March 22, 2018

Important Questions to Ask When Finding a Commercial Real Estate Broker

Are you in the market to buy, rent, or sell commercial property? Choosing the right broker can make or break you in a variety of ways. You want to find someone who is trustworthy, experienced, and knowledgeable without breaking the bank. The company that the broker represents is also important, as it can potentially offer lots of experience and resources to bring to the deal.

Finding the right commercial property for rent or sale is often one of the most important decisions you will make in the life of your business. There are several very important questions to ask prior to making any commitment to a broker.

How much experience does the broker have?

You want to work with someone who knows the ins and outs of the commercial real estate marketplace. If you are looking for industrial space for rent, find someone that has years of experience in finding that particular type of property. If you want to find office space real estate, find a broker that has successfully set people up with an office you would be proud to call your own. A broker that specializes in the specific type of property you are looking for is key.

Is the broker good at communicating?

Communication is absolutely crucial in any business transaction. You can start to get a sense of whether or not the broker is a good communicator from the onset of your dealings with them. Are they proactively reaching out to you to ensure you are on the same page? Do they seem to be on top of their scheduling and commitments? Are you left feeling like all of your questions were answered after a conversation with them? These are all important things to think about when choosing a commercial real estate broker.

Do you understand the broker’s fees?

It doesn’t matter if you are buying, selling, or leasing commercial property, you most certainly want to have a clear understanding of the broker’s fees prior to making any decisions. The last thing you want is to owe a commission or fee that you were completely unaware of after committing to a property.

Do you like the person you are dealing with?

When you start a business relationship with a commercial real estate broker, you aren’t just working with their company, you are working directly with a person. If your personalities or views are not a good match, you are likely to run into conflicts at some point down the line. By finding a broker that you enjoy dealing with, you are setting yourself up for success.

Rakow Group has the most qualified team of specialists in the industry. If you are looking for a commercial property for rent or commercial property for sale, or if you’d just like to have more information, please call us now at (914) 758-0220.