identify the best locations for clients in these sectors. - Specialized medical real estate expertise
Look for a Broker or firm with a proven track record in your specific field, whether that is medical, dental, veterinary, or another area of healthcare. Understanding the unique facility requirements, patient flow considerations, and financial strengths of healthcare practices can add thousands of dollars in value during negotiations and help secure terms that truly fit your needs.
Have questions? Give us a call. We’re happy to help out and make sure you’re set-up for success.
