5 Things to Look for When Choosing a Commercial Real Estate Agent
Navigating the complexities of buying, selling, or leasing commercial real estate can be overwhelming. Having an experienced and strategic agent working to help you make smart decisions and avoid common pitfalls along the way will ensure you make the best possible business decisions.
Property owners, prospective buyers, and even potential tenants can quickly do an online search for brokers in their area and hire someone to represent them, but this might not be the smartest move. By taking the time to find and hire an agent with the right experience, character, and professional drive, you’ll be making a more intelligent decision for your future transactions.
Of course, you want someone who listens and understands your goals, is a solid communicator and is organized and professional, but there are other traits to take into consideration as you embark on your search.
Here are five things to look for as you begin looking for a partner to guide you through your upcoming commercial real estate ventures:
- Experience in commercial transactions. Anyone with a real estate license is legally able to handle commercial transactions but that doesn’t mean you want them handling yours. While many agents work on both residential and commercial deals, you want to make sure the agent you hire has experience dealing with large-scale commercial transactions. Unlike home purchases, which are primarily dictated by buyer’s wants and needs, commercial transactions are business dealings, and you need a partner that has your best interests in mind. Don’t be shy while you’re shopping for an agent – ask how long they have been working in commercial real estate and about their recent work helping clients buy, sell, or lease. A good agent will also be willing to provide you with references so don’t be afraid to ask for these when you’re close to making a decision.
- Local expertise. Real estate markets vary from state-to-state and can even differ significantly within the same city. Your broker should understand the area’s history and the current market, as well as be able to predict future changes that can help you make
smartinvestment and business decisions.
- Marketing skills. When it comes to selling or leasing commercial space, there is a lot more involved than simply putting up a listing. Find an agent that is tech-savvy and proactive, not someone who sits back and waits for potential buyers or tenants to come to them. By utilizing social media and digital platforms alongside more traditional marketing tactics, your agent has greater access to potential buyers and tenants than ever before – you want to make sure the person working for you is using these tools correctly to help you.
- Well connected. Often in real estate, it’s all about who you know. You want someone representing you that is well connected to the local community and within the real estate industry. Your agent can make sure you are the first to hear about listings that have yet to hit the market. You’ll also have access to their network of reputable attorneys, architects, and contractors., which can be especially valuable if you’re building.
- Accessible and responsive. The agent that you choose is going to be working for you for months to come and will be instrumental in helping you make critical upcoming decisions. You don’t want to hire someone who is only working for a commission check and not for you. Dealings in
commercialreal estate are complicated and unexpected things that are bound to pop up can sometimes make the process long and unpleasant. Having an agent that puts you first and is pleasant to work with can help make the process as smooth as possible. At Simply Commercial, we’re proud to come to work every day with a “clients first” mentality. We’re committed to putting your best interests first and focused on ensuring our team helps you reach your commercial real estate goals.