Use a Professional
If/when you decide to purchase or sell commercial real estate, you may discover there is quite a bit of information online about the process. You may then ask yourself if you really need a real estate agent. While many people believe they can buy or sell a commercial property using the internet, as well as other methods, without the services of a real estate agent (and it’s possible to succeed in doing this), you may be taking some serious risks. To avoid this, you should select a knowledgeable, professional COMMERCIAL real estate agent (not a residential agent) who will help you through the entire process........ start to finish.
It is difficult for someone who is not an experienced real estate agent to know the value of any particular commercial property. An experienced commercial agent will know if the property is priced too high or too low. When a buyer does not work with a competent real estate agent, there is a good chance they will pay more than a property is worth . If selling, they could be offering their property for less that it's true market value. Their knowledge of property values in different markets (and for different property types) makes working with a commercial real estate agent essential to the process.
In the world of commercial real estate, market conditions can change significantly in a short period of time. Commercial agents will know what factors are important before moving forward. Information on average sales price by property types (Office, Retail, Industrial, etc.), as well as other crucial factors (such as visibility, parking, signage, accessibility, taxes, zoning, etc.) and more, will help determine the approach a commercial real estate agent will take to benefit their clients.
Selling and purchasing commercial real estate can be complex and perplexing. The legal requirements regularly change and can vary for each village, town, county, and/or state. It’s important that commercial buyers and sellers know how to comply with all of the laws pertaining to real estate sales. Commercial agents are familiar with local laws, and an experienced commercial real estate attorney should always be consulted for any commercial real estate transaction.
Commercial real estate agents know many other professionals in the area that they can work with. This could include attorneys, inspectors, architects, expediters, surveyors, tradesmen, environmental engineers, local government officials, etc. They also network and co-broke with all other commercial real estate brokerages (locally and nationally).
One of the skills quickly developed and mastered by commercial real estate agents is their ability to negotiate deals. On a daily basis, skilled commercial agents are busy negotiating all aspects of commercial real estate transactions for their clients. They will know the value of an offer from a buyer, and be able to emotionally remove themselves from the situation to focus on protecting their client’s best interests.
Assistance After Closing
Commercial real estate can sometimes be complicated. It is possible for buyers and sellers to get caught up in the excitement of the moment. They may not have taken the time to ask all the pertinent questions at closing. No doubt there will be follow-up questions, possibly associated with property taxes or tax assessments and/or challenges, utilities, documents, contractors, and more. Your professional commercial real estate agent will be available long after closing to answer any questions you might have regarding your real estate transaction.
The agents at SOUTHGATE COMMERCIAL REALTY stand ready and able to assist you.