When it comes to selling or buying a commercial property, there are two people who can make or break the deal. The first is Industrial Architects. They are the best individual to tell you how suitable a project or building is to your needs. One of the leading architects & project management consultants for industrial & infrastructure projects, says that industrial architects should be consulted before choosing a realtor. They can advise you on agents that will better understand your industry.
The second person who is vital to a successful real estate transaction is a real estate agent. The article, www.propnews.co.uk/issues/2013/02/articles/84/how-to-choose-and-use-a-commercial-property-agent/, harps on the adage – you get what you pay for. We agree with it wholeheartedly. A better-suited realtor with education and experience will know his or her worth and consequently charge more. But before you pay an arm and a leg to a commercial real estate agent, we recommend a few questions to be asked.
• The first question should be the apparent academic background. Most places just require a license to sell a property and not in-depth academic knowledge. But choosing a commercial property is a significant investment. It should be done with proper care, consideration, and research. Just like a person should not accept a doctor or a lawyer randomly before a consultation, one should not pick a realtor on the go. Will you choose a general physician to treat a severe heart condition just because the law allows him/her to do so? Or would you instead select a heart specialist?
The same preference should apply to a commercial real estate agent. One who has advanced knowledge of commercial properties will always be better than an agent who sells 1BHK homes. So question his school and educational background.
• Education can only take a person so far, the rest of the way is paved by experience. The same applies to real estate agents. A realtor who has spent a decade on commercial properties would be far more equipped to handle any condition, preference or problem that may come forward. Therefore, ask about the number of years the agent has spent working with commercial buildings and if they can accommodate any particular need you have.
• The agent should be the focal point of your questions, but the real estate company should also factor in the decision. Some of the issues you need to put forward should be about the company. Do they handle the property type you are looking for? Do they have expertise in commercial real estate? Do a basic background search before making the final selection.
Besides these doubts that you need to clarify before selecting a realtor, there are some other things that need to be in focus. During the interview, with a prospect, look if the person is sharply dressed. A shabbily dressed individual is a mark of a lazy person. Also, check if he can communicate well with you. A person who can understand what you need will be able to provide better property choices to you.