How to choose a corporate real estate advisor before choosing the address.
Registration, independence, method, deliverables and the agreement: what to ask before entrusting someone with the search for your company's next address.
A corporate real estate advisor helps companies find, compare and negotiate the property their operation needs: office floors, whole buildings and street-level retail. To choose well, look at seven points: CRECI registration, whose side they are on in the negotiation, where they start, what they deliver, what the agreement says, experience with the property type and district, and discretion.
- In Brazil, brokering a lease requires registration with CRECI, the regional council of real estate brokers, and a firm must have a registered broker as partner or director (Law 6,530/1978).
- Ask whose side the advisor is on and who pays. The profession's Code of Ethics provides for a commission from a single party for the same service, unless all parties consent or it is local practice.
- A good advisor starts with the company's operation, not with the list of available properties.
- Ask for a comparison based on total occupancy cost, not just rent.
- Compare real options from different owners. Without an alternative, the negotiation moves at the pace of whoever owns the property.
- Read the brokerage agreement: exclusivity and term change when the fee is due (Brazilian Civil Code, arts. 726 and 727).
- The work does not end at signing: occupancy, adjustments and renewal count too.
What a corporate real estate advisor does
It is real estate brokerage for companies, with a layer of analysis before the search. The difference is the order: first the operation, then the property.
| Stage | What the advisor does | What the company receives |
|---|---|---|
| Briefing | Understands the team, growth, timing, budget and what the address needs to say | The need summarized on one page |
| Districts | Matches the operation with the city: access, surroundings, image and supply | The districts that make sense, and why |
| Selection | Filters the market by the operation's criteria | A short, annotated list |
| Negotiation | Handles rent, term, rent-free period, renewal and exit | Terms compared side by side |
| Lease and occupancy | Follows signing, fit-out, the move and renewals | Continuity after signing |
Seven points to assess
Registration, independence, method, deliverables and the agreement. These are the points that separate a good choice from an expensive one.
- CRECI registration. In Brazil, brokering a lease is reserved for registered real estate brokers, and a firm that does it must have a registered broker as partner or director (Law 6,530/1978, arts. 3 and 6). CRECI is the regional council of real estate brokers. Ask for the CRECI number of the firm and of the broker in charge; a broker's registration can be checked on the CRECI-SP website.
- Whose side they are on. An advisor representing the company looking for space defends the term, the rent-free period and the exit terms; one representing the owner defends the asset. Ask who hires them, who pays and whether they are paid by both parties. The profession's Code of Ethics provides for a commission from a single party for the same service, unless all parties consent or it is local practice (Cofeci Resolution 326/1992, art. 4, X).
- Where they start. With the operation (team, growth, routine, budget) or with the list of available properties. An advisor who asks more questions than they present in the first meeting started in the right place.
- What they deliver. A comparison based on total occupancy cost (rent, service charges, property tax, fit-out, the move and the rent-free period over the whole lease), not a pile of listings. An address decision crosses several desks; the material has to work for all of them.
- What the agreement says. The brokerage agreement sets the scope, the term, exclusivity and when the fee is due. With exclusivity in writing, the fee is due even if the deal closes without the broker, unless the broker's inaction is proven (Brazilian Civil Code, art. 726). If the deal closes after the term but as a result of the broker's work, the fee is also due (art. 727).
- Experience with the property type and district. An office floor, a whole building and a street-level store call for different readings. So do Faria Lima and Chucri Zaidan.
- Discretion. A headquarters move can be sensitive information for staff, clients and the market. Agree on confidentiality from the first conversation.
None of these points depends on the size of the advisory firm. They depend on method.
What to ask before hiring
Seven questions that show, in one conversation, how the advisor works.
- Do you represent my company or the owner? It defines whose interests are on the table.
- Who pays the fee, and how much? It needs to be agreed in writing. Without an agreement, it is set by the nature of the deal and local practice (Brazilian Civil Code, art. 724).
- Is the agreement exclusive? For how long? It changes when the fee is due (arts. 726 and 727).
- How do you filter the market? It shows whether the selection starts from the operation or from available stock.
- What do I receive at each stage? Briefing, districts, total-cost comparison, negotiated terms.
- Who handles the negotiation and the lease? Continuity keeps information from getting lost between the visit and the signature.
- And after signing? Fit-out, the move, adjustments and renewal.
What to watch for during the search
The signs appear early, before any agreement.
- The listing that does not hold up. The advertised property “has just been let”, or the price is out of line with the district, and the conversation soon moves on to other options. In Brazil, advertising a property requires the owner's written authorization (Law 6,530/1978, art. 20, III), and the brokers' Code of Ethics forbids deceptive advertising (Cofeci Resolution 326/1992, art. 6, XVII). Ask whether there is authorization for the property presented.
- The selection that does not change. You explain the operation and the options stay the same. The search did not start from your company; it started from what was available to offer.
- Second-hand information. No floor plan, no terms in writing, no timeline for the owner's answer. An advisor who talks to the decision-makers on the other side brings that information.
- A single option. Negotiating without an alternative means negotiating at the pace of whoever owns the property. Real options, from different owners, compared on total cost: that is what gives the conversation weight.
- Pressure. Short deadlines to visit, decide and sign, with no time for the comparison or for reading the agreement.
The method, in five stages
Wharbz is a corporate real estate advisory firm in São Paulo (CRECI/SP 51.788-J). The search comes after the study; the lease comes last.
We talk directly with owners and managers of large corporate portfolios. For those looking for space, that means real options, compared side by side. For those who own the asset, companies that arrive with the decision already studied. In every transaction, we make clear from the start whom we represent.
Briefing
Team, growth, timing, budget and what the address needs to say, on one page.
Districts
Where the operation works best in São Paulo, with a reading of each district.
Annotated selection
A short list, with what each option solves and what it demands.
Negotiation
Term, rent-free period, renewal and exit terms, with a principal at the table when the negotiation calls for it.
After signing
Occupancy, adjustments and renewals.
You take a study to your board, not a list of properties. See what you receive.
What people ask before hiring an advisor
Shall we start with your operation?
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