It looks like we’ve finally found our space. No signed lease yet, but we’re just about there.

This is our third home – we’ve grown again, and I’m pretty sure now that we’re losing money every month we stay in our current space. There are some new treatments we’d like to offer, and we need more staff. All nice problems to have – we just need more space to start solving them.

While everyone’s space needs are unique, we’ve learned a few lessons over time that are helpful for anyone on the prowl for new space, regardless of profession:

Look at Everything

Really. Even the ugly stuff in the wrong place. Look at everything you can get your hands on.

Here’s why:

• You’ll be surprised. It’s the book-by-the-cover syndrome. Sometimes places are bigger, better, cheaper, cooler, readier and nicer than you’d think. Don’t miss out.
• One space leads to another. Looking at lots of places lets you meet lots of people – owners, agents, tenants, customers who can tell you about other possibilities you might never found otherwise.
• You’ll get an education. Even if you know the place you’re going to see to is not going to work for you, the time spent looking is getting you a homespun MBA in the current office space market – what space is worth, how landlords are handling leasehold improvements, traffic and construction issues, etc.
• You’ll have more options. And more options=better choices and a stronger negotiating position.

Don’t Use An Agent

Or, more accurately, don’t use a single agent. Start by doing web and street level recons – find all the places you can on your own, and call the listing agents for them. Then get those agents looking for you, too. One agent can’t do the job right, and can never be as connected as a whole bunch of them. You don’t really need a agent to represent you, and trusting one person with finding all the options doesn’t work well.

Do Your Homework on Leasehold Improvements

In addition to looking at everything you can get your hands on, you’ll need to build a little wisdom on things like average costs for leasehold improvements (how much it’s going to cost to renovate your space). Costs can vary wildly, and a few reference points are a handy thing.

If you tap your network, you’ll likely find a few health care professionals who have recently renovated or moved. In our area alone we were able to talk to a chiropractor, a dentist, a denturist and an acupuncturist/TCM practitioner – all with very similar office needs to a us, and recent leasehold improvement numbers. Everyone was very generous with their time and experience, and those conversations helped us identify some ridiculously expensive renovation quotes.

Always Negotiate

Although it might seem awkward, you’ve got to negotiate. The system is designed that way – it’s not like buying groceries or going to the movies (0r health care, for that matter). Property owners price their space expecting to negotiate. If you don’t, you’ll pay more than you need to.

Remember – no one’s going to be offended if you counter-offer or ask for something extra. A real estate agent may tell you that the owner will be offended, but that’s usually just a deal-closing tactic. Ignore it.

Be Willing to Walk

Nothing puts you in a stronger negotiating position than being willing to walk away from a space. Falling in love with the perfect office is a great feeling, but you generally pay for that sensation. This isn’t necessary, but it’ll get you the same space for less money.

Being Lazy Costs A Lot

Do you have to do all this stuff to find a new space? No. Certainly not. Just bear in mind that not doing your homework costs a lot in the long run. You’ll likely negotiate less effectively, and pay more for a space that’s not as good as what you could have found by doing some legwork up front.

It’s tempting to rely on the land owner to take care of everything, but being “hands-off” in your office search and renovation tends to drive up the cost. Many owners will offer to do all the leaseholds for you and amortize the costs over the life of your lease. This definitely is convenient, but don’t be afraid to go looking for your own contractor and financing if you feel the building owner isn’t giving you a competitive price or interest rate.