Commercial Real Estate: Your Broker and Your Attorney Both Play Important Roles
Our firm handles commercial real estate transactions of all kinds: Acquisitions, Sales, Commercial Leases, you name it. Most of our work is referred to us by commercial real estate brokers we’ve worked with in the past or who have been referred to us by those familiar with our firm. Our relationships with brokers are some of our most valued and we welcome the opportunity to work with knowledgeable and dedicated brokers to provide the best service and value to our mutual client, whether they are a buyer or seller of commercial real estate, a commercial landlord or tenant, or a developer. We believe that the broker and the attorney, working as a team, are key to a successful transaction.
Successful teamwork occurs when there is good communication between the parties involved: the client, the broker, and the attorney, on the one hand, and the opposing party, their broker, and their attorney, on the other. Working together, the broker and attorney bring different strengths and perspectives to the transaction and each plays an important role in guiding the client to a successful outcome.
For example, an experienced and active broker knows the real estate market, knows the value and details of the subject property, and knows the relative bargaining power of each party. He or she can bring that information to bear in negotiations and in communications with the other party and their broker to structure the best deal possible for the client.
An experienced and knowledgeable attorney knows the law as it pertains to the transaction, title matters and land use issues, knows how to draft contracts, closing documents and leases to the benefit of the client, and knows how to resolve disputes or work through problematic legal issues with opposing counsel in order to keep the deal moving forward. While the broker works to negotiate and structure the best deal possible, the attorney works to make sure the transaction is properly executed and documented to accurately reflect the agreement between the parties.
The most successful deals result from a collaborative effort between your attorney and your broker, both of whom should be focused on your needs and goals and on working together to achieve them. Not only do we appreciate our relationships with all our clients, but we also greatly appreciate our relationships with commercial real estate brokers and place great value on the important role they play in accomplishing the client’s goals.
Author: Brad Hester