Real estate investors always like to make the most of market opportunities. In case of commercial real estate, properties and deals are often limited, and long before a sale comes up, deals are closed. That happens because commercial real estate brokers have their own networks and channels for information and access. If you are selling commercial real estate, one of the foremost aspects is to select a real estate broker you can rely on. Contrary to what some naïve investors may believe, the need and demand for brokers is real. They are responsible representing their clients, and through their experience, channels, and contacts, you can get a better deal for your property, without restoring to extensive online marketing.
Collaborating with a broker for commercial real estate
This is an aspect that can be confusing for some investors. If you have never worked with an industrial & commercial real estate broker before, a wise idea is to ask around for recommendations. You also need to evaluate if the agent has the necessary experience with selling real estate properties in the commercial & industrial sectors, because this could be a completely different experience than that of residential real estate. While you may not want to sign a representation agreement right away, discussing your requirements, expected price, and other details is necessary.
Ask the right questions
Make sure that you talk to commercial real estate brokers in detail and ask the right questions. Here’s a quick list to consider –
- How long does it take on an average to close commercial real estate deals?
- How frequently do you work for sellers?
- What is the character of your brokerage firm?
- How long have you been in business?
- Can you share details of the clients you have worked with recently?
- What kind of marketing channels would you use to promote my property?
- How does your brokerage work?
While brokers have their own approach to marketing, the best commercial real estate agents don’t take long to close a deal. In most cases, you don’t have to wait for long to get the deal done, and that may mean relying on internal sources and contacts only. Only properties that have serious issues or disputes end up online, because real estate brokers take no time in finding potential buyers. Just ensure that you find an agent who is worth relying and has experience with commercial real estate in particular.