June 6, 2018

Qualities to Look for in a Commercial Real Estate Broker

Finding the right commercial real estate broker can be a real challenge, especially for those unfamiliar with the business. You want someone that you can trust to help you lease, buy or sell the best quality property while not breaking the bank. Choosing the right commercial real estate broker can be the beginning of a fruitful relationship that lasts for many years. However, choosing the wrong broker can have devastating impacts on your business and bottom line that can last a lifetime. If you are looking for commercial property for rent, you can’t go wrong engaging a broker from Rakow Group.

We have prepared the list below that details the important qualities to look for in a commercial real estate broker.

1. Specialized Training or Expertise

Commercial real estate is a term that refers to a broad assortment of property types and variables. Different locations can have lots of different implications, and you definitely want a broker that is an expert in the area and property type you are seeking. It shouldn’t cost you any more to find a broker that is a specialist in the particular property type you are looking for. Take the time to find someone who has experience or expertise in the specific property type and location you are looking for commercial real estate in and reap the rewards.

2. Commercial Transaction Experience

You want to make sure that you are working with a broker who specifically has experience dealing with commercial transactions prior to making any commitments. The commercial real estate world is very different from the residential real estate world. Often times, residential real estate brokers will branch out into the commercial world to make a little extra money. We suggest avoiding these types of brokers and going for someone who primarily deals with commercial real estate transactions.

3. Commercial Real Estate Designed Marketing Plan

Another important thing to consider prior to hiring a commercial real estate broker is their marketing plan. Does this broker have access to the various commercial property databases you need in order to find you the best properties available? How many websites will your property be published on if you are trying to lease or sell it? These questions are essential, especially if you are looking for commercial property for sale. Take the time to find a broker who recognizes the importance of a solid marketing plan, particularly if you are relying on them to handle your commercial property for sale.