Having an expert, trusted cell tower lease consultant by your side is a huge benefit when you’re approached by cell tower lease buyout companies or cell tower operators.
Whether you’re negotiating a new cell tower lease or it’s time for a cell tower lease buyout or renewal, the right cell tower advisor can save you time and money while helping you avoid the headaches and worries associated with negotiating with a major corporate player.
That said, how do you know you’re hiring the right cell tower lease consultant? How do you know they’re going to get you the most bang for your buck? Here are a few points to consider before hiring a cell tower lease consultant.
1. Relevant Work Experience
When hiring a lease advisor, look for someone with experience in the field. An experienced consultant has insider knowledge of how mobile operators negotiate, and they can make this work to your benefit while negotiating the contract. So remember to do your research and find an experienced consultant who has adequate experience in the field.
2. Record Of Stellar Results
The main reason you hire a cell tower lease advisor is they can help you achieve desired results. But you must make sure your consultant has a steady record of delivering great results before you give them a shot. It’s always a good idea to read reviews of a consultant before hiring them. These will give you an idea of their track record and briefly detail experiences with previous clients.
Always ask a consultant to provide you with references or referrals from previous clients. That said, be wary of consultants who show unreal results that are too good to be true (they typically aren’t).
3. Understand The Consultant’s Scope Of Work & Fees
Talk with your shortlisted potential consultants to get a clear idea of how they work and what they charge. If a consultant demands 25% of the rent for the entire lease term, this should raise red flags! Check the prevailing market rate for cell tower lease consultants in your area. The consultant’s fees should be similar to the market rate. Some consultants might charge a bit more depending on their experience and expertise.
4. Make Sure That The Consultant Has No Conflict Of Interest
Some consultants work with both landowners and cell tower operators. If you find a cell tower lease advisor working for a mobile operator, you can bet that their allegiance is towards the mobile operator and not the landowner. So always do your homework and only choose independent consultants who are not affiliated with wireless carriers.
5. Confirm That You’ll Be Working Directly With The Experienced Consultant & Not Be Passed Off To A Junior Team Member
As the cell tower industry proliferates with the rise in 5G networks, so does the size of lease advisory firms. Always confirm that it is your preferred consultant who’ll be handling your case. Also, look for consultants you can contact directly via text, email, or phone call.
Finally, Trust Your Gut Instincts
If you feel that the consultant is shady or not 100% transparent, you can be sure that they won’t work for your best interests. A cell site lease buyout or renewal can take anywhere from six months to one year. So, make sure you pick a trustworthy person you enjoy working with.