Choosing A Commercial Real Estate Broker

You will want to dig deep and take your time when choosing a broker to help you find commercial space for your business. Whether they are negotiating a lease on your behalf or closing a deal it takes more than luck on the brokers part. You’ll want to ensure that the broker’s skill level, experience, and personal style line up with your needs and wants. 

​Ask yourself these important questions when choosing a broker.

1:  What is the broker’s reputation for the qualities you are seeking honesty, experience, and thoroughness? 
2:  What are the broker’s weak points?
3:  Is the broker not responsive to emails or a good communicator?
4:  What are the broker’s strong points? 
5:  What are their areas of expertise? 

Three things to know when searching for a commercial real estate broker.

1. Every real estate agent is not created equal. 

Residential deals are not the same as commercial real estate transactions. Don’t make the mistake of having a residential real estate broker take care of your commercial real estate needs. Residential brokers are not qualified and do not have enough experience to give solid advice on commercial real estate. Choose a brokerage that has agents who specialize in the type of investment property you’re interested in buying, selling or leasing. 
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2. Money always matters.

Knowing what a commercial real estate brokerage will want to charge you in terms of a fee is an obvious deciding factor, but it’s important to note that commercial real estate commissions are different from other real estate commissions. Compensations in commercial real estate can fluctuate and are negotiable. They are usually paid by the landlord or seller in a transaction. 

3.  Professional sources are a huge asset.

When buying, selling or leasing a commercial real estate property, you will most likely need to work with a variety of professionals. These may include real estate lawyers, property inspectors, contractors, appraisers and more to close the deal. A seasoned commercial real estate brokerage will have a valuable network of professionals within reach. 

Don't rush when finding the right commercial real estate firm. Do your research and find a brokerage that will not only fit your needs, but will be a partner for future investments.