As a business owner, your time is valuable and should be centered on the daily running of your business. If you are in search of office space for your growing business, the best option for you is to hire a commercial real estate agent. Commercial real estate agents are well networked and thanks to their contacts, they are able to find available commercial listings much quicker. Apart from that, they can handle all negotiations with professionalism too. As a result, they save time and money. You don’t have to worry yourself with tours and frustrations brought about by lousy listings. To take advantage of the benefits above, you must hire the top commercial real estate agents.
Here are the top 5 tips to help you connect and work with a top-notch commercial real estate agent.
Over the past two decades, the internet has become a trusted and premier source of information covering a wide range of topics. Unlike in the past when you had to contend with references from family and friends, today you have access to property listing websites like Zillow, Trulia, and Realtor.com. As an online user, you can dig around the above websites for the best commercial real estate agents. To get started with Zillow, just browse to its homepage and select Agent Finder from the menu bar. From the “Looking for Pros” section, select real estate agent, add your location, name and the platform should list available commercial real estate agents. The same applies to Trulia and Realtor.com.
2. Be honest
Searching for a great commercial real estate firm is not easy. It’s even harder when given the option of sorting them out. As a client, it is important to make a clear decision from the word go. If you have selected to work with real estate agent A, make sure that they know they are your preferred choice.
Never go behind their back and hire real estate agent B, C and so on. If you want to work with more than one agent, be honest from the start. For this to work, you must establish an open relationship between the parties involved.
The reason why real estate agents will prefer not to work with a client who is already represented by another real estate firm is that it’s a huge risk for them. Not only will they end up wasting their time and money but their reputation too. Be honest from the start.
3. Ensure transparency prevails
In the commercial real estate, there are three types of transparency namely Market, Lease, and Professional. Market transparency is where vacancy and pricing information related to the property’s market value and relative health of the leasing market is provided. Lease or Process transparency requires the provision of simpler documentation focused on mutual trust between tenant and landlord. Lastly, Professional transparency pertains to the disclosure of fees, how they are calculated and who is paying. When it comes to the relationship between you and your commercial real estate agent, transparency must be exercised. Your real estate agent must be privy to your business, what it does and your credit score. Never obscure any facts.
4. Share your property listings choices
Thanks to the internet, it is now much easier to find commercial real estate listing on your own. While you may be tempted to visit the property listing on your own, it’s wise to share the information with your commercial real estate agent. As said earlier, commercial real estate agents are experienced in negotiations, lease processing, and other legal requirements.
Sharing the information with your real estate agent will eliminate the need for you to schedule tours, email the listing agent or confirm availability. Furthermore, sharing the information helps to build a better relationship between the two of you. That is not all. Your time will now be available for the running of the business.
5. Organize your finances
Before leasing a commercial property listing for your business, you must organize your finances. Today, landlords have the right of checking your financial history, personal tax returns and those of your business. Additionally, they can review the profit and loss statement of your business and banking statements for the past 6 months. Apart from that, they are obliged to find out your personal credit history just to be sure that you are not a risk once they lease the property to you.
As the client, you can simplify the whole process by making the above information available to your commercial real estate agent who in turn will make it available to your new landlord. This will place you ahead of other businesses competing for the same space.