If you're thinking about purchasing, renting, or selling a commercial property, you probably have some inclination to hire a professional to assist you. Before you go hunting for a commercial real estate agent, though, it's a good idea to understand what one can do for you.
A commercial real estate agent will often have folks coming to them for help buying, selling, or renting properties. If they have a buyer and seller whose interests appear to align, they can quickly connect those two parties to see if it's a match. It's not uncommon for an agent to not bother with setting up a listing if they think they have two different customers who are perfect for each other. Connecting with a commercial real estate agent may give you an inside line on these sorts of properties.
Knowing the Regulations
Especially in the world of commercial real estate, it may not be as simple as finding a property, checking it out, scheduling an inspection, and closing. One particular issue that comes up frequently with commercial properties is usage rights. You don't want to sink a bundle of money into a building you might not be legally allowed to use.
An agent can help you identify locations that are zoned for your business. Likewise, they may also help you connect with city officials to learn about the possibility of obtaining a variance for a property. This is all work you'd much rather see done before you get into negotiations.
Folks who have enterprises to run don't always have the time to mess around with the buying, selling, or rental processes. An investor who's looking to sell, for example, might not even live in the same state. By designating a commercial real estate agent as their representative, they can save time and extend the reach of their investment efforts. When the time comes to sign the paperwork, the real estate agent can ship the necessary items to the investor, too.
Watching the Market
Knowing the commercial real estate market in an area can save you tons of money. If you can slip into an up-and-coming neighborhood while it's still cheap, you might save a fortune, get the property you need, and obtain an asset that will accumulate value quickly. Likewise, a real estate agent can help someone who's looking at a portfolio of properties figure out when it might be time to part with some of them. With the right ground-level knowledge and data, an agent can keep you from being left behind by an ever-changing market.
To learn more, contact a commercial real estate agent.Share