Any dentist contemplating practice ownership should have an experienced group of dental-specific professionals on his/her team.
Dentists, have an experienced team of proven dental-specific professionals on your team before entering into a lease. Don’t “wing it” – it’s a huge investment – do it right from day one!
Let’s be clear and complete about what and who is needed before entering into a dental lease. Any dentist contemplating practice ownership should have an experienced group of dental-specific professionals on his/her team i.e., Banker, CPA, Real Estate Broker, Construction Contractor, Attorney, Architect, Space Planner, Equipment and Furniture supplier, Technologist, and so on.
Factors for Consideration in Addressing the Function of the Dental Real Estate Broker:
- Locate Space that is viable within the local market that conforms to the dentist’s specifications. Different specialties within the dental practitioner’s framework will dictate what type of location will be the most profitable for the dental tenant.
- Make lifestyle choices. Study the key area Demographics. Once favorable demographics have been determined, study the location characteristics within the determined demographic area.
- Pinpointing the ideal location to maximize market opportunity is the first step in establishing a thriving practice. Location is a key factor in profitability.
Some real estate brokers include location finding in their services, some don’t. Sometimes, the prospective dental tenant will choose his or her location, and after careful scrutiny by the help of a seasoned tenant broker, may rethink the choice and end up in a location that was even better than the initial location choice.
It is the job of the commercial real estate broker to negotiate tenant-protective stipulations throughout the entire business function of the dental lease.
Attorneys, by and large, do not negotiate for protective business stipulations, as their role is to review the lease for validity and enforceability.
Dental tenants need both types of representation in a lease – business and legal.
Selection of the type of real estate services is up to each individual tenant.
Some want two, three, or even four providers during the real estate procurement process.
Here’s what real estate law has to say about that thought process: If a tenant does not appoint, in writing, an exclusive real estate broker for representation during the real estate procurement process, the tenant has no real estate representation and does not have the protections of a fiduciary relationship with an appointed broker.
With no written exclusive tenant-representative appointment, any and all real estate representatives’ fiduciary responsibilities are to the landlord.
That’s why it’s so critical for any tenant to have Exclusive real estate brokerage representation, especially the dental tenant who needs a much higher level of business protection within the lease.
What dental practices don't know can cost them thousands...
About DENTREXX: How We Make a Difference for You and Your Dental Practice Profitability
DENTREXX is different because we make a difference! DENTREXX exclusively represents dental tenants and buyers in selecting strategic locations, negotiating money-saving Letters of Intent, and in negotiating business protective stipulations throughout the dental lease.
Four Core Elements for Profitability in the Real Estate Portion of Dental Practice Ownership
In order to have an overall profitable practice, there are many factors outside of the real estate portion that exist. DENTREXX's one and only focus is on providing the 4 state-of-the-art Core Elements for Profitability in the real estate portion of practice ownership.
The Age of (Mis)Information: Myths That No Dentist Should Believe Before Leasing a Dental Office
While it is doubtful that a dentist will go to the Internet and become a lease negotiation "Do-It-Yourselfer", there are misconceptions that can cost dental practitioners tens of thousands of dollars every year! Explore why these common myths often cost tenants like you thousands!
Know the Hidden Business Risks That Could Threaten Your Dental Practice's Profitability
"Hidden Business Risks" in Leases that are overlooked by most real estate professionals and many attorneys can wreak havoc in practice ownership – in profitability and in time away from patient treatment spent to resolve problems that can become nightmares.
The Importance of Exclusive Representation - Don't Overlook the "F" Word
It's all about the "F" word. Without exclusive licensed real estate broker representation, the dentist has no one watching his/her back! Licensing means we must adhere to the highest level of fiduciary responsibility to our client.
Why DENTREXX Services Cost Zero - How We're Paid For Our Sevices
If the dental tenant has no broker, the landlord pays the listing broker the entire agreed-upon fee. If the dental tenant has broker representation, the Landlord’s broker pays a portion of his/her fee to the dental tenant’s broker – and there is no cost to the dental tenant.
The Value of Having a Dental-Specific Team of Professionals On Your Side
Any dentist contemplating practice ownership should have an experienced group of dental-specific professionals on his/her team. Dentists, have an experienced team of proven dental-specific professionals on your team before entering into a lease.
Preparation for Your Successful Dental Practice Exit Strategy
View your office lease as a powerful portion of practice ownership, when negotiated for business protection. A business-protective lease plays an integral part in maximizing practice value at the time of sale and significantly helps to prepare for a lucrative Exit Strategy.
The Value of Well-Defined Dental Office Lease Renewal Options
Dental tenants should never settle for “renewal options at market rate” unless there is an accepted method of determining market value to arrive at a lease rate. Tenants should not sign a lease without the specifics of the renewal right.
The Age-Old Question: Whether to Lease or Buy Your Dental Office?
There is a fallacy created by most real estate salespeople/brokers or unlicensed consultants, that it’s always best to buy your location rather than lease it, making it seem that a purchase is a guaranteed win for the purchaser. Not so fast, here!
Buying a Dental Practice? It's Important to do the Homework!
Purchasing a practice is a huge emotional and financial investment and entails lots of moving parts. Dentists shouldn’t embark on such a journey without careful evaluation by a team of professionals who have a solid and longstanding reputation of helping dentists.
DENTREXX Dental Practice Success Stories - Real Dentists Share Their Personal Experiences
Satisfied DENTREXX clients proudly share their practice's stories of success and the positive impact DENTREXX lease negotiations have had within their practices.
DENTREXX Does What Others Don't.
DENTREXX exclusively represents dental tenants and buyers in selecting strategic locations, negotiating money-saving Letters of Intent, and in negotiating business protective stipulations throughout the dental lease.
Leave the real estate portion of your dental practice to us.
FOCUS ON CASE ACCEPTANCE.