When facing real estate transitions, whether purchasing, selling, or relocating a dental office, it’s essential to work with a professional who understands the specific needs of healthcare practices. In a recent episode of Beyond Bitewings, Jennifer Page from Carr Real Estate discussed the importance of engaging a healthcare-specific real estate agent early in the process to avoid common pitfalls.

First, avoid working with agents who represent landlords or sellers. Jennifer highlighted that many dental professionals mistakenly reach out to the agent whose name is on the property listing, unaware that this agent has a fiduciary responsibility to the landlord. This is akin to having the opposing party’s lawyer represent you in court—not exactly a recipe for success!

To ensure fairness and avoid conflicts of interest, Jennifer emphasizes the need for tenant or buyer-exclusive agents, particularly those who understand the intricacies of healthcare practice spaces. This includes knowing how to negotiate better lease terms, finding spaces that fit the unique needs of a dental office, and properly timing the process. Waiting until the last minute or rushing real estate decisions can lead to poor leases or missed opportunities, so starting the process at least a year or more in advance is key.

Another invaluable tip from the episode is to always negotiate multiple properties at once to keep your options open. Dental practitioners can leverage competition between landlords to secure the best possible deal.

Working with a healthcare real estate firm, such as Carr Real Estate, can give you access to an extensive network of healthcare-specialized agents who can provide no-cost guidance to the buyer or tenant. By securing this type of expertise, dental practices can secure optimal locations with the best terms, allowing business owners to focus on patient care instead of real estate headaches.

To listen to the Beyond Bitewings episode, click here. For more tips and to connect with healthcare-focused agents, contact us for expert advice.