How would I go about leasing out a commercial building, and not using a real estate agent?
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[{"id": "egd2dbp", "text": "Put a sign in the window and wait for the phone to ring. ", "replies": [], "depth": 1}, {"id": "egd2nby", "text": "Sign in the window, big sign somewhere on the property - ideally somewhere visible. Put it on CoStar if you have access, LoopNet, Craigslist, Commercial Cafe, 42Floors, officespace.com...literally every single site with any sort of visibility. Reach out to local brokers in your area and make them aware of the property. MRIS to get residential agents aware of it too, assuming you have smaller suites. \n\nOr try hiring representation. ", "replies": [{"id": "egd3pp7", "text": "Some of them require real estate agent\u2019s license number", "replies": [], "depth": 2}], "depth": 1}, {"id": "egd3een", "text": "Commercial Agent here... Just out of curiosity, what\u2019s your reasoning behind trying to market it and lease it on a direct basis?", "replies": [{"id": "egd4ct1", "text": "Commercial agent here as well, it's pretty obvious... He doesn't want to pay fees. ", "replies": [{"id": "egd6tre", "text": "Well the OP needs a news flash. By paying fees you are mitigating risk. \n\nAnd if the opportunity isnt good enough for the broker he will likely still give you a recommendation on rate, term, and market expectations/ tenants in the market.\n\nOP should talk to a broker.. probably more then one.", "replies": [{"id": "egd71n3", "text": "Never said it was a good reason or that he was making the right  choice. Just stating that it's obviously his reason. See my other comment, I completely agree with you. ", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "egd5byn", "text": "I work on the ownership side (i.e. I'm not a broker) so I don't really have a vested interest in brokers earning fees. However, honestly: if you have to ask, you should be seeking representation. Most good brokers are truly an advisor and will help you make the best decision for your property. Many will seek to represent you on a sale of the property as well, so they have a vested interest in doing a good job, keeping you happy, and maximizing the potential value of your building. ", "replies": [{"id": "egdz1ol", "text": "&gt;honestly: if you have to ask, you should be seeking representation. Most good brokers are tr\n\nI make my living selling hard to sell items. I've sold everything from high end cars, early picasso prints, to a full cargo ship.\n\nI know a really cool guy who owns a beautiful building in Southern California. he invited me to breakfast yesterday to have a \"serious\" talk. Figured he had something cool for me to try and sell. We met at 7am at a del taco. he pretty much gave me his bucket list dream in the form of a high glossy folder and his plans to build a vessel and sail the world helping people with a non profit idea. his biggest issue is he doesn't want to sell his building in southern california and he thinks he needs about $10k a month additional to what income he has coming in to make his dreams a reality.\n\n&amp;#x200B;\n\nHe told me he has been trying to rent his building out and has had no luck with 2 different brokers. he \"needs\" a 10 year minimum lease. he handed me his agents most recent brochure and asked me what I thought. I told him I hated the photos they used, I didn't like they didn't mention the building was zoned for business &amp; commercial use, I didn't like the fact that the \"meet your neighbors\" section included extremely old/ugly photos of businesses near by, and the brochure didn't include anything showing how much commercial value in his area has risen.  He told me he agreed and said he wanted me to meet with his realtor who was coming by his place in a few hours.\n\n&amp;#x200B;\n\nWe talked, I gave my input that his online ads had wrong sq footage on it, and that his listings seemed very \"cookie cutter\". he agreed and said he has a ton of clients who would all demand better listings if he went out of his way for one listing. he used the following line:\n\n&amp;#x200B;\n\n\"If someone wants a building, they will find it\"\n\n&amp;#x200B;\n\nwhich is not a philosophy i agree with. After the meeting I told my friend that he should try to find a new realtor after the 4 weeks left on his current agents contract ends. he pretty much pleaded that I help him rent it out. I told him I knew nothing about real estate, and that I wouldn't want to risk screening an applicant. he said he would worry about the legal stuff, and the screening. he just needs someone who wants to lease out his building and he offered me a nice finders fee. he even told me that he was so desperate to have his building rented that If I found a tenant and they wanted to make improvements to the building to fit their business as long as the money was being put into the building he would give up the first 20 months of rent.\n\n&amp;#x200B;\n\nhe's desperate and I want to help him out because I do feel people should live out their dreams. $10k a month for the building is a little high, but I don't think it's too crazy. especially with the fact a tenant would have the freedom to change the building to fit their needs  \n\n&amp;#x200B;\n\nSo I reached out to an aerial photographer that I know. he agreed to take some really nice high quality drone footage of the building, and the nearby buildings for free. I figured I would just post on here and get an idea of where people tend to advertise their commercial properties. and I guess I'm trying to spend the next 2-3 weeks to see if I want to even attempt to advertise his property and find someone who would lease it. \n\n&amp;#x200B;\n\nreal estate is a different business. it's not like, art, cars or boats where you can join forums filled with enthusiasts and people seeking those specific items and ship it to them. its limited to the town you are local to.\n\n&amp;#x200B;\n\nso yeah... I guess it boils down to a negative experience with a broker for a guy who is desperate, and me potentially seeing an opportunity to make some extra cash and help someone out if I could find someone wanting to lease it out.", "replies": [{"id": "ege294u", "text": "Well, you can do what you want, but since you're acting as a broker in exchange for a fee, doing so without a brokerage license is illegal. If you were renting your own property there's a specific exemption but since you don't own it... \n\nAnyway, if this is a commercial property you shouldn't be using a realtor but a commercial broker from a national firm like CBRE or JLL. That could explain the poor experience he had. \n\nGood luck!", "replies": [], "depth": 3}, {"id": "egerosw", "text": "This has already been stated but you can't sell, lease, or market someone else's property without a license, it is illegal. ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "egd5pd8", "text": "...walks into a sub full of brokers asking brokers how to not use a broker. You need a broker. ", "replies": [], "depth": 1}, {"id": "egd7033", "text": "The money you will save in fees you will likely lose in vacancy, lower rents, or other variables that a good agent with connections in your city can help avoid. You do you though. Unless you're very experienced and knowledgeable just get a good agent. Also lots of agents will be less willing, if not willing at all, to bring clients to your property if you're not paying fees to someone who brings your a buyer. ", "replies": [], "depth": 1}, {"id": "egffz1v", "text": "Marketing materials don't win or lose you a lease.  10 year deals are hard to attain, especially if the LL isn't willing to put in Tenant Improvements or pay outside brokers, regardless of how much abated rent the ownership throws at a Tenant.\n\nAll the drone footage in the world, or even decent brochures, isn't going to lease that building.  Market terms and not being a slum lord probably will.  He's chasing the market downwards, probably hired the broker he got on a discounted rate, hence the lack of professional or updated photography (that's an upfront broker expense, if said broker is getting shafted on the LC he/she isn't going to put any money, or much effort into it).\n\nAnd now there's REC questions.  Your buddy is going in the wrong direction.  Hire a broker, fix up the property, offer LC and TI packages.  If he doesn't have that nut he's already fucked, and tt's probably too late in terms of damage he's done to the building's reputation.  \n\n&amp;#x200B;\n\nThis one is going back to the lender.", "replies": [], "depth": 1}]