What is the one business that, if you work in that business, you are expected to not only to provide expert advice, but that advice will normally be given out for free? Yes, you guessed it, real estate sales and leasing. We constantly provide free advice to property owners and tenants, primarily in the hopes of ultimately representing that owner or tenant in a real estate transaction that will generate a fee or commission.
But what are commercial real estate brokers really expected to know, and how is a business owner or landlord able to determine if their broker really knows his or her stuff? Consider the following minimal requirements that let you know your commercial broker is really in the game.
- Your broker understands the sales and leasing market in their specialty, i.e.,the average lease rates per square foot and sale prices per square foot in retail, office, general commercial, industrial or vacant land properties.
- Your broker operates daily through a network consisting of investors, users, potential tenants, lenders, appraisers, title companies and other brokers that are able to provide consistent aid in getting your property sold or leased.
- Your broker works well with other brokers in the commercial real estate spectrum.
- Your broker has enough in-the-trenches experience to help you avoid common pitfalls regarding pricing your property for sale or lease, avoiding common snares found in leases and sales contracts, and just general common sense in handling negotiations and interpersonal issues between buyers and sellers.
- Your broker sincerely works with your best interests at heart.
- Your broker knows your competition well and the best ways to position your property to compete well in the marketplace.
- Your broker understands what improvements to your property will benefit most when staging the property for sale or lease.
- Your broker returns your phone calls and maintains a positive attitude..in any market.
Hopefully your broker fits well into each of the categories above and is a true commercial expert in his or her market. Most commercial practitioners in Mesa County are well-qualified in their field and are a joy for their customers and other brokers to work with.
We are truly fortunate in this area to have the great number of qualified professionals we have for such a small population. If you have questions regarding commercial real estate, call one of these commercial brokers. You’ll be well served.