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Frequently Asked Questions
What is Tenant Representation?
In many real estate transactions, the broker represents the landlord or owner. If the broker has a written agency agreement with the owner, the broker has a legal obligation to represent the best interest of the owner, and negotiate the best deal possible. Conversely, a Tenant Representative has a fiduciary duty to negotiate the best possible deal for the Tenant. A Tenant Representative will present you with a range of properties that meet your needs, and will help you negotiate favorable terms in your lease.
What type of businesses does Tenant Real Estate Advisors represent?
- Retailers: Franchises, Restaurants, Start up businesses
- Medical: Physicians looking to lease space or purchase a building
- Office & Warehouse users looking to lease or purchase
- Developers, Doctors, Businesses looking for land to build
- Tenants that need help with relocation, renegotiating renewals, ETC.
If I really want to stay in my current location, why do I need TREA?
The biggest mistake that tenants can make is not developing alternatives to their first choice. Once a landlord believes that a current tenant is planning to renew, immediately the tenant loses his negotiating leverage and the landlord is in control. We often hear “I don’t want to move” or “It will cost too much to move” both of which are deadly statements if you want to renegotiate your lease. Every tenant must develop a plan “B”, “C”, and maybe even “D”, the next best alternatives. This will allow you to enter the lease renewal negotiation in a position of power. TREA will ensure that your landlord is aware of the options you have in the market without creating an adversarial relationship. We will make you aware of deadlines and provide you with the negotiating leverage you need to achieve the best economics and business terms.
What can TREA provide that I can't get on my own?
A landlord and his broker are in the business of knowing and understanding real estate market conditions in the vicinity of their property. They know the up to date details of recent transactions in the area, and they know who else is interested in the space you are interested in. It is extremely difficult, if not impossible for tenants to have as much information as landlords, putting the tenant at a definite disadvantage. With our nationwide affiliations, TREA can provide you with up to date market information so that you can make informed decisions. Then we will work diligently to create the best real estate solution possible, with assistance in all of your real estate needs from strategic planning to fine-tuning the lease to ensure that your real estate supports your business.
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Tenant Real Estate Advisors
100 Decker Court,
Irving, Texas 75062