When signing a new lease, existing lease, or buyout agreement, it’s so important to make sure that you understand the terms, and feel confident that your best interest, and the interest of your property for the short-term and long-term, are reflected accurately in the agreement.
Unless you are an expert, with years of experience in the telecom industry, navigating the negotiation process can be incredibly challenging. Protect yourself from 3 potential pitfalls that can be costly in the future:
- Know the lay of the land. It’s impossible to proceed on the journey without an accurate map. Collect information about the leasing process, and understand the key terms of the agreement.
- Make sure you have the appropriate resources to help you navigate. If you don’t know the rules of the road, find someone who does, and is willing to share the information. Knowledge is power.
- Don’t become susceptible for hazards in the future by leaving money on the table or unknowingly putting yourself and your property at risk. Protect your core asset today and for the future.
Currently, there is a group of people within the cell tower lease industry who refer to themselves as cell tower “consultants.” More accurately, this is a group of brokers, and it is important to distinguish a cell tower consultant from a cell tower lease broker.
Is there a difference between a consultant and a broker?
Absolutely, and assuming they have the same roles and responsibilities can be a costly oversight. By definition, a broker is an individual who acts as an intermediary between two parties together. Brokers have an objective: expedite and close the deal, and move on to the next commission opportunity.
A true consultant will demonstrate the following actions:
- Review ALL aspects of the transaction (financial, legal, development, etc.) to ensure that you have a solid foundation and understand how each piece of the puzzle affects the end result.
- Encourage you to take the time needed to consider all of your options. You should not feel pushed to make a quick decision about your lease, which is a long-term commitment.
- Educate you on the process, and provide the tools and resources to make informed decisions about your lease.
- Ensure that the agreement will maximize value, and at the same time, minimize hazards, securing not only the MOST money, but also the BEST agreement for you.
When you are contemplating a lease agreement, remember that there are, and will be, plenty of “consultants” who want to work with you and close a deal. Do your homework before signing your name. Find a professional who has the experience and expertise to get you the RIGHT deal for you today and in the future.
Contact a true Cell Tower Lease Consultant.