What Does an Office Broker Do?
What Does an Office Broker Do?
What are office brokers, and can they really get you the best deal on your new office space? Here's our comprehensive guide to everything you need to know about office brokers in the UK, the benefits of using brokers, what the costs involved are, and what the process looks like.
What exactly is an office broker?
A broker is an individual or organisation which acts as an intermediary to arrange transactions between a buyer and a seller. Office brokers arrange and negotiate office contracts between the office provider and the organisation who wants to rent it.
That's the short explanation. But what do office brokers actually do in order to arrange and negotiate these contracts, and what benefits do they provide?
What do office brokers do?
Let's say you're looking for a new office in London. You may have some idea of what sort of areas you are looking at and what sort of office you need, but searching for the best office spaces and arranging viewings can be time-consuming. Maybe you've already scrolled through hundreds of listings and read pages of information about various options, but figuring out which locations to visit and how to get the best deal can be a challenge.
This is where an office broker comes in. An office broker will already have connections to office providers in your chosen area. By sharing with them your requirements and preferences they can help quickly find a range of amazing offices that fit your specifications.
For example, if you are looking for offices in locations in London, the broker can help you narrow down your search to a carefully curated section of offices in desirable areas such as Shoreditch, Aldgate, Clerkenwell, and Borough Market. If you need an all-inclusive office where you can move in straight away, the broker can show you the options for serviced offices and coworking spaces in those areas. The broker can also share expert advice to help you ensure that your office search runs smoothly.
Next, the office broker can arrange viewings for your preferred properties or you can arrange them independently. For time-poor business founders and CEOs, having the broker arrange and organise viewings can be a great way to save time and better fit the viewings in your busy schedule.
Let's say that you really like one of the serviced offices in central London. At this step in the process, your expert broker can step in to negotiate the best possible offer for you. This means that you can enjoy the most cost-effective deals on your new serviced office rental. Then, you sign the contract on your swanky new serviced office in an up-and-coming part of London and start preparing to move in. If there are any disputes or problems with the office provider, the broker can resolve any issues.
What don't office brokers do?
Although office brokers are a valuable asset in your office search, there are some things that they do not do. Office brokers do not make any decisions or sign contracts on behalf of their clients; this power remains entirely with you. Moreover, brokers cannot impact the market conditions or which properties are available, although they can benchmark the market to ensure that you are getting a great price.
How much do office brokers cost?
Office brokers cost nothing to you; the expert advice, viewing scheduling, and deal negotiations are all free. This service is free to you because office brokers make their money from the office provider. The provider pays a retainer fee to office brokers like Future Squared so that the broker will introduce their properties to the perfect clients.
Why use an office broker?
There are a wide range of benefits of working with an office broker to find your next office space. Here's a quick summary of some of the advantages.
Find your perfect new office faster
Office brokers are a great way to save time and maximise efficiency throughout your hunt for the ideal new office. By listening to your specific requirements and providing you with all the options that meet your budget and needs, office brokers help you narrow down your search. This is perfect for businesses and companies that are strapped for time, but need to move to a new location quickly.
Have experts negotiate the best rates for you
Office brokers can negotiate the most cost-effective contracts for your business' next office space, helping save you money. With brokers, you can feel confident that you will never find yourself tricked into paying too much for your serviced office or managed office.
Enjoy exclusive deals not available to the public
Office brokers have good relationships with many office providers and landlords, receiving information about exclusive deals and new offerings that have not yet been made available to the public. By working with an office broker, you can widen your search pool to include these exclusive deals.
Avoid costly mistakes with brokers' expertise
Office brokers know the commercial real estate market inside out. They may have different specialisations such as flexible office space or particular locations such as London or Edinburgh, but the common theme is that teams of brokers know it all about the market and can provide expert advice to clients to help them avoid mistakes or issues.
Reduce your admin load
By outsourcing your viewing arrangements to an office broker, you can reduce the amount of admin that falls on you and your team. Moreover, by working with an office broker you can reduce the number of emails clogging your inbox and communications with various leads -- the broker is your sole point of contact which makes your admin load far easier.
Gain additional protection in case of disputes
We always cross our fingers that disputes and issues will not arise, but in the rare and unfortunate case that they do, an office broker can help protect the client. They deal with these issues on your behalf, providing support and streamlining the process.
It costs nothing
Finally, using a broker to find your new office space is completely free, so why wouldn't you? Getting personalised recommendations, exclusive deals, and cost-saving negotiators can make your office search far easier and cheaper. It's a no-brainer.
Find your perfect new office today
If you're looking for a new flexible office space in the United Kingdom or Ireland, Future Squared can help. Our team of expert office brokers offer a comprehensive service to help your company find the perfect office for the best price. With a wide range of offices available in amazing locations such as London, Manchester, Birmingham, and Leeds, there's something for everyone.
Specialising in flexible office spaces including serviced offices, managed offices, and coworking office spaces, Future Squared has helped companies of all sizes find new homes across the UK and Ireland. To get started on your office hunt, check out our office finder tool or get in touch today to discuss your requirements. Or, read our testimonials to learn more about how the Future Squared team has helped match businesses with their new homes.