RCR's FAQ

1. What is a Tenant Representative?
   
   Someone who is a licensed real estate professional and who only represents tenants and buyers of real estate. The basis for this representation is that the tenant/client has no conflicts of interest (.i.e. building listings and landlord contracts). Retaining a Tenant Representative is like adding a partner devoted to your company’s success and its efficient error-free expansion. They are on your side and represent YOUR interests only.
   
   
2. What do Tenant Reps Do?
   
   

   •	Work with you to target the best location, amenities, size and configuration that will meet your company’s needs, both now and in the future.
   •	Search beyond the normal databases to search for the best possible options to ensure the maximum number of location choices. Frequently the best space is not currently in the market and it is our business to know of vacancy before it is available.
   •	Perform site inspections, market rate comparisons and term comparisons to assure that you receive the best price and terms possible.
   •	Prepare and issue Request for Proposals (RFPs) or issue Letters of Intent (LOIs) to all applicable Landlords once you have decided on one or more facilities. The responses are then analyzed and in-depth lease negotiations are preformed.
   •	Research the market when your lease comes up for renewal or you need to expand to determine a fair renewal rate and terms, including new Landlord upgrades and new Lease Clause protections, if necessary.

   
   
3. Can I do it myself?
   
   You could, but experience indicates it takes an average of six to nine months to handle a commercial real estate transaction, and it takes years of experience to gain the expertise necessary to effectively negotiate complex real estate transactions. Generally the savings we net for you are around 20% or 30% from what you might have obtained on your own. It is well worth the time and effort we put into the transaction and the best part is it doesn’t cost you a thing.
   
   
4. Do Tenant Reps work with other real estate companies, too?
   
   Tenant Reps gladly work with all other real estate companies and property owners, many of whom are known on a first name basis. While it is most common for the Tenant Rep to contact these companies on your behalf, you may call these companies directly when circumstances dictate. Just be sure to mention that you are being represented by a Tenant Rep who will be negotiating the transaction on your behalf.
   
   
5. What if I see a good location myself?
   
   Wonderful! Simply contact your Tenant Rep who will check it out and negotiate the best terms possible for you. It is likely that the Tenant Rep is already familiar with the building and too many inquiries will only encourage Landlords to increase their rates.
   
   
6. What will it cost?
   
   Nothing! Normal site selection or acquisition tasks require no fees from you since Tenant Reps are compensated through a share of the leasing or brokerage fee that the Landlord pays. In fact, since Tenant Reps commonly obtain better terms for their clients than the clients would have obtained themselves, you will spend less time and money by working through one. Other services such as market research, consulting, lease analysis and lease termination negotiations are available and billed on an hourly or fixed-rate basis.
   
   
7. Is it fair and legal for you to represent us and be paid by the Landlord?
   
   Yes. Real Estate Commission regulations are clear that it is both legal and ethical to represent the Tenant and be paid by the Landlord.
   
   
8. Is an exclusive agreement necessary, and in my best interest?
   
   Hard working Tenant Reps contact all other brokers and owners on your behalf. If other brokers do the same thing, confusion results. An experienced Tenant Rep will not invest the time and resources necessary to do a superior job without your exclusive commitment. The North Carolina Real Estate Commission requires that an exclusive agreement be executed prior to a licensed broker writing an agreement for purchase.