OfficeSpace.com Launches New Service in Portland, Oregon

Also offers landlords and brokers free listing capabilities, real-time tour booking and social media integration

SEATTLE, Washington – January 24, 2012 – OfficeSpace.com today unveiled a new service designed to arm tenants with the information needed to help them make better real estate decisions for their businesses. Launching first in the Portland, Oregon metro area, the new site provides businesses with a free and powerful search functionality to help them find available office space that meets their search criteria. OfficeSpace.com also helps tenants-to-be, obtain in-depth information about properties, book tours and ultimately provides the ability to close their lease transaction online.

In addition to providing time-saving tools and resources to tenants, OfficeSpace.com also offers landlords and brokers the ability to post their listings for free on the site, and the ability to set their availability for tours using a real-time calendar where they can even provide tours to multiple tenants simultaneously.  OfficeSpace.com will be providing a valuable service, connecting tenants to landlords and brokers. 

OfficeSpace.com also makes Social media integration with Facebook, LinkedIn and Google+ easy for both landlords and tenants. For example, tenants can read reviews of other tenants in the building and share comments with each other on the spaces that they have toured in order to help keep organized. Landlords can leverage social media integration by sending out new properties to their networks from OfficeSpace.com with one click of their mouse.

“We understand that entrepreneurs and business owners are busy people and they want to start their research online, in their limited spare time, before committing to taking the next step, ” said Susie Algard, OfficeSpace.com’s CEO. “With OfficeSpace.com, tenants can access more information instantly and for free.”

While all size businesses can benefit from leveraging OfficeSpace.com, tenants of smaller spaces can benefit disproportionately as most commercial real estate brokers avoid working with these folks altogether. OfficeSpace.com is focused on disrupting the current business model in commercial real estate so that tenants of all sizes do not need to depend on brokers for all of their office space needs. The new service launches today in the Portland Oregon metro area and plans on serving several additional cities within the coming year.

About OfficeSpace.com

Experienced Internet entrepreneurs Susie Algard and Alex Algard purchased OfficeSpace.com in late 2010.  Frustrated by some of the trials and tribulations of their own experiences trying to find office space for companies that they were involved in, they decided that it was time to make a change in the commercial real estate space. Susie, CEO of OfficeSpace.com, was previously a senior executive and founding member at WhitePages.com, a top 30 Internet property.  Alex is the founder and chairman of CarDomain Network as well as founder and CEO of WhitePages.com.

OfficeSpace.com also operates one of the leading commercial real estate marketing and analytics services in Seattle, Spokane, Denver, Minneapolis, Cincinnati and Columbus.

Check out the site at www.officespace.com.

Half of Our Tenants Think They Have to Pay a Broker Hourly, Like an Attorney

Tenants use OfficeSpace.com to do their own space searches and learn about the commercial real estate market.  These are typically business owners and entrepreneurs.  We talk to them regularly and one thing that always amazes us is that about half of our tenants looking for space believe that their broker will charge them an hourly rate, like an attorney.

When we hear this, we explain to them that actually, there’s no out of pocket expenses and that the landlords pay out a commission once a lease has been signed.  However, since we know what the downfalls are with respect to skewed incentives because the landlord is paying commissions to your broker, the question arises, why don’t we make a change and properly align clients interests with broker incentives?

What would happen if this were the norm?  Would deals get done faster because the tire kickers would go away and we’d work with only the serious and motivated?  Would tenants pay less in rent, receive better terms or get a bigger TI budget because the landlords wouldn’t have to pay the tenant brokers commission?

Would this reduce a lot of frustration that brokers have when a tenant just goes silent.  We’ve experienced or heard of the horror stories of the broker who is left at the alter.  In the real estate world, this means that the broker diligently worked on a deal for the tenant:  the tours are done, negotiations concluded and a deal is reached.  And just when the lease is supposed to be signed, the tenant disappears, just goes silent.  At least in this scenario, the broker would get compensated for their work which seems fair.

What do you think?  Why isn’t the industry moving this way, especially since some tenants already think this is the way the industry works.

Is Re-founder Even a Word?

I’m not a stickler for grammar, but I want to know if this at least makes sense.  A quick search for re-founder brought me to dictionary.com’s definition – “one who refounds” but “refound” has no definition.  Okay, not so helpful but then I stumbled upon linkedin and bingo, someone who has the title refounder, and that’s what I’m talking about.  I may find myself explaining this to people more often than I want, but basically what this means for me is that even though OfficeSpace.com is a 15 year old company, we’re back in start-up mode.  That’s really the most concise way I can think to explain what we’re doing with this “new” company.

We’re taking a good look at our business and our opportunities for growth.  Evaluating the office space market, there are great resources for brokers, landlords and property managers but limited options if you’re an actual tenant looking for space, even fewer options if you are a tenant looking for smaller spaces.   Our goal is to change that and create an effective marketplace for both tenants and landlords/brokers.  We’ve been busy at work over the past year, our small team of 7.  Stay tuned, we’ve got some exciting new stuff that should launch in the early part of 2012.

Susie Algard, re-founder.