When interested in leasing or purchasing a property or land for commercial use, then it pays to work with a quality realtor who has experience with these types of business-related ventures. It’s easy to make mistakes where large sums are involved, and then it becomes a costly lesson. To avoid this, here are some traits to look for when selecting a commercial-focused realtor.
Go-getter and Problem Solver
When you know what type of commercial property is needed, presenting that to a commercial realtor should spur them into action. When they’re a go-getter type that likes to have a new problem to solve, then that’s exactly what you need to see.
As Hooman Nissani, a prominent businessman with several commercial real estate interests in LA and Long Beach, pointed out, “A commercial realtor with the best connections who’s focused on your needs will almost always find great commercial space. Don’t waste time with ineffective realtors, as your business will stagnate.”
Integrity and Good Moral Character
Established realtors in the commercial arena have usually been working in that sector for many years. They have built up an enviable reputation for dealing with people with great integrity.
Companies don’t have time for shifty realtors who don’t walk their talk. It just gets too confusing to know what’s going to happen, and unless you own the business, everyone has a boss to report to and is accountable for what happens (or doesn’t). As such, it pays to deal with people who are reliable because they have solid connections around town.
On the flip side, someone who’s got a less than salubrious character has questionable connections around town which you should wish to avoid the company getting tangled up in. So, stick to realtors with great reputations to protect.
A Detail Oriented Person
With commercial real estate, much is in the finer details or hidden in the small print. When failing to examine all aspects that relate to the deal, the realtor could recommend a warehouse, office building, or piece of land that’s inappropriate for your needs. This will then waste your valuable time pursuing it when they didn’t check the zoning rights, for instance, which rule out the type of use that was required for the acquisition or new lease.
An Affinity for Commercial Interests
When a realtor is interested more in selling huge residential properties and doesn’t have much interest in the commercial side, then they won’t serve your interests well.
What you want is someone who enjoys the challenge of the commercial side. They like different types of commercial buildings and the unique concerns when picking the right listing for a client. It’s a completely different mindset required with substantial amounts at stake with each recommended listing or completed deal.
Selecting a high-quality realtor that works exclusively with commercial property interests should be a top priority for people involved with acquiring assets or arranging new leases. It’s all about integrity, contacts, the ability to find on (and off market) deals and get the right price through excellent negotiation tactics too. Nothing less will do.