3 Reasons Why Working With a Commercial Real Estate Broker Makes Absolute Sense
If you were to learn a whole new skillset today, how long would it take you to hone that skill? This is a great question for someone who is thinking of skipping the commercial real estate brokers and get straight to the transaction.
Some people that want to get their feet wet in commercial real estate might mistakenly believe that it can be a DIY or do-it-yourself process. The truth is that commercial real estate takes a wealth of knowledge and prior experience.
Therefore, even if you were to learn a couple things about commercial real estate and talk to some people here or there, you still wouldn’t possess the right skill set in your toolbox to be able to handle a commercial transaction, including your own.
Working with a commercial real estate broker is guaranteed to save you time and allow you to maximize the potential of your property.
Would you rather find out that a transaction is not worth it at the beginning of the process, or after you close the deal?
This is something CRE brokers will help you avoid. These are 5 reasons why working with a commercial real estate broker just makes absolute sense.
Reason #1: Prior Experience
A seasoned broker will have the experience to format a purchase contract that covers the bases of appraisal, financing, inspections, and other due diligence items. You want to make sure that the person you are working with has your best interest at hand and protects you from anything going wrong that could’ve been avoided when the purchase contract was being drafted.
Not to mention, a good CRE broker has enough confidence in themselves to negotiate the purchase price before the contract gets executed, and maybe even negotiate a lower sales price before the earnest money goes hard after due diligence expires.
Reason #2: Time Sensitivity
Being involved in commercial transactions brings experience in problem-solving complex issues that may arise. The other important skill that brokers can bring to the table is awareness of time.
Some issues require more attention than others, at a given time. It is important to work with a broker who will not get caught up on one specific issue, instead of focusing on closing the deal.
Someone who gets stuck on an issue does not demonstrate good problem-solving abilities and is not driving the deal towards closing.
You want to make sure that you work with someone who can handle the different facets of a CRE transaction in a professional and efficient manner.
Every deal has critical dates that must be met, negotiated, and managed properly. An experienced broker will be active throughout the whole deal from beginning to closing, making sure that title, financing, appraisal, and all other matters are taken care of before they are due.
Reason #3: Property Marketing and Property Values
To determine the market value of your property, commercial real estate brokers have access to many resources that will help in obtaining the right numbers and comparables.
When the time comes to market your property, your broker will have the right network and connections to pitch your property to the right clients. Not to mention, they can list your property on multiple platforms that only other brokers will have access to. This increases your chances of getting the most qualified buyer for your property and saves you time overall.
Ask Questions!
If you have any questions or need to go over your concerns, connect with me today! It is important to have all your questions answered before you begin investing in commercial properties. Being prepared is key, and I would love to help you get started.
Book a consultation with me to get started on achieving your commercial real estate goals: BOOK NOW
