Did you know that real estate agents earn a substantial commission when their clients agree to buy or lease a property? While you may have been aware of this fact, you may not have known that their cut is a percentage of the actual cost. In other words, the more expensive the property, the more money they make.
You might be wondering why you should bother with a real estate agent at all. After all, why not just research properties yourself and save that expense? The answer is simple: a commercial real estate agent, especially one who specializes in healthcare properties, can save you hundreds of thousands of dollars over the life of a lease. Just imagine all the possibilities that open up when you have that kind of money at your disposal.
So, what are the benefits of working with a healthcare real estate broker, and how do you choose the best one to represent you? Here are a few things to consider:
First and foremost, a healthcare real estate broker has specialized knowledge and experience in the healthcare industry. They understand the unique needs and requirements of healthcare providers and can help you find a property that meets those needs.
Secondly, a healthcare real estate broker has access to a wide range of properties that may not be available to the general public. They have connections and relationships with property owners and landlords that can give you an edge in finding the perfect space for your practice.
Finally, a healthcare real estate broker can negotiate on your behalf to get you the best possible lease terms. They know the ins and outs of lease agreements and can help you avoid costly mistakes that could end up costing you a fortune.
Why You Should Go With a Professional
The main reason you will want a commercial real estate agent that specializes in healthcare is because of their experience. You don’t want to cut corners and take short cuts with your practice. Finding someone who is knowledgeable and that you can trust is the key. Hiring a professional that comes at no cost to you will save you 10-20 hours of research, touring, and negotiating. Commercial real estate agents can help position you in negotiations which allows you to be strategic while staying within your budget.
The Same Commission is Paid Whether You Have Representation or Not
A landlord will get paid the same commission whether you choose to hire someone to represent you or not. The exception here is that if you choose not to hire representation, the entire check goes to the landlord’s agent. If you hire help, your agent would be getting half to look out for your best interests too.
Why That Professional Should be Healthcare Specific
You might know a friend or family member who dabbles in real estate but without them being an expert, you could be making a very costly mistake. Medical and dental practices are a great business model compared to traditional commercial real estate. Not only are these practices reliable but they also bring desirable clientele to neighboring businesses. Patients are willing to spend to take care of themselves. Their attention is valuable to other businesses and the owner of the property.
Dental and Medical-specific Expertise
Price isn’t always everything. In fact, the layout of the space is much more critical, especially for a medical or dental practice. For example, how much space does a five chair operatory need? How should that space be divided? What are the minimum requirements for an individual operatory and waiting area? If your real estate agent doesn’t know the answers to those questions, you could be wasting valuable time and money looking at spaces that simply won’t be a good fit. Even worse, you could commit to a space only to find out later on that it won’t work for the needs of your practice. Commercial real estate agents who specialize in healthcare can quickly eliminate properties that do not meet the right criteria.
Who We Are
Are you interested in speaking to a healthcare specific real estate agent? HFS is a leader in healthcare real estate brokerage and design. We take great pride in helping dentists, physicians, physical therapists, and veterinarians improve the success of their practice. Whether you are opening a new office or expanding your existing healthcare facility, HFS has the expertise you need to navigate the cumbersome process with a single source of accountability.
Our professional services include real estate brokerage, feasibility studies, space planning/test fits, architectural and interior design, design-build, and advisory services. We represent the interest of every type of healthcare specialty and truly understand the nuances and unique design needs for your practice. Our experts handle all the details and logistics using our proven process, allowing you the time you need to focus on what is most important, your practice!