Finding your next investment property or the perfect space for your small business is an exciting time, but it can also leave you feeling overwhelmed. Before you get too far into your search consider hiring a commercial real estate broker. The reasons to work with a commercial real estate broker are many but simply put: they can help ease some of the stress that comes along with the property search and make it fun again! If you are in the market for an investment property or commercial office space, check out these reasons to work with a commercial real estate broker.
Knowledge and Experience
When working with a commercial real estate broker, you don’t have to know everything about commercial real estate. That’s their job! Choose someone with knowledge and experience, so you can trust they know what they’re doing and you can focus on running your business.
Just as you have a professional network within your industry, real estate brokers network and work with other brokers and vendors. This can benefit you, as the client, in several ways. One, they may know of someone looking to buy a property you are preparing to list or to sell a property that you are interested in. Two, real estate transaction usually involve a team of vendors including a banker, lawyer, contractor, etc. And while your broker may not be able to recommend a specific vendor over another, they can provide a list of recommendations as well as they experience working with them. When your team works together well, the whole process and transaction will run smoother.
Commercial real estate brokers are well versed in the local market conditions. From comps in the area to average days on the market, your broker is able to give you realistic expectations as well as make sure your deal is competitive. When helping you find a property, they have the expertise to know which areas are best. They know, better than any website, where the properties are located that would fit your needs. They know which listings are in your price range and can truly find you the most desirable options much faster – saving you both time and money!
While brokers will not “set” the price for your property, they do help guide you to list it at an appropriate price. Brokers have industry data and local knowledge to help you determine the price per square foot and what potential buyers are willing to pay. If you’re the buyer, your broker will be able to guide you to a fair purchase price to ensure you are getting a good deal.
Along with pricing information, your broker will negotiate the deal on your behalf. It’s part of their job description! Experienced brokers know how to represent you and your wishes well at the negotiation table. Unlike the buyers and sellers, the broker is not emotionally invested in the transaction and often has a clearer view of the overall deal.
A commercial real estate broker will not only save you time and money but will take a lot of the stress out of the property search and negotiating. You can be confident in your selection and deal.
If you’re looking for your next investment property or space for your business, contact us today. Our team has over 30 years of experience in southeastern North Carolina.