Tips For Choosing A Commercial Real Estate Agency
Whether you are looking to buy commercial real estate or lease, you need to consider working with a commercial real estate agent. These agencies come with a range of benefits that can make your property search and acquisition much easier. Of course, you need to ensure that you are working with the right agency and that they will be helping you and not the seller or landlord. Fortunately, there are a number of tips that you can use which will help you narrow down which agency you should work with.
Do Some Research
Before you contact any agencies, you need to do some research. You should start by looking for commercial real estate agencies in the area that you want to move your business to. This will ensure that they have local knowledge that can help you find the location that your business needs. If you have business contacts in the area, you might want to consider talking to them about the agency they used and if they have any recommendations.
Once you have a list of agencies in the area, you have to research them. The agency you work with should specialize in commercial property and not residential property as well. By working with a specialized agency, you ensure that they know about commercial property and are not simply trying to increase their portfolio.
You should also look at any reviews the agency has online. The experience that other people have had with the agency can give you an idea about the experience you will have. Of course, you need to be careful with online reviews because more unhappy customers will leave a review than the happy ones.
Look At Who They Work With
When it comes to commercial real estate, there are 2 different types of agencies and you need to be aware of this. Some agencies specialize in tenant representation while others specialize in landlord representation. If you are going to be leasing a property, you need to work with an agency that specializes in tenancy representation. These agencies will be ethically and legally bound to have your best interests in mind while landlord representation specialists will have the best interests of the landlord in mind.
Look At Their Communication
Communication is essential when you are looking for any property. This is why you have to assess the communication levels of the agency before you sign an agreement with them. The first step in this assessment is to see how long it takes them to communicate you after you initiate contact. If you have emailed the agency, you should see how long they take to get back to you and if you have called them note how long it takes them to answer the phone.
This is very important because the initial communication will give you an insight into any further communication. If the agency takes days to get back to you by email when you first contact them, it is likely that they will take long to contact you after you sign an agreement. When considering communication, you should also check if they have multiple ways that you can contact them and what their speed is.
When choosing a commercial real estate agency to work with, you also need to consider the experience and education of the staff. You need to find out if the staff you deal with have handled property searches for businesses similar to your own in the past. They should also be fully qualified and licensed estate agents and willing to show you proof of this.