Before You Look for Industrial Property, Look for the Industrial Agent0

Posted by Thomas Miller, CCIM

miller-industrial-properties-renoIf you’re ready to buy or lease industrial property here in northern Nevada, there’s something you need first – the right agent. We’ve written before about the benefits of avoiding the DIY approach of industrial real estate, so get a few agent referrals, schedule a few meetings, and make your final decision based on the following information.

Three Non-Negotiable Skills in Your Industrial Agent

Good agents share similar characteristics, while great agents have these three non-negotiable skills in spades.

  • A successful track record in transactions like yoursAn agent’s experience has a direct impact on the leasing or buying process, so a limited record of success is a warning sign worth heeding. The right industrial agent will listen to your needs, consider available properties that may be suitable, and ask relevant follow-up questions. The right agent will use professional experience to bring your initial thoughts and plans into focus. If your plan was on the right track, you’ll know it. And if it wasn’t, you’ll be offered alternative options to consider that may mean better results for your needs. This kind of finesse is directly related to your agent’s experience, and there is simply no substitute. When in doubt, opt for the agent with the best track record.
  • Market awarenessSimply compiling a list of specific properties in a specific size range is straightforward these days. What sets a good agent apart is the kind of market awareness that includes properties not currently listed online, and an understanding of which listed properties are already off the market or have pending offers. Use your time wisely in the industrial property search by taking advantage of a savvy agent’s extreme market awareness. If your agent isn’t directing your search into locations you didn’t know about or showing you properties that aren’t “on the map,” this is a sign of market awareness that isn’t up to snuff. In-depth market awareness takes years to develop, so find an agent who has completed multiple transactions for at least a few years. They’ll have more contacts with the right people, and they can help you reach the best terms and prices quickly.
  • High volume transactions – High volume agents command respect from peers and marketplace developers alike, which has a carryover effect into your transaction. Keep in mind that in real estate, associations matter. A top agent representing you says something about your decisions, so find an agent who has performed many deals in your area of need – and not necessarily the agent recommended by your best friend. There is no better measuring stick than an impressive number of successful transactions.

If you’re looking for an experienced agent for your industrial transaction here in Reno or Sparks, we welcome the opportunity to speak with you. Learn more about the experience and accolades earned by members of our team or contact us directly today.

Our posts are intended to educate commercial real estate users so they can make better decisions in their real estate use, investments, buying and selling. We encourage your input and commentary. If you are enjoying these posts and finding them useful, help spread the word via Facebook, Twitter, LinkedIn, Google + or email with the buttons above.

About the Author

Thomas Miller, CCIM

Thomas Miller, CCIM is the president and broker of Miller Industrial Properties in Reno, Nevada. He has worked in industrial real estate since 1991, with 15 years of previous experience designing and building industrial warehousing and manufacturing facilities in the northern Nevada market. Contact Tom at tom@mipnv.com or 775-742-9891.

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