If you’re looking to buy or sell commercial real estate in Boca Raton, FL, the last thing you want to do is sign on with an unprofessional agent who ends up costing you time and money. Here are some tips on how to choose the right commercial real estate broker in Boca Raton, FL so that your next business transaction goes as smoothly as possible.
Do your research
Commercial real estate brokers provide a wide range of services for their clients. From finding commercial real estate property management Boca Raton FL that meets your specific needs, to negotiating deals and contracts on your behalf. But if you don’t know how commercial real estate brokers are compensated for these services, choosing the right broker could be difficult.
The simplest option is an exclusive agency arrangement where the broker will get a commission if they help you find a suitable property and then represent you during negotiations with the seller. This type of agreement has disadvantages too however – like when the property isn’t properly managed by its owner or if it goes into foreclosure before settlement happens. The risk of this happening decreases when you have an exclusive listing agreement where only one broker can show your property and negotiate on your behalf.
Ask around
All commercial real estate brokers are not created equal. The right broker can make all the difference between a successful business and failure. That’s why it’s important to do your research before choosing a commercial real estate broker. Ask around and find out what other people have experienced with their commercial property management company. There are many reputable companies that offer excellent service at competitive prices, so be sure you’re getting what you’re paying for!
Check their credentials
Commercial real estate brokers have a variety of duties. For example, they negotiate deals on behalf of their clients and are tasked with finding and analyzing commercial real estate property management in Boca Raton FL. It’s important to know what credentials commercial real estate brokers have before deciding which one is right for you.
Commercial brokers typically need a bachelor’s degree as well as certification by an organization such as the National Association of Realtors (NAR) or their state government licensing board. They must also be members of a local or national trade association related to commercial real estate property management, such as NAIOP-FL.
Interview multiple brokers
1. What differentiates your company from others?
2. How long have you been working in commercial real estate? 3. What is your average client like?
4. Who will be my point of contact?
5. How would you describe your company’s culture?
6. Can I expect monthly updates on how my property is doing?
7. What are the steps I need to take to rent a commercial property and get it ready for tenants?
Make sure they understand your needs
Commercial real estate brokers are experts at finding properties for business owners to rent. The commercial property market is huge and has many facets that you need a broker for. From office space for your employees, retail storefronts for your products, or warehouse space if you manufacture products on-site. In order to find a broker who specializes in commercial properties that meet your needs it’s best to understand what type of property you’re looking for first. Here are some questions you’ll want answered before choosing a broker:
1) What size property do I need? 2) How long am I looking for? 3) What are my desired features? 4) Do I want an exclusive right of negotiation or not? 5) Am I looking at leasing or purchasing?
