Choosing a commercial property for your business can have a long-lasting impact on your business. This highlights the importance of finding the right commercial real estate agent who will become your tenant representative.
While a positive first impression is a good place to start, you need to dig deeper to learn more about each agent to see if they are a good fit. The right agent will display a comprehensive skillset while matching well with your personality.
Here are some great questions to ask that will help you select the right commercial real estate agent.
Don’t hesitate to ask for past references and the amount of experience they have in their field. Rather than focusing on the years of experience that a commercial real estate agent has, it is best to look at the number of successful deals they’ve completed.
The best commercial real estate services will help you find options that you might not have thought to consider. It is the job of your commercial real estate agent to scour the market and expand your idea of a suitable commercial space.
A knowledgeable commercial real estate agent is able to use financial metrics to help you compare the total costs of leases.
Commercial transactions are complex with many potential challenges for business owners and agents. A true expert has a good understanding of what types of issues to expect and can answer this question with honesty and integrity.
This is often an overlooked question, but an important one nonetheless. When business owners aren’t aware of the length of time it takes to find the right space, it could lead to frustration and miscommunication. Your agent can provide you with a realistic timeline of when to expect the first round of tours and the average amount of time for a turnaround.
While no two companies are alike, you’ll want an agent who can provide an example of a successful deal for a similar company. If you run a small business and the commercial real estate agent only has experience with large corporations, the relationship might not be a good fit.
An expert in commercial real estate services is always up-to-date on current market conditions. This information is critical for business owners to determine if lease terms are favourable.
This will give you a better insight into the specific process that your commercial real estate agent carries out and how they will help you find the right space, including dealing with multiple offers and knowing the average amount of properties you’ll be touring.
If your business has specific requirements, you would benefit from finding a commercial real estate agent who specializes in the type of space you’re looking for.
Finally, you want an agent who will take the time to answer this question and shows interest in finding out how to serve you better. When it comes to finding the right commercial real estate agent, it comes down to the characteristics and qualifications that you value most.
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