Can Brokers and Co-Working Go Together?
According to WeWork, yes. The co-working giant has introduced a partner plan with brokers that, helps “find your client the ideal workspace,” according to the website. The goal is to get the client into a WeWork setting, and WeWork is willing to share the largesse with the broker. Basically, “when your client joins the WeWork community, you’ll earn a fee for up to a year,” the website pointed out.
That fee ranges from 10% on all new 12-month membership agreements, to a 2% fee every time the client renews the agreement. Expansions also can net the broker a percentage fee.
Whether this is a viable model for collaboration between co-working and brokerage remains to be seen. But it does represent a potential way to bridge a divide between long-term lease space and short-term co-work space.
- ◦Lease
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