At Living Room Realty, We Love Small Business.
Portland is thriving small business hub. Entrepreneurism is our brand. All kinds of local makers, dreamers, thinkers, designers, artists and creatives strive to do good, work hard, and find a better way forward for all of us.
In getting to know these individuals while serving their residential needs, we uncovered a gap in commercial realty services. Living Room Realty is the place where we don’t talk down to clients. Every transaction gets the same level of in-depth attention, regardless of scale. We are here to assist the important builders and creators of our neighborhood businesses, because at Living Room we believe everyone deserves Room to Live. For us that includes the opportunity to make a fair living with sufficient income to enjoy a life rich in experience.
Prepare to Make the Jump into Commercial Real Estate:
Commercial realtor Stacy Looney knows it takes preparation before clients are ready to start touring available spaces. Here’s what she recommends:
1. Know your budget
2. Prepare a business plan
3. Secure access to financing .
4. Understand the size, type, and configuration of space required by your business
5. Think about a preferred target area for your search.
Facing a Brisk Market:
The market is moving and commercial spaces are going fast. If you are looking for a space to move your business or start one, know that the space available today may not be available next week. That's why its necessary to have the items above ready so you can make a sound decision to move forward when you find the right space.
How Commercial Brokers Work:
Unlike residential agents, we do not have access to property or carry any keys. Commercial spaces are generally listed by brokerage houses and those team members have the keys to the properties they list. Because we must coordinate schedules with multiple parties for each showing, it’s important to allow more time for the opportunity to view a space. It can take several hours or may require 24 hours notice prior to getting access to a space still occupied by a tenant.
Commercial Broker commissions are generally paid by the Landlord leasing the property, not the tenant. When Landlords hire brokerage houses to list their property, the commission is determined at that time. Finding the right location and negotiating terms for a client takes several weeks to several months. A commercial broker does not receive any compensation for their time (ie. searches, calls, touring) until a lease is fully executed by a Tenant and Landlord.
If you need commercial space, give us a call. We're happy to answer questions and help you find a property where your business will thrive.
D Larson, editor
Stacy A. Looney
Principal Broker Licensed in Oregon
Commercial | Residential