What Benefit Does Coworking Offer CRE Brokers?
Coworking spaces are an incredibly attractive option for businesses in early stages and startups. The community vibe, the flexibility and the perks that shared workspaces offer can help alleviate the pressure owners feel and allow them to place more focus on scaling their business and not running an office.
If you are a broker looking to tap into the coworking/flex space market, visiting and working out of several different operators facilities will provide you insight into the community and how best you might bring value to their members.
How CRE Brokers Can Benefit from Coworking
By investing time in building relationships with these members and operators of the coworking/flex business, you will likely increase your chances of working with a coworking tenant when they are ready to sign their first lease. Down the line, if you continue to foster the relationship with the coworking operator you may be able to create a preferred vendor relationship and be provided referrals from the operator.
Once you have established a presence in a coworking space, you can begin to cultivate relationships. Through collaborating and being available to other members, you will be sure to run into potential future clients that one day may possibly need your assistance or have a friend, or associate that may need a brokers assistance.
When you refer a client to a coworking space who is not ready to sign a long-term lease, you establish instant credibility as a broker because you are providing them flexible options that may focus on their current needs, and not just your brokerage fee, if their current situation is more suited for a shorter term commitment as opposed to a more traditional three to five year lease structure.
Additionally, coworking facilities can be leveraged by commercial brokers who may be trying to expand one of their clients in a nearby office building, but the space isn’t available for an extended period of time but the client needs space immediately. Utilizing a flex space might allow the client to grow and expand without the hassles and expenses of relocation the entire office.
Most coworking spaces offer brokers commission for referring clients to their space. But, once a client becomes a member it’s entirely the broker’s responsibility to stay in touch with your client to stay abreast of his potential need to expand, not only within the coworking/flex space but also if his/her needs outgrow the space. Hopefully, when the client is ready to transition out of the coworking space to a more traditional lease structure, you will be top of mind and have the first opportunity to win the assignment.
Sharedspace, is a regional coworking business focused on creating modern, professional, and energetic work environments to stimulate the creativity and productivity of entrepreneurial businesses and their teams! Please don’t hesitate to reach out if your business is looking for creative opportunities reinvigorate your workforce and brand with a modern coworking environment like SharedSpace. Contact us today to schedule a tour of our facilities or for a consultation on your business.