Heather Muenchen On Finding The Right Commercial Real Estate Broker & The Right Location For Your B

Heather Muenchen On Finding The Right Commercial Real Estate Broker & The Right Location For Your B
Heather Muenchen On Finding the right Commercial Real Estate Broker & The Right Location For Your Business

There is an old saying in the commercial real estate world called “location, location, location.” Many people in the business world have simply taken this saying to mean that “if we find the best location then all of our worries or over.”

In part this ideology is true, unless you had to sell the soul of your business in order to acquire that location.

Finding the perfect location is really only half of the battle if you are a small business owner. I placed emphasis on small business owner because many larger corporations have the finical feasibility to withstand accepting unfavorable terms for their latest expansion, but for a small business owner one bad swing means youre out.

There are also other factors to consider when searching for the perfect location for your business, and this is where having the perfect broker can be essential to your success. The perfect broker is in tune with your business plan and has mastered how to blend his expertise with your plan in a way that produces what is best for your business, rather than what is best for his firm.

In a recent interview with Ron Collin he stressed the importance of making sure youre not making an emotionally based decision.
Many of times we can get very emotionally involved in one particular option because its captures what we have always envisioned for our business, but I challenge you to step away from the table for at least 3 weeks. Allow yourself time to process every aspect of the deal before you dive head first, and ask yourself if you still feel the same urgency after a period of three weeks.
Ron Collins went on to say that a minimum of at least 3 weeks is enough time to measure if you are making an emotional decision, are one rooted in reality.
Accepting the wrong terms or the wrong location simply because you didnt allow yourself time to process will place your business in the red before you even cut the ribbon. Please keep in mind that with the struggling real estate market you will get more chances at bat to find the perfect location. I know it can be very difficult to ask for time to count up the cost, but trust me when I say that your future success depends on it.

Having a broker that is trying to rush you into a location simply because it will shorten the waiting period for him to get his points will most definitely land you, and your small business in a very bad situation.

Location, location, location, is very important but so are terms, cost of insurance, and the cost of the money you’re borrowing. My advice is that you spend just as much time interacting with your broker as you spent during your search for the perfect location. In the commercial real estate world the perfect location is just as important as the perfect broker representative.

Heather Muenchen http://www.fundingyourrehab.com

Heather Muenchen On Finding the right Commercial Real Estate Broker & The Right Location For Your Business

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