REMI Comments on 5 Tips for Entrepreneurs’ Real Estate

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The Real Estate Marketing Insider gives its opinions on business writer Barbara Corcoran’s 5 tips for entrepreneurs who are looking into buying real estate.

The Real Estate Marketing Insider announced that it agrees with an opinion published by writer and business owner Barbara Corcoran offering advice to businesspeople looking to invest in new real estate for their small business. REMI added that real estate agents should keep these in mind when marketing property and storefronts, and offered some tips to agents for helping their clients find business spaces that set them up for success.

For realtors who works with small businessmen and businesswomen, one of the best advertisements is for clients’ businesses to be successful in their new spaces. It turns out there are some real ways that real estate can affect a small business: everything from location to lease length to even the number of windows can have a real impact on customer traffic. Barbara Corcoran announced what she sees as five things for entrepreneurs to keep in mind as they hunt for real estate.

First and foremost, Corcoran advises entrepreneurs to set up shop on the “right side of the street.” She says that most main streets have a busy side, where most pedestrians walk, and a less populated side; business owners looking at new storefronts should always rent space on the side with the most foot traffic. Corcoran also advised businesspeople to get longer leases to lock in overhead costs, and spring for twice the space that they estimate they’ll need. Count the windows while you’re at it, says Corcoran; more sunlight will make for more productive employees and happier customers. Finally, Corcoran advised that store or restaurant owners should buy their space as soon as possible to avoid rent hikes.

Real estate agents who work with small business owners can keep these tips in mind to help their clients choose the best spaces for them. As the economy heals, new startups will be born and need space to do business. These tips could help realtors attract this new demographic; the better small business clients do in their new locations, the more new startups will come to that realtor hoping to find their perfect location. REMI suggests that realtors take these tips to heart, and help their small business clients find spaces that will set them up for success. Here are some things realtors can do to help their small business clients succeed:

  •     Realtors should help their clients to find properties in locations that have steady foot traffic, or are on what Corcoran calls “the right side of the street.”
  •     Clients and realtors alike should visit visit the property; even the best real estate websites won’t tell clients how much foot traffic a space gets each day.
  •     Ask the client for a concrete estimate of their square footage needs. When researching possible leads, only present properties that exceed that number by at least ten percent, preferably more.
  •     Work to negotiate the longest lease for clients, and try to get an option to buy; setting up the space for a long-standing member of a business community is a surefire way to generate buzz around a business-realty agency.

The Real Estate Marketing Insider offered its comments on tips from business writer Barbara Corcoran for business owners looking for new spaces. REMI said that agents could benefit from getting their clients spaces that fulfill these suggestions.

About the Real Estate Marketing Insider:
REMI helps real estate agents grow their business with insider tips and analysis, and provides them with breaking industry news. The online newsletter is based in La Jolla, CA.

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