Looking for the Right Commercial Property? Here’s How to Find the Right Agent First.0

Posted by Thomas Miller, CCIM

If you’re ready to buy or lease commercial property, you need something else first – the right agent. So how do you find the perfect agent? Ask around for a few referrals, make some phone calls, and then narrow down your options by making sure your agent ticks these three boxes.

  1. Find the Right Agent FirstTrack Record — An agent’s experience will streamline the buying or leasing process – and his or her limited record of success can be a big red flag. The right agent listens, thinks and asks all of the right follow-up questions. If you meet an agent for the first time and he or she doesn’t listen carefully and ask lots of questions, you need to keep looking. The right agent will draw from his or her significant experience and quickly bring your initial plan into sharp focus for you. If your plan was on the mark, you’ll know it. Otherwise, you’ll be offered new options to consider that may afford better results for your needs. But this is directly related to your agent’s experience, and there’s no substitute for it. Bottom line – look for an agent with the best track record you can find. You’ll know it when you hear it.
  2. Market Awareness — In the commercial real estate field, simply locating a list of specific properties in a specific size range is fairly straightforward using today’s technology. The right agent, however, knows of properties that aren’t listed on any website because of market awareness. What’s more, the right agent knows which properties listed online are already off the market or have two or three users trying for a lease. You want to use your time wisely in the commercial property search – taking advantage of a savvy agent’s extreme market awareness is the way to do just that. If your agent isn’t helping direct your search into locations you didn’t know about or showing you properties that aren’t “on the map,” find another agent. In depth market awareness takes years to develop; seek out an agent who’s been completing lots of transactions for at least a few years. They have more contacts with the people who matter, and they will help you get to the best terms and prices quickly.
  3. Best Industrial Real Estate Practices | Miller Industrial PropertiesHigh Volume — By this, I refer to an agent who has completed a significant number of the types of transactions you want to perform. High volume agents command respect not only from peers but also from developers in the marketplace. This translates to a higher respect for your transaction. In real estate transactions, associations matter. The fact that a top agent is representing you speaks volumes about your decision-making abilities. Look for an agent who has performed the most deals in the area of your need, not necessarily the agent a friend recommends. What better measuring stick than an impressive number of successful transactions?

If you’re looking for an experienced agent for your commercial property transaction, 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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