Three Mistakes to Avoid When You Choose an Industrial Real Estate Agent0

Posted by Thomas Miller, CCIM

miller-industrial-properties-for-lease-sale-northern-nevadaHiring an industrial or commercial real estate agent is a crucial step of your real estate transaction. The right agent can significantly impact your experience for the better, and it’s wise to find one with experience and a successful track record. And yet, many people rush this process. Don’t be one of them. Here are three mistakes to avoid when you choose an industrial real estate agent.

Hiring the Wrong Team

This is the most prevalent mistake we see. It’s critical to understand that landlords hire agencies to work exclusively for them to try to fill their vacancies. That team places their agency marketing sign in front of a property. Unaware prospects make the all-too-common mistake of seeing the property, calling that number, and speaking to the agent on the other end with the mistaken assumption that this agent will judiciously help them with their real estate needs. The truth, the agent on the other end of the phone call is not their agent. Instead, the person to whom they speak is actually under contract with the landlord to secure the best deal he or she can for the landlord, and not the potential tenant. If this sounds scary, it should. You’re hired the wrong team.

Hiring the Wrong Agent

It’s not an uncommon scenario in which an agent is hired to assist you in your real estate needs based on a friend’s referral or an internet ad or some other means. Unless you’re hearing specifically – with proof – that this agent has a long history of successful transactions just like yours, take a more logical method to finding the right agent. Interview several agents. Most successful commercial agents are able to quickly and easily show a track record of successful transactions. These transactions should be numerous and current. This is how to ensure that you have an experienced agent advocating for your needs, and not the landlord’s.

Hiring the Wrong Type of Agent

Ask yourself whether you’re comfortable letting an agent learning the ropes on your transaction. We see this frequently, when a tenant or buyer is, unfortunately, poorly represented. The situation unfolds much as you’d imagine. The party that is well represented pretty much has their way on these deals. Don’t repeat this mistake. Hire an agent who is well experienced in your specific transaction. It will streamline your deal, saving you time, money and lots of anguish. It’s not your job to educate your agent, so let him get his education on someone else’s dime.

Miller Industrial Properties in northern Nevada has decades of experience in Reno and Sparks. Don’t partner with the wrong team, the wrong agent, or the wrong kind of agent – partner with a Miller Industrial Properties agent.

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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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