Primarily I work as a Commercial Agent dealing with sales, lettings and acquisitions for a variety of retained local and national clients. The local market is showing signs of recovery, however I would say we are still very much “not out of the woods" yet.
As commercial property agents we are always being asked to provide as much information and analysis of properties for clients as we can, and sometimes that can be expected the same day or even the same hour! A question I am often asked by inexperienced clients, who are wary of hidden costs, is "what have I not budgeted for?".
The Lease Analysis feature in CoStar Suite gives me the ability to provide comparative analysis on certain properties and locations, and present these to clients quickly and in a professional style, which reflects well on our business.
In one such case recently I provided a client with a clear and concise summary of the likely expenditure over the duration of the lease for a particular property. Whilst there are always "what ifs" when dealing with property, the software allowed me to highlight where we could possibly save the client money and where the likely hidden costs could arise before, during, and at the termination of the lease.
This in turn allowed the client to budget more efficiently and decide whether the property was within their means. Ultimately, using Lease Analysis helped us to win that instruction.