Things to Look for in a Commercial Real Estate Agent

It is important to be aware of the distinction between real estate agents and those that handle residential real estate. A commercial real estate agent will be more focused on business and he will be aware of the market fluctuations. Residential estate agents are taking care of the interests of a home owner and their family which makes their involvement more personal. This is not the case in a real estate agent as they will stick to the hard facts.

There are certain things that you will expect a commercial real estate agent to handle when it comes to your requirement. What you will be looking for is the experience and the connections that reliable commercial property agents will bring to the table. This will give you valuable information on off-market deals and pocket listings. Anyone with a head for research will be able to find listings online but an experienced agent will give you more options when it comes to looking for property. Communication is a key factor in maintaining a good relationship between you and your agent. If your agent is too busy for your inquiries and doesn’t provide time to discuss options or clarify some of your concerns, they will not be the right person for you. There is a responsibility that you have as a business owner to make sure that you contact the estate agent at a suitable time and in a professional manner. But this thoughtfulness should be returned by the agent as well.

Estate agents should be able to provide you with information about current listings and what they think are the pros and cons of the listings. Based on your requirements, the agent should be able to identify listings that cater to them. Sufficient market data is a must when it comes to the commercial properties you are looking at. You need to have the overall picture of the property to make sure that the purchase is profitable for you. This information will include demographics information, comparing sales of the locality etc.

There should be a professional relationship with the estate agent. One of the best sources of a real estate agent is their referrals. You can ask the estate agent for previous clients who have been happy with their work. You can speak to them and get an idea of whether you are making the right choice. Some of the questions you can ask them are whether they will be happy to work with the same person again and the strong and weak points of the agent. You can also search online to get an idea of real estate agencies and agents in your area. You have to be aware of the field of expertise of the estate agent. If it tallies with your requirement it is a plus point in their favour. For example, some estate agents may specialise in office buildings which others are focusing on family appointments. You can inquire about the knowledge they have about the niche you’re looking for, to get an idea of their experience within that niche.