It can be difficult selecting a suitable firm to help you to identify and secure new premises as there are hundreds of property agents in London and the regional markets. It is wise, therefore, to think about what it is that you are looking for in an office relocation agent to ensure they will bring maximum value throughout the process from understanding your space requirements through until move-in date.
Ultimately, the main purpose for you to instruct an expert is to help you through your relocation process in order to significantly save time, resource and stress.
This article will explain how to differentiate between the various property agents and to identify what value you need to receive from the one you desire to instruct.
The Traditional Agent
The vast majority of companies appoint an office relocation agent, typically with an expensive price-tag. It’s not to say cheaper is better, but the problem which most companies are still not aware of is that their agent doesn’t only represent them, but the landlord too.
Think about it: They also work for the landlord, albeit on separate deals, with the instruction to achieve a higher rent as possible.
How can you agent negotiate massive savings for you and maximise rental income for the landlord?
The Modern Agent
A tenant-only agent solves this problem (the clues in the title).
In the current market, it’s so important for you to receive impartial advice about your strategic options as well as making sure that you get the best deal at negotiations. For example, your agent should be able to challenge your decision to relocate to a new office premises, as often companies think it is their best options but there could be alternative ways to reduce costs and/or best accommodate your staffing levels.
Presuming an office relocation is your best option (or part of the overall strategy), your agent should make recommendations and discus tactics from an early stage of working together, in order that you can receive the best results throughout the process.
Other Ways Your Agent Can Show Value
The relocation process is lengthy and complex so the ideal scenario is to work with a ‘partner’, not just an agent per se. To bring added value to the table, your property partner should have data and market knowledge that is relevant to your property search and negotiations. They should also be able to think outside of the box and find creative solutions to best structure the lease agreement.
A good grasp of the technical side of the project will make your life easier, in addition to recommending suitable associates for any part of the move which may be outside of their own strengths, for example, a technology consultant or solicitor.
Value for money
It is known that fees for property agents is expensive, but the value that they bring to your relocation process, from developing your brief through until negotiation and move-in, should far outweigh the cost.
Enquire as to whether a free evaluation of your options is available and in addition a free lease assessment (this may be offered on their company website).
You should benefit from transparent fees, such as a ‘no saving-no fee’ basis, depending on the services that you require. Finally, if you’re undecided about which agent to use but have obtained a quotation, see if the property firm will offer a ‘price match guarantee’.
You want an office relocation agent who has patience to explain each aspect of the relocation process in simple language without technical jargon and who can provide you with impartial advice. If you feel comfortable with them and trust their credentials, you stand a good chance of a smooth relocation process and a successful working relationship that can result in you saving significant time and money.