The team at OfficeSpace.com wishes you a Happy Holiday! 2016 flew by, and we want to thank you for helping us have our best year yet! Millions of tenants used OfficeSpace.com, hundreds of thousands of broker-to-tenant connections were made, and tens of thousands of brokers got exposure nationwide.
We put together a video to recap the amazing year we had at OfficeSpace.com:
OfficeSpace.com A Year in Review (2016)
Partnership between fastest growing CRE listing service and leading commercial brokerage firm marks paradigm shift in CRE data sharing
SEATTLE, WA – November 17th, 2016 – OfficeSpace.com, the fastest growing commercial real estate listing service that connects tenants and brokers, today announced that it has launched a syndication deal with a leading global commercial real estate services firm, Colliers International Group Inc. (NASDAQ:CIGI, TSX:CIG). Marking the first time a top global commercial real estate brokerage firm has syndicated its listing data to a commercial real estate listing service, this partnership represents a paradigm shift in CRE data sharing.
Beneficial for both Colliers brokers and companies searching for commercial space via OfficeSpace.com, the partnership will bring:
- Better data transparency for entrepreneurs and companies: Companies can now find all of Colliers’ national inventory when they search on OfficeSpace.com. Over 9,000 Colliers listings spanning across 43 states are now freely available to search, allowing decision makers to connect with Colliers brokers in real-time on OfficeSpace.com.
- Increased cost savings for Colliers brokers: OfficeSpace.com has developed technology that allows all of Colliers’ listings to be syndicated seamlessly by default on the website. Going forward, Colliers brokers will save time updating, as they will only have to update their listings on one place.
- Boosted visibility for Colliers listings: Colliers will be the first global commercial brokerage firm to actively work toward having their data be more accessible to tenants and landlords by syndicating on OfficeSpace.com. While other commercial listing services are primarily used for broker-to-broker marketing, OfficeSpace.com connects tenants to brokers directly – attracting over 200,000 unique users every month. OfficeSpace.com also allows all users unrestricted access to its database.
“Today not only marks a huge milestone for OfficeSpace.com, but also for the industry,” says Susie Algard, CEO of OfficeSpace.com. “It is our hope that this partnership will set a precedent for how top brokerage firms collaborate with CRE technology companies in the future.”
With the addition of Colliers’ national listing data, visitors to Officespace.com can now access 1.3 million buildings nationwide, across all 50 states.
OfficeSpace.com is the fastest growing online commercial real estate marketplace that connects tenants and brokers. With over 1.3 million properties nationwide, OfficeSpace.com provides lease and sale information for all commercial space types – including office, retail, industrial, flex, and land listings. OfficeSpace.com’s online property database is available to search for free and without any restrictions. Over 200,000 unique users generate millions of building views.
It’s been a great first quarter here at OfficeSpace.com! With over 200,000 unique tenants searching every month, we’re on pace to make hundreds of thousands of broker-to-tenant connections this year.
As the fastest growing CRE website, OfficeSpace.com is helping thousands of brokers re-imagine their prospecting strategies and connect directly with tenants. Our latest video recaps the amazing growth that we’re seeing and summarizes our service and users.
Click here to view it on Youtube.
Contemporary office culture has come a long way since people first started talking about green solutions. Here are a few things to consider when you’re taking steps toward creating more sustainable office practices.
Don’t Forget Your Tech
In today’s office world, suggestions like “recycle your paper” are swiftly becoming much less relevant than energy saving tips involving technology. Although, of course, it’s still important to recycle waste paper, or choose recycled paper in the first place, in increasingly paperless offices it pays to consider the energy use of your electronics. If every person in your office is using a computer, imagine the impact of a company-wide policy governing their energy usage.
Program all computers to enter sleep mode after ten minutes of inactivity, and shut down your computer completely at the end of each day rather than allowing it to enter sleep mode. And if you’re still using screen savers, skip it—screen savers are a vestige of the early days of computers, when the image of your desktop would eventually be burned into your screen if left on too long. A static image—or better yet, black—requires much less energy to run than a moving screen saver. Or better yet, if you’re walking away for a few minutes, just turn your monitor off completely. It won’t affect your computer’s memory, performance, or state in any way, but saves energy just like turning off a light switch.
Choose Energy-Saving Appliances
There are many upgrades you can make in your appliances that will go a long way toward saving power, many of which are already becoming the new standard. Just as energy efficient light bulbs are the new norm, LCD monitors have been swiftly replacing the CRT monitors of the past, and if you haven’t made the change yet you should as soon as possible—not only are they three times as efficient, but the upgrade is inevitable. It’s also worth it in both the long and short run to invest in efficient hardware—when buying your computer processors and accessories, look at Energy Star 4.0 ratings or high EPEAT marks.
There are many things offices don’t even think about that can be made more efficient with upgrades—for example, using virtualization technology to consolidate your servers, reducing your need for multiple physical servers (which are huge energy suckers).
Consider Green or Alternative Buildings
The amount of resources used for brick-and-mortar buildings and traditional methods of construction are often overlooked. The Construction Materials Recycling Association estimates that the construction and demolition industries account for 250 million tons of waste each year (which doesn’t include roads or bridges), and these C&D materials make up approximately 35 percent of all waste generated annually. Luckily, there are greener modes of construction for office space. LEED-certified buildings are increasingly becoming a popular trend in CRE. Through LEED, developers and owners are provided with measurable solutions for creating more sustainable buildings. There are also alternative options, especially if you’re feeling a bit more creative, such as such as PVC fabric buildings, which require a fraction of the construction materials or transport, allow greater amounts of natural light to enter, and are made of entirely recyclable materials.
Telecommuting is more feasible in the workplace now than ever before. With dozens of ways of instantly communicating through video, audio, and computer screen shares, the necessity of in-person meetings has been largely reduced. If your employees or partners can work from home, they save a bundle in terms of the energy that would otherwise be spent on commuting. If you have meetings with clients or partners that would usually require someone driving for miles, consider having digital meetings whenever possible. You might want to allow employees to work from home a day or two out of the week. You’ll save money on your office resources while also saving some gas. 44 million Americans currently telecommute full-time, and that number is growing daily because it offers so many practical and environmental advantages.
In this constantly evolving modern workplace, the ways we think about going green need to keep evolving as well. What are some other things you implement to make your office greener? Let us know in the comments below!
About the author:
This post was authored by Peter Kim, a freelance writer with a passion for the environment and green business. He has worked for a home improvement company and writes about the construction industry, maintenance advice and tips on how to live a greener life.
We’re interested in hearing from you, brokers! As we continue to grow, it’s important to us that any changes that we implement – however big or small – are always for the betterment of our users’ experience. That said, your feedback is critical every step of the way.
We invite you to participate in this short survey; it will take no more than 5 minutes of your time, we promise! Tell us how we’re doing, where we can improve, and most importantly, what we can provide to help you:
So don’t be shy, we want to hear from you! You can also reach us at (800) 560-3544 or email@example.com.
It’s a common complaint among entrepreneurs looking for office space. Why don’t brokers call them back? The truth is that the majority of brokers do return inquiries.
At OfficeSpace.com, we’ve found that how you phrase your initial request about space has a huge impact on whether or not you get a response. After analyzing 10,000 email requests in the last six months, here’s what we’ve determined to be the top three types of requests that do not get responded to quickly.
The wishy-washy entrepreneur
When inquiring on a space, you have a wide range of what will work for you. You may have a huge range of space that you might need, and you don’t say when you need the space. You might need it right away or you might need it in six months. It can be fully built-out space or a wide-open bullpen.
While you might get lucky with a broker who is willing to spend the time extra time talking to you and helping you figure out what you truly need, most brokers won’t know how to prioritize their response for you as they fear you are not serious or that you will require a lot of work.
The short-term entrepreneur
You request a month-to-month lease or something short term (less than one year). If you’re requesting a short-lease term you might as well be saying please do not call me back as far as a broker is concerned. This is fine to request if you are looking at a sublease or executive suite, but it’s not realistic for most landlords, so brokers will not want to waste their time with you.
The secretive entrepreneur
You don’t include enough personal information like your full name, company and any further details or descriptions of what the business use is for the space you’re inquiring about. The only thing you tell the broker is that details on the company are “under wraps.”
Brokers tend to de-prioritize these kinds of inquiries, because it gives them the impression that your business could be dangerous or illegal, which is obviously something the landlord would not allow in their building.
While it’s normal for entrepreneurs to want to keep details of their companies private for competitive reasons, there needs to be a balance with providing the necessary details for landlords. They will want to see financials and even a business plan if you are a startup with no track record.
Based on our analysis, providing your full name, company name and specific details are ideal. For example, you might say that you are currently in a 5,000 square-foot space and are looking for bigger space, need a kitchen, two conference rooms and access to storage.
You can also count on a faster call back by including details that show that you’re an established company or what your timing is. You don’t need to divulge all your information, just enough to make the broker know that you are serious. It’s not imperative that you sound like you know everything, just that you are serious.
So, the next time you spend the time to make the calls or emails to a broker, remember to give enough details and be thoughtful to get the fastest response back.
To get more answers to common tenant-related questions, visit our FAQ page.
It has been 18 months since we launched our pilot program for Tenant Rep Brokers and I’m thrilled to say that it has been an overwhelming success! In fact, since we launched, others have tried to copy our model which is further validation of the market opportunity. However, their captive audience isn’t necessarily tenants that are searching for space and is reflected in the quality of those leads.
2012 and 2013 were record years for us over multiple metrics and 2014 seems to be on the same overall trajectory, if not better:OfficeSpace.com continues to be the premier destination for tenants that are actively looking for space.
Tenant Connect is our broker marketing program specifically designed for tenant representation brokers from the ground up. Our platform allows prospective tenants to reach out to our Tenant Connect Brokers directly as they are searching for available spaces while on OfficeSpace.com. These inquiries or contacts can happen via email or phone and are tracked in our system and relayed directly to the broker. It is truly a platform that works for both the Tenant and the Tenant Reps. Best of all, as a tenant rep, you don’t have to do anything to source the clients, you just have to qualify and respond to the inquiries…something you all do currently.
- Approximately $500,000 in commission revenue generated for the broker
- Over 6,500 contacts directly delivered to the broker
- Over 115 closings with a large pipeline
- Our broker churn rate is flat at 0%, everyone is seeing the value
All our current tenant connect brokers are reaping the benefits of adopting early as they are all generating commissions and have secured their spot in their respective markets. All our pilot cities are currently full but we are always building out wait lists. Additionally, we make proactive changes to our tenant connect broker pools based on performance and user reviews, which helps us improve our tenant experience.
What some of our Tenant Connect Brokers have to say:
Overall – the use of OfficeSpace.com has enhanced my ability as a broker tenfold – I truly cannot imagine getting going without a tool like this. My interest in inbound leads and how to qualify, nurture and then cultivate them has proven a great asset to Colliers –and an invaluable learning experience with your tool. I look forward to many more years of successful partnership – and would encourage any and all feedback you have for me in the future. — Sam Devorris (Colliers, Denver)
(in 4 months) Have received over $30,000 in commissions my efforts have generated from the leads so obviously it has worked for me! — Scott Driver (Scott Driver & Company, Seattle)
The main reason for enjoying the TC Broker Program over the last two years is the ease of quality inbound leads and income, not just the immediate 5 figure deals but the future 5/6 figure deals when leases roll/renew/relocate. I have never done a six-figure lease with Office Space yet, but in 2013 and 2014 so many deals were in the five-figure range. I also have a 62 month deal in the highest priced building in all of San Diego County today from an Office Space lead – anyone can call me about it, and I will note how easy it was to get.
In our competitive commercial real estate environment to have so many office leads come in that are coming from areas that you would otherwise have to be LinkedIn, be introduced, or network to meet the President or CEO, OfficeSpace.com is able to cut right to the front of the line.
I recommend OfficeSpace.com to all tenant reps, the only problem is not all tenant reps can become a member, so I tell them in minutes to sign up or get back to LinkedIn, be introduced, or network. — Michael Mazzotta (XREIT, San Diego)
We’ve learned over the past few years how to attract and keep prospective users on the site and we will continue to listen, learn, and refine our services. The team at OfficeSpace.com is aggressively expanding our listing base throughout the nation and this will allow us to bring this platform to many more markets in the near future.
If you are interested in being a leader with entrepreneurial foresight, contact us for more information and reserve your spot as we offer this platform in your market:
After all, where else can you tap into a steady profitable stream of prospective tenants actively looking for your help?
Where are you looking to find tenants?
What can I do to enhance my listings on OfficeSpace.com? Am I utilizing all of the services offered with my membership? How do I edit my listings and follow up on tenant leads? If you’ve ever asked yourself any of these questions or simply just want to learn how Officespace.com can help you as a real estate professional, we encourage you to attend our Lunch & Learn! We hold one monthly in the hope of providing professionals with additional education on our Broker tools and services. The hour long session covers everything from website navigation to services and tools that we’ve put in place to help you gain better access to active tenants and data. While we’re always available to provide support by phone or online, we understand the importance of face-to-face demonstrations – sometimes you just have to see it to understand it! And the best part? Lunch is on us!
For more information on our monthly Lunch & Learn, see below:
When: The last Wednesday of every month (mark your calendars for May 28th to attend the next one!)
Time: 12 PM-1:30 PM
Where: 1301 5th Ave, Suite 1717
RSVP Required? Yes. To RSVP, please send an email to firstname.lastname@example.org confirming that you’d like to attend anytime before the day of the session.
If you have any specific topics that you’d like us to cover in our next session, send them our way! We’ll make sure to add it to our agenda if it isn’t already included.
This week we have the pleasure of sharing another Q&A for our Broker Banter series, featuring Denver Broker Jason Bollhoefner. Similar to our previous conversation with Portland broker Kristi Ricker, we connected with Jason to get more insight into some key things that tenants should know before touring potential sites, selecting a space, and negotiating a lease.
OfficeSpace: What are some things that tenants typically overlook when looking for new space that they should be paying attention to?
Jason: Commercial leasing is a complex process, fraught with significant potential risks and liabilities, and should only be handled by a representative that has both the necessary experience and your best interests in place. I have found tenants tend to overlook the importance of their creditworthiness and the time required to bring a commercial lease transaction to close. Leasing commercial space is very comparable to getting a loan from a bank. Tenants should be prepared to share financial statements and to appropriately collateralize the lease transaction.
Commercial real estate transactions, even for a seemingly “simple” deal, may take a considerable amount of time to successfully complete. Having adequate time to identify, tour, design, price, negotiate terms on, construct or improve, and move into suitable commercial space helps to shift negotiating leverage to the tenant’s benefit. Start the process 4-8 months before you need to occupy your new space.
OfficeSpace: What are the best practices to selecting the best space?
Jason: The best space is the space which meets unique criteria that vary by industry, property type, the nature of the user’s business and their business plan, and location. I ensure a successful process by taking the time to understand the intricacies of my clients and their businesses up-front so the real estate supports these needs and requirements.
OfficeSpace: What are the best practices in negotiating my lease?
Jason: The best practices in negotiating a lease are summarized into 4 critical path items as follows:
- Start your needs analysis and discussion well before the need is estimated to commence.
- Engage an expert commercial real estate broker with proven experience and leverage their knowledge; we are here to help you starting with the needs analysis and continuing from occupancy throughout your lease term.
- Always have a solid back-up option at hand, especially in an improving real estate market. Being prepared to walk away is a very powerful aspect of successful negotiation.
- Engage a real estate attorney to provide counsel and revise the lease document.
OfficeSpace: What are the hidden costs in a lease?
Jason: Your real estate broker should be well versed and provide assistance in mitigating latent/hidden costs within the lease agreement. The primary area of hidden costs arise from Operating Expenses or Common Area Maintenance (CAM) charges and maintenance obligations. Other potential pitfalls include Tenant Restoration requirements, Tenant Alteration processes, landlord administrative markups, and property management fees. My experience negotiating thousands of lease agreements is invaluable to my clients in these areas.
OfficeSpace: What’s the best way to compare offers?
Jason: The best way to compare offers is on a Net Present Value (NPV) basis and $/RSF basis with a matrix for a side by side comparison. This analysis should also take into account intangibles such as building image, proximity to employees and clients, ease of ingress/egress, and the true cost of occupancy including any tenant contributions to build-out and relocation costs.
Jason Bollhoefner joined Corum Real Estate Group as a Leasing Agent in January 2001 and was promoted to Senior Leasing Agent in 2007 and to his current position as Assistant Vice President in 2008.
Find office, retail or industrial space by visiting: http://www.officespace.com/Denver-CO