Choosing a property for your business, whether commercial or industrial real estate, can have a long-lasting impact on your company. This notion highlights the importance of finding the right commercial real estate agent to become your tenant representative.
While a positive first impression is an excellent 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 to 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 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 you have yet 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 can use financial metrics to help you compare the total costs of leases or purchase prices. They can also help you compare conditions/terms, operating costs, incentives, and more. This process can assist you with making better and more informed decisions regarding your property choice. Whether you’re interested in a land lot like East Point Business Park or a manufacturing building like 8512 44 Street SE, you must understand these nuances.
Our listing agents ask the right questions to determine your business needs. From there, we would review the available options, such as the properties mentioned above, and suggest the most appropriate choice.
Commercial transactions are complex, with many potential challenges for business owners and agents. A true expert understands 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 time it takes to find a suitable 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. We have worked with a wide range of clients, from start-ups to large corporations.
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 terms are favourable, whether they’re leasing, selling or purchasing.
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 a suitable 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. For this reason, be sure to ask about their listings upfront, so neither your’s nor the agent’s time is wasted.
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.
The real estate world is complicated. Consequently, your level of understanding is key to making good choices that will yield the results you want. And asking the right questions is the first step toward understanding. At CMS Real Estate Ltd., we are a full-service real estate brokerage. And with nearly 40 years of experience, we’re here to help. So if you’re ready, contact us today to book a commercial property viewing.
The material presented in this blog is provided for general information and educational purposes only. It is not a substitute for professional advice. All information is subject to change regularly and without notice. CMS Real Estate Ltd. assumes no responsibility for any errors in the information provided, nor assumes any liability for damages incurred as a consequence, directly or indirectly, of the use and application of any of the contents of the blog/website page.
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