Do you own a commercial property and want 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 an agent whose values and goals align with yours. We’ll layout the steps to show you how to find your match!
Do your due diligence. You need to invest time to assess the ability of the commercial real estate agent to achieve success.
Here is some items that are important to look into when considering hiring a commercial property 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 Real Estate Agent: Your legal relationship may be with the commercial Brokerage firm, but it is the individual commercial realtor or 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. This confirms that this particular commercial real estate 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 property agent belong to? If you are buying or selling commercial Real Estate, you want your commercial property agent to have access to all the properties on the market. Ask your Real estate agent for the names of the commercial networks they belong to. Write the names down so you can compare with other real estate agents that you may talk to.
- Ask the prospective real estate agent which professional organizations he/she belongs to? A good 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 is informed.
Now’s it’s time to meet with your prospective Commercial Real Estate Agent
Upon meeting, the 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 are:
- Was the real estate 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 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
• Copy of the title
You should now feel comfortable knowing if you’ve chosen the right agent. If you are not confident you have found the best agent for you, simply repeat the above steps again. After finding the right match, you can move forward confidently.
Applegate Commercial Real Estate Services
We are confident that we can provide you with a commercial real estate agent that you’re comfortable and extremely satisfied with. Contact the Applegate Commercial Real Estate Team.
