1. Beginning the negotiation of a new lease or a lease renewal too late.
2. Lacking clearly defined business or real estate objectives.
3. Focusing exclusively on financial costs when determining the most appropriate real estate solution.
4. Making inaccurate estimations of the company’s space requirements and project timelines.
5. Focusing solely on rent and other real estate related costs when preparing a budget or comparing opportunities.
6. Hiring a broker without the right specialization, or working with multiple brokers.
7. Acting too slowly once a decision has been made, and consequently losing leverage or missing out on opportunities.
8. Failing to negotiate flexible terms necessary for future change.
9. Failure to utilize your broker as a single point of contact for out of market real estate needs and as a resource for any 3rd party services required.
10. Failing to allow for enough time at the end of the lease to fulfill the surrender obligations.
“I have had the pleasure of working with Terry Bell and Joe Elliott of Colliers International in the relocation and merge of two of our offices. Terry and Joe were always very professional, they provided excellent real estate market and cost analysis presentations that were highly instrumental in making our transition and merge a reality. Our real estate requirements were extremely complex, due to the merge of two completely different office types which required delicate diplomacy; Terry and Joe’s patience, flexibility, and professionalism were 2nd to none, they handled all sensitive matters in a very diplomatic way. They provided referrals and assisted in coordinating the build out of our new facility. I would definitely call upon Terry and Joe’s real estate services and expertise in the future should I have the need.”
Debbie A. Abed|General Manager|Kyocera Industrial Ceramics Corporation