Just like any other business consultant with a particular expertise in a niche, good commercial real estate agents are invaluable business resources to tap into when considering leasing, buying, investing in, or developing commercial real estate. Below are a number of reasons why you should consider working with a competent commercial realtor in your area.
You Will Save Time
As a business owner you have a lot of responsibilities and must focus on your core business in order to be successful. You may not have the bandwidth or expertise to DO everything so you outsource it or hire someone. For example do you change your own oil? Do you do your own taxes? Do you draft all your legal documents?
The same goes for commercial real estate. Do you have the time, expertise, and resources to search for and find commercial listings, call listing agents, schedule property tours, draft proposals or letters of intent (LOI), negotiate contracts, or be knowledgeable in zoning laws? All of these tasks take hours and it’s what we do for a living. You could do it yourself, however when you add up the time and money you spend (and your time = money) on learning commercial real estate and doing it, you are taking your focus and time OFF your business which costs $$. Why would you risk losing more money on your business just to TRY to save a few bucks by not hiring a professional?
You Will Get The Best Deal
Let’s get the commission thing out of the way. Are commissions paid to commercial real estate agents? YES. Does that have a negative affect on the deal you get? NO. Whether or not you have someone representing you commissions are still being paid to the listing agent. For example, Landlords don’t ask you………Do you want the lease rate with me paying a commission or without? They will quote you whatever is market rate or whatever they think they can get you to pay.
We negotiate deals every day and keep a pulse on the market so we know what good deals look like. If a landlord quoted you $24 sf for a particular office space would you know if that was a good deal or not? We would be able to share comparable buildings and lease rates with you to educate and empower you to make good financial decisions. Also, we negotiate for and ask all the questions on things you may not think of. Landlords typically have a listing agent who is well versed in the market conditions and negotiations. Why wouldn’t you want to have someone representing your best interests.
You Will Have Access to All Listings (Listed & Non-listed)
In residential real estate there is an online MLS system that is free to use and includes ALL of the homes for sale. This makes it easier for buyers and sellers to search for homes on their own if they wanted to. In the commercial real estate world we do not have that. There are a few websites that have listings however the data is VERY OFTEN outdated and does not include all listings……unless you want to pay for them.
A good commercial realtor not only knows all of the property owners, landlords, and listing agents and keeps current on their inventory of available spaces (whether actively listed or not), we also pay a lot of money to have access to online data bases to ensure we don’t miss out on any potential listings that could meet your needs.
You Will Have Access to Valuable Market Intelligence
Commercial real estate agents have market knowledge that would be impossible to have unless you were out in the market everyday. It’s our job to stay current on market trends, available spaces, and current lease rates. This allows us to quickly tell you whether or not a listing is priced fairly. This insider market knowledge can give you peace of mind and empower you to make good financial decisions.
We Specialize in Commercial Real Estate
When you are shopping for commercial real estate and decide to hire a realtor, it’s important to hire one that specializes in what you are looking for. Yes, there are residential agents who say they can do commercial…….and maybe they can……..however if you want to look out for your best interests then hire a specialist.
Commercial Agents are Connected
We work and connect with a lot of business owners, investors, building owners, other commercial agents, startups, etc. Once we learn your business needs we are able to make phone calls and send email blasts to 1,000’s of contacts to search on your behalf to find listed and a lot of times unlisted properties that meet your needs. Because we have both feet on the ground at all times we are able to find properties for sale or lease that you wouldn’t otherwise be able to.