Landlord / Brokerage Services:
Provided to the Seller as a Client
Commercial Project Management’s success is built on taking a personal interest in the success of a client’s property and/or business needs. Our approach requires and in-depth interview process in order to not only get to know the subject property, but to understand the seller’s motivation and expectations for the transaction, as well.
Brokerage services with Commercial Project Management would also include assisting in TI design, assist in review of lease documents, business points, provide application for lease of prospective tenants and assist in the qualification of those tenants, lease negotiations and analysis of offers to lease/sell.
To help accomplish this goal of finding qualified tenants/ buyers, CPM commonly does the following:
- Listing the property available to the public, often on different Online Services, in addition to many other methods.
- Preparing necessary papers describing the property for advertising, pamphlets, flyers, brochures, etc.
- Generally placing a "For Lease/Sale" sign on the property indicating how to contact the real estate office and agent.
- Advertise the property. Advertising is often the biggest outside expense in listing a property.
- Being a contact person available to answer any questions about the property and to schedule showing appointments.
- When deemed appropriate, prescreens tenants/buyers to ensure they are financially qualified to buy the properties shown (or uses a Commercial Lender, to do that task).
- Negotiating price on behalf of the sellers. The Commercial Project Management acts as a fiduciary for the Owner. This may involve preparing a standard real estate purchase contract by filling in the blanks in the contract form.
- In most cases, depositing an earnest payment check in escrow from the buyer(s) until the closing. Typically closings take place during a defined escrow period when buyers and sellers each sign the appropriate papers transferring title, but do not meet each other.
Buyers as Customers
With the increase in the practice of buyer brokerage in theUnited States, especially recently, CPM has been able to represent buyers in the transaction with a written "Buyer Agency Agreement.” This agreement is not unlike the "Listing Agreement" for sellers referred to above. In this case, buyers are clients of the brokerage.
CPM endeavors to find real estate in accordance with the buyers' needs, specifications, and affordability.
CPM provides the following services for the buyers of real estate under a Buyer’s Agency Agreement:
- Perform a needs and market analysis identifying potential properties based upon the buyer’s needs.
- Take buyers to and shows them properties available for sale.
- When deemed appropriate, prescreen buyers to ensure they are financially qualified to buy the properties shown (or uses a Commercial Lender to do that task).
- Negotiates price and terms on behalf of the buyers and prepares standard real estate purchase contract by filling in the blanks in the contract form. The buyer's agent acts as a fiduciary for the buyer.
Leasing- Tenant Representative
CPM’s hands-on approach to the Leasing process begins with the Needs Analysis, then a Custom Market Survey and Site Selection, followed by the Negotiation and Documentation phases. This personalized relationship will insure that we match the right property that meets your needs.
By identifying the Needs of the Tenant, CPM’s experienced Broker/Salespersons can minimize the daunting task of finding the “Right Site at the Right Price.” The Needs Analysis can be broke down in to the following four areas:
- Business Specifics
- Site Requirements
- Time Frame
Under business specifics, the CPM professional will need to know the business type, size, number of employees, history and entity specifics. (i.e. Sole Proprietorship, LLC, Partnership, or Corporation, etc.)
The Site Requirements may include amenities such as location, space sizes, number of overhead doors, ceiling heights, power supply requirements, internet connections, parking and storage needs.
Budget considerations should include move-in costs, deposits, First Month Rent and length of term which will have a direct impact on the base rent and any potential escalation adjustments.
Customized Market Survey and Site Selection
In order to optimize the selection process, a customized market survey and qualified site selection process is essential.
Site Searches will be conducted based upon the information provided in the “Needs Analysis.” Once a list of qualifying properties is developed site tours will be scheduled.
Negotiations and Documentation
Once the candidate properties are narrowed down to the desired site Negotiation commence with a Letter of Intent addressed to the property owner or his/her agent. The Letter of Intent to Lease identifies the primary terms and conditions that the Prospective Tenant is willing to Lease the subject property. If there should be a counter offer the Prospective Tenant will then decide if they want to either accept, decline or counter the revised terms and conditions. Once basic terms and conditions are agreed upon a Lease will be prepared and consummated.