In today’s digital world, information is readily available at our fingertips. Commercial property sites have increasingly refined their programmes to present information as accurately as possible to potential corporate clients or occupiers. The asking price, surrounding transport nodes and food options in the vicinity are just some variables that one can have access to at the click of the mouse. It has become easier to compare these variables before deciding which office meets business needs compared to say, a decade ago.

With an increasingly cognisant and shrewd client base, what role then, does the office broker play in today’s digital world?

Offers expert knowledge and advice

As an expert, an experienced office broker is able to provide professional advice on office strategy to corporate occupiers. With years of experience operating in the office market and having handled numerous transactions, office brokers have the rental evidence to point out if the rent at a particular building is bang for its buck. They also play the role of an “insider” which literally means they are likely able to get firsthand news of when a certain unit or property is becoming available and 4 would be cognisant of the landlord’s rental expectations.

Acts as a single point of contact

Office lease transactions involve a lot of negotiations and documentation with possible pitfalls throughout the process. This is where the office broker comes in as a single point of contact to consolidate the information offered by a multitude of different landlords and sieve out the best suited or most cost-efficient deal. It is also common market practice for the landlord to pay the commission which explains why many clients and prospects would prefer to opt for the option of having a professional guide them along.

Extracting increased value from a few properties

It is well known that leverage is derived from competition and engaging an office broker helps to create a competitive platform among landlords that inevitably leads to improved terms for occupiers. The due diligence and strategy implementation that a good office broker undertakes for the occupier also helps to ensure that maximum value is extracted from the leasing deal and ensures that the tenant is not left with high offers that are way above the prevailing state of the market. 

Leasing office space can be a fairly complicated process, and if not tackled correctly could lead to numerous pitfalls. Ultimately, using an office broker to assist with the whole process means that occupiers can rest easy knowing that the whole process is professionally and effectively managed. 

In the future, advancements in technology and the increased influence of AI may play an even larger role in the office market. However, it cannot replace the depth of knowledge and the human touch an outstanding broker brings. 

Contact our Commercial Leasing Team today for all your leasing needs.