You may want to hire your good friend who is a residential broker or try to go at it yourself, but these are some points to consider when buying commercial real estate as to why you should hire a commercial real estate broker.
1. Saves you time
Searching for commercial real estate can be a long and tedious process. A good broker knows the area, properties listed, landlords, buyers and sellers. They can pinpoint what you are looking for and find you properties quickly and efficiently. This is their job. They do this every day.
2. Saves you money
Brokers work for their client specifically to bring value in the deal to their client, whether that is negotiating a lower price for a buyer or retaining value for the seller. They can also find creative ways to get the deal done financially.
3. They can do the negotiating
It takes a special type of person to enjoy arguing and bargaining. A good agent understands what goes in to the total cost of the transaction (possibly even some unforeseen costs) and can make you a deal that will suit your needs.
4. Marketing Abilities/ Reach
Marketing in real estate is important on the buying and selling side of the transaction. If you are looking for a certain property, the agent will be able to use his marketing strategies (such as a wide array of contacts for an email blast or posting on Facebook) about what is wanted by the client and reach a brand new audience that wouldn’t be reached just through typical looking on the internet (a lot of times properties aren’t listed yet, and agents are the first to know about them). Learn more about why you would want a CRE agent if you are selling here.
5. Knowledge of the market and Commercial Real Estate
This has been mentioned throughout, but it is so vital when hiring a commercial real estate broker. Look for a broker that makes it a goal to know the commercial properties around the area. A residential agent and commercial agent have very different specialties and there are a lot of different rules and laws that each has to know. Choose a broker that specializes in the commercial sector so they will not only do things effectively, but also correctly.