By Gaylord Pierce - September 23, 2021
Selecting a Real Estate Agent to Sell Commercial Property
Selling a commercial property requires a lot of skill as well as know-how of the changing demands of the market. A real estate agent can let you know when it is best to look for property as he/she will be aware of the current status of the market. There are a few considerations that you can look at when it comes to picking the right professional for the job.
Good Business Understanding
Expert commercial property agents will have a comprehensive understanding of your business and your goals. They will understand the type of business that you are engaged in and have a good idea of your customer base. Your main customer base is one of the deciding factors in selecting a property as well. Other items that a property agent will look at are your current resources, your plans for growth and turnover estimates. It is only after they have a thorough idea of what you’re looking for and what is a right fit for your business can they start looking for premises to lease or purchase.
Knowledge about the Locality
It is important to understand the demands of the local customer base as well as what is in demand in the neighbourhood. This will help the real estate agent narrow down the search for a property. Therefore, they need to have a good understanding of the area backed up by research and observations. Where your premises are located has a big effect on your sales. Properties that are close to a main road or shopping complex can easily attract retail customers. Accessibility is a key factor in getting people into your business. Close proximity to public buildings can also help in bringing new customers when they walk past your premises and see something of interest. Therefore, the location can make or break your business.
Open communication and accessibility
A good estate agent will be able to have open and honest communication with you and let you know of everything that matters to the business property acquisition. They will be able to explain the legal side and complex matters effectively and update the business owner properly. The estate agent should also be accessible to handle all inquiries that you have. There should be a clear communication line dedicated whether via email or phone to correspond urgent matters.
Experience is something that will help the real estate agent in informing you which documents you need to fill for your lease application and what you can do to make sure that the application is processed and approved quickly. With experience comes certain professional connections as well that will come in useful when informing you of business prospects for growing the company. They will be aware of the local market and when fluctuations occur. Therefore, they will be able to advise you on when the time is right to grow your business and when there is an opportunity to move into a more profitable location.