When it comes to commercial real estate, there are three types of professionals who can assist tenants in leasing space:
While they may seem similar on the surface, there are some distinct differences which can significantly impact a tenant's experience and overall deal terms.
Here's what sets them apart ...
Traditional leasing agents work on behalf of landlords, marketing their spaces and representing their interests in negotiations.
They offer in-depth knowledge about the properties they represent, including amenities, lease rates, and landlord preferences. However, they will always strive to get a great deal for their client, the landlord, which may not always align with a tenant's best interests.
So, while traditional leasing agents can assist tenants in securing a space, it's important to remember where their loyalty ultimately lies.
Many traditional real estate agencies have dedicated departments that specialise in tenant representation. They often have access to a wide range of listings within their agency's portfolio and possess industry knowledge and insights to help guide you through the leasing process.
However, their affiliated agency also represents landlords. So, while they may claim to be independent, staying wary of this is important because of the inherent conflict of interest that comes with balancing the interests of both parties.
To put this into perspective, according to PCA, in Sydney CBD alone, the top five agencies with in-house tenant rep departments are also currently leasing 350K+sqm of the total circa 500K+sqm of vacant space.
Independent tenant representatives work solely for tenants, advocating for them throughout the leasing process.
They are not affiliated with any specific landlord or leasing agency, nor are they tied to a portfolio of listings.
Being conflict-free, independent tenant representatives will show you all market options (including off-market, assignment and sublease opportunities ) from all agencies and provide unbiased recommendations based on what is best for the tenant.
They possess a deep understanding of the local market and strong negotiation skills. They also take the time to understand your unique requirements, business goals and budget constraints. And this allows them to search for spaces that align with your specific needs and enter negotiations with a tenant-centric mindset.
Depending on the size of your company and the length of your lease, real estate mistakes could cost your company millions. So it's crucial for you to have someone in your corner who understands your needs, can guide you through the process and will advocate on your behalf.
At Tenant CS, we're real estate experts who exclusively represent commercial tenants. In an industry favouring landlords, we negotiate on our client's behalf to secure best-fit premises, rental savings and tenant-centric lease terms.
We've worked with hundreds of businesses that lease commercial office, retail and warehouse space across Australia, Singapore and New Zealand, including Essilor Luxottica, LVMH, Breitling, Danone Nutricia and Menulog. Everything we do is driven by our mission to level the playing field for commercial tenants.
Got an upcoming real estate project? Book a discovery call with our team to see how we can help.