As you well know if you are a real estate agent, it is very unlikely that you will find the perfect property the first time you try, or even ever. You
As you well know if you are a real estate agent, it is very unlikely that you will find the perfect property the first time you try, or even ever. You will likely have to make compromises and sacrifices, as well as be forced to consider things you hadn’t originally planned for as you situate your new brokerage in its new home.
While there will be endless compromises for you to make, this does not mean that you should throw all of your criteria out the window. (Hopefully your new location has nice windows that let in a lot of good light and don’t invite the tossing-out of anything important!) You should at least consider as many factors as possible, even if some of them do not turn out as ideally as you wish.
What kind of environment do you want to work in? The physical space in which people work or live actually has a lot of influence on the types of habits and relationships they form. Do you want a more open space, with the option to divide it into cubicles? Do you want a maze or a gallery hall?
Shared space and surrounding neighborhood
Where is your potential new property located? Just as you would for a listing that you are planning on showing to a client, you should do some research on the neighborhood and consider what kinds of foot and road traffic are likely to pass by your establishment. Does the building allow you to announce your presence to passersby? How will you attract new clients?
Consider also what kinds of businesses you are sharing space with if you are located in some sort of complex or industrial park. Take advantage of neighbors whose fields mesh well with yours, and build relationships with them that may eventually lead to referrals or simply a strengthened professional network.
Other considerations in terms of surroundings and neighbors include the noise level and convenience of locating your office. You can always make your office easier to locate with extra signage, and noise level can be ignored, but consider the price you are willing to pay for your location and the price your clients would be willing to pay to conduct business there. Try to minimize factors that would potentially turn away clients.
Amenities and expansion
If a property does not check all of your boxes, it may check some boxes you didn’t even know you had. These extra perks and amenities could make it worth it to settle down there and find ways to deal with the less-than-ideal elements of your new location.
Examples of these types of bonuses include ample free parking, brand-new air-conditioning system, or free or discounted advertising on a plaza billboard or even a storefront.
You should also think about what the property would offer in terms of accommodating expansion. If your business grew, would you have to move? Or would you be able to capitalize on your chosen space even better? What would be the benefits and drawbacks of either approach?
The bottom line is that you never know what a location can offer you, and you should remain open-minded while also holding fast to the considerations you bring with you.