If you’re in the commercial real estate market, you will most likely need the services of a professional real estate agent. Whether your’e on the buy or sell side, using a professional comes with real benefits:for example you’llmost likely get a better deal more quickly and it will make sales and purchase administration and compliance much easier.
While there are many commercial real estate agencies in the market, not all of them will be right for you. Taking care to select the agent that fits your requirements is an important step to success.
Outlined below are some of the crucial factors you need to consider before engaging a professional real estate agent.
Experience
An experienced real estate agent will have in-depth knowledge of the market you are working in, with established commercial networks of buyers and sellers, a breadth of services to offer and a sound appreciation of what is required to secure the best deal for you.
But experience alone is not the entire solution.You should also take time to check the agent’s performance record and find out what other services they can provide.
Good Negotiation Skills
Quality negotiation skills are an essential part of a successful real estate agents commercial repertoire.Finding a real estate agent that understands the market, understands your requirements and has both the willingness and capability to secure you the best deal is essential.
Communication and professionalism
The best real estate agents will take the time to listen carefully to your requirements and work closely with you to achieve your objectives.Additionally when selecting the right agent, keep an eye out for signs of their professionalism – the way they dress, the way they communicate with you and other stakeholders, the quality of their printed materials and advertising and their thoroughness. Always remember that decision making is ultimately yours and the agent needs to respect that.
Location
Location is an important factor when selecting a real estate agent. Working with an agent that understands the area or region you are looking to buy or sell is an essential consideration. They will have networks of buyers and sellers in the area and will understand the local dynamics. It also provides convenience when you need to access the agent at their office.
Price
Most real estate agents will charge a percentage commission on the price of the transaction, although occasionally they will charge a fixed fee. Don’t make the mistake of engaging the lowest price agent – this may reflect on their competence or experience and it will certainly be reflected in the level of attention and quality of services you receive from them. By contrast, if you’re concerned that the agent’s fees are too high, shop around to test the market.
Engaging the right agent for you will maximise the likelihood of you achieving your buy or sell expectations. When your looking to play in the commercial real estate market, be sure to consider these tips for the best outcome.