You want your commercial real estate agent to be credible and efficient in handling your transactions. You should be able to find someone who you can trust and be confident.
Commercial real estate agents have portfolios that they present to potential clients. In it are their achievements and everything positive that prospective buyers or sellers would find impressive. Some consider portfolio to be enough, but for others, they find it vital that they get to know their agent on a more personal level. Doing so creates a partnership. It builds trust and confidence, which are essential ingredients to make every transaction run smoothly.
What questions should you ask your commercial real estate agent?
Numbers
Ask your prospective commercial real estate agent the digits. How many properties was he able to close in a month and a year. Knowing this helps you assess how much effort he puts into their work, which is vital to achieving success in real estate investing. This premise will also define how many clients they get monthly or yearly. You’ll know when they’re the busiest and when they can entirely allot their time to your requirements.
Prompt and Direct Communication
If you choose a large commercial real estate office, ask them who to direct communications to. Handling transactions related to real estate means you have to be prompt; otherwise, you’ll miss or lose a valuable opportunity. Make sure you have a direct line to your point of an agent.
Establish how you want your communication to be directed. Do you prefer phone calls over emails or vice versa? Inform your commercial real estate agent about it and try to work out your arrangement.
Commission Rates
Be open about discussing this concern with your commercial real estate agent. It pays to set the expectations so you can both be prepared. Don’t limit yourself to a certain amount. Don’t base your judgment on the price tag.
Be open about committing to a commercial real estate agent with a higher rate. You never know. It might give you peace of mind and confidence to get the right property.
Read What You Sign
When you hire a commercial real estate agent, you enter into an agreement with them. They will devise a contract wherein even the littlest detail has to be written. A contract is like a warranty protecting both parties against unforeseen and untoward misunderstandings. Make sure you read everything. Signing a contract can either do you good or bad but often, not understanding what’s stipulated costs you more.
Commercial real estate agents are humans with exceptional talent and skills in negotiation and selling. But more importantly, they are passionate individuals whose objectives are geared towards helping those planning to get into real estate investing.
Don’t hesitate to ask questions.
Hi! We’re Josh and Jolene Baijot, the creators of this website. We’re also commercial real estate brokers in Bellingham, Washington. Thank you for taking the time to read this blog post. We appreciate your time spent on this site. You can connect with us on Facebook, Instagram, or contact us through this website.
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