How to Choose the Right Commercial Real Estate Broker
Nov 5, 2015
If you’re looking to buy, sell or lease a commercial property, it’s important to hire a qualified commercial real estate brokerage to represent you. When you plan on investing hundreds of thousands of dollars into a property, it makes sense to have proper representation act on your behalf so you can avoid a potentially high costing mistake during a commercial real estate transaction.
If you’re looking to venture into the commercial real estate world, here are three guidelines to use to select the right commercial real estate firm for you:
1. All real estate agents are not created equal.
Residential transactions are not the same as commercial transactions so don’t have a residential real estate broker take care of your commercial real estate needs. Residential brokers sell houses and other small residential dwellings, but they’re not usually qualified nor do they have enough experience to give sound 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.
2. Money is always a factor.
Knowing what a commercial real estate brokerage will want to charge you in terms of a fee seems like an obvious factor, but it’s important to note that commercial real estate commissions are different from residential real estate commissions. The commissions in commercial real estate can vary and are negotiable, and they’re usually paid by the landlord or seller in a transaction.
3. A broker with professional sources is huge.
When you buy, sell or lease a commercial real estate property, you may need to work with a variety of professionals including real estate lawyers, property inspectors, contractors, appraisers and more to complete the transaction. A good commercial real estate brokerage will have a valuable network of professionals to refer you to.
Finding the right commercial real estate firm can take a lot of time. With the above guidelines and proper research though you can find a brokerage that will not only fit your needs, but will have a partnership with you beyond a price negotiation or completion of a commercial transaction.
Matanky Realty Group is a full service real estate firm offering expertise in brokerage, acquisition, development, redevelopment, real estate consulting, leasing and management. We assure results through our experience, professionalism and concentrations in real estate. Our staff includes experts in development, construction, marketing, management, law, accounting, insurance, and acquisition services. Unlike services contracted from outsiders, our staff members are well versed in commercial real estate in addition to being experts in their respective fields. Contact us to learn more about buying, selling or leasing commercial properties.