Forgoing hiring a broker: Even with negotiation experience, or even an internal real estate team, CRE deals can be complicated and confusing. Brokers have the market knowledge, relationships and proven negotiating skills to find properties to meet a tenant’s specifications and negotiate a favorable lease on their behalf. Many tenants worry about the cost of commissions, but few understand this cost is generally paid for and levied by the landlord. Misunderstanding lease terms: Tenants that choose to negotiate CRE deals by themselves can struggle with understanding all the lease terms. An experienced broker, combined with the legal guidance of an attorney, can help tenants understand the often-complicated legal jargon and answer any questions associated with common CRE leases. Signing a lease that favors the landlord more than the tenant can come with costly, or disastrous, consequences. Focusing only on the price: Real estate is one of the largest expenses a business will face, so rent may be a major factor in choosing a CRE space. And while finding a property that suits the budget is important, it’s equally important to consider other factors, such as culture, growth, location, parking, transportation, availability of amenities, versatility of the space, infrastructure, proximity to competition, etc. Tenants that choose not to work with qualified brokers often pick unfavorable CRE properties based on the monthly rent alone. Overlooking future needs: Too many business owners focus their CRE needs on current needs without considering future growth, flexibility or financial decline. For example, business owners anticipating rapid growth can benefit from a right of first refusal clause, ramp-ins and other creative growth functions. These clauses ensure the tenant can grow or claim any additional space in the property as, and if, it becomes available. Conversely, sublet, assignment or early termination clauses provide the option to leave a space before the lease term is completed and also provide proper assumption if there are potential acquisitions in a company’s future. Procrastinating: Tenants are prone to underestimate how long it can take to find space. Searching for properties, securing financing, negotiating lease terms, designing and conducting tenant improvements are time consuming. Tenants should give themselves at least 6–12 months to find and move into a new space. Procrastinating can leave tenants stuck in their current building for a time or in another, less-than-ideal space.