Of course, I'm a little bit biased, but I strongly believe that the commercial broker is more important than ever. It's true that the field is leveling out more than ever before. Technology is making information that was once almost impossible to access widely accessible. A different culture is also increasing openness and access. While information and market access are both important parts of what brokers offer their clients, the brokerage community still has some tricks up their sleeves.
1) You're Busier Than Ever Before
You might have more access to commercial real estate information than you did 20 years ago, but you also have a lot more work to do. If you're struggling to keep up with everything you have on your desk, you don't have time to take on all of the tasks that a commercial broker can do for you. We'll take care of all of your needs, report back to you, save you time and still do a better job that you could do on your own.
2) More Options Means More Work
Instead of having only one or two spaces to choose from, you could end up having scores of them to consider. If you're looking at multiple markets, your universe of options could run into the hundreds. Even if you have time to look for a space, you probably don't have time to consider every option. Your commercial broker does, though.
3) You Can Only Find So Much
Furthermore, even with every tool out there, you'll only get a partial view of the market. Many good opportunities aren't widely marketed, so you'll need someone with insider's access to be able to see them. Sometimes, the best choice for your company might not be on the market at all. A good commercial broker knows ways to try to pry that opportunity open for you. Do you?
4) Is It REALLY A Good Deal?
Even if you can solve all of those problems and get access to a great space, find a tenant or buyer for a space that you're trying to vacate, or achieve some other real estate aim, are you really sure that the deal you're negotiating is a good one? Even if you have basic information on the state of the market like you can get from LoopNet, CoStar or REIS, the truth about the market is usually more hidden. Your commercial broker knows what is really going on, what's getting built, who's moving and the like. He or she knows where deals are actually happening and what concessions each side is actually willing to make. That knowledge could save you thousands or millions of dollars.
5) Commercial Properties Aren't Books... or Hotel Rooms... or Cars...
The reason that you periodically see articles predicting the death of the commercial broker is a greater trend towards disintermediation. Once, you'd go through a third party (or multiple third parties) to get what you wanted. For instance, a musician would sell music to a publisher who would sell a CD to a distributor who'd sell it to a store who'd sell it to you. Now, the musician posts it on his or her website and you download it. That's disintermediation, and it works great with many simple products.
However, commercial real estate is complicated and markets for it are inefficient. Your commercial broker can help smooth things out so that you can have a successful transaction.
In other words, don't worry. We'll be here to help you for a long time!
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