Do you own a commercial property, but are unsure about how to start the process of selling or leasing it? Are you unsure about how to decide which commercial real estate agent to choose? This decision should not be taken lightly. Like any business relationship, you want to choose a commercial agent whose values and goals align with yours. We’ll layout the steps to show you how to find your match!
What to Look for in a Commercial Agent
Do your due diligence. You need to invest time to assess the ability of the commercial agent to achieve success. Here is some items that are important to look into when considering hiring a commercial agent.
- The Real Estate Company as a whole: Research the company on the internet. What do they specialize in, and do they handle your property type? If the company or agent focuses on residential real estate and and only dabble in commercial real estate, it might not be a good fit.
- The Commercial Agent: Your legal relationship may be with the commercial Brokerage firm, but it is the individual commercial Realtor or commercial agent that you will be working with on your project. You also want to look for an agent who has the Certified Commercial Investment Member (CCIM) designation, which lets you know that this particular commercial agent is competent and familiar with navigating and negotiating commercial leases and buying commercial property.
- Overall Experience: Has your real estate agent handled a property like yours in the past? How many years has he/she been involved in commercial real estate? Are they flexible enough to adapt if you have special needs?
- What marketing websites does the commercial agent belong to: If you are buying or selling commercial Real Estate, you want your commercial agent to have access to all the properties on the market. Ask your Real estate agent for the names of the commercial networks to which he belongs. Write the names down so you can compare with other real estate agents that you may talk to.
- Ask the prospective commercial agent which professional organizations he/she belongs to? A good commercial agent understands the value of belonging to professional organizations and networking with professionals in their market. You want to make sure that the person who represents you to be informed.
Now’s it’s time to meet with your prospective Commercial Agent
Upon meeting, the commercial agent shouldn’t raise any black flags. This gives you a good opportunity to see how well he or she communicates and if he/she will be the right person to sell on your behalf. Other factors you may look at is : Was the commercial agent on time? Does he or she appear to be organized? Is he or she neatly dressed? The right commercial agent should also present you with all of the necessary information and paperwork prepared before showing you a property to help you make an informed decision on this major investment. Documents that might be included are:
• previous environmental studies
• permits for any recent alterations
• a copy of the title
You should now feel comfortable knowing if you’ve chosen the right commercial agent. If not, repeat the above steps again until practice makes perfect. When you have found the right match, you know that you can move forward confidently in making one of the biggest decision in your business life.
We are confident that we can provide you with a commercial agent that you’re comfortable with and who can work best for your business. Once you’re ready to take the leap, our team of commercial realtors looks forward to speaking with you.