Three Reasons Not to DIY the Lease or Purchase of Industrial Real Estate0

Posted by Thomas Miller, CCIM

dont-diyIf you think about poor decisions you’ve made in your lifetime, it’s a safe bet that you were lacking in the right kind of experience and knowledge to guide you. We aren’t all experts at everything, and sometimes, decisions are best made with the input and guidance of someone with the right background and experience. In most cases, leasing or purchasing industrial real estate is one of those times. Here are three reasons not to DIY the lease or purchase of industrial real estate. 

1. You lack the ability to read the local market as effectively.

If you’re leasing or buying commercial property, it’s imperative that you have  accurate and current market transaction knowledge – or access to someone who does, and who can provide objective advice based on many years of relevant experience. When you work with an active commercial or industrial real estate professional who makes a living handling such transactions, this kind of information is at your disposal. Think of it in terms of a medical or legal issue. Wouldn’t your immediate response include consulting a qualified doctor or lawyer?

2. You don’t have the same options at your disposal.

Sure, you can search online and drive around your preferred area. But then what? Experienced real estate professionals know their market, including what’s available now and what will be available next week. They already know which tenants are looking to sublet and how to negotiate the best price. Every buyer has individual parameters for a successful real estate transaction, and an experienced real estate agent can show you the properties that meet those parameters – whether they’re listed online or not.

3. You aren’t the most effective advocate for yourself.

A real estate agent’s sole purpose during a commercial property transaction is to be your advocate and this includes aggressively negotiating for you. This is not only a duty required by law, but a level of direct service for you and you alone.

It makes sense that someone who doesn’t make a living as an industrial real estate agent would be lacking in these abilities. But you can take advantage of these skill sets and more simply by working with the right agent.

There are lots of occasions when going the DIY route is a smart move. But leasing or purchasing industrial real estate likely isn’t one of them. Save yourself time, money and headache by working with an expert. His services are free, and you’ll be far better off in the long run.

We’re ready to help with your next industrial real estate project. Call or contact our team 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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