Before beginning your search for a rental space, it’d be best to carefully think about the property type and location that will suit your investment venture. That way, you get to set other priorities and decide the maximum amount to pay for the property.
Choosing the best commercial real estate agents for your investment needs is a vital decision you’ll need to make when buying, leasing, subleasing, renewing, or selling commercial real estate properties.
The Georgia real estate market is filled with different CRE companies. Thus, you’ll need to carefully find the right company to work with according to your needs. Once your commercial real estate needs are pretty much straightforward, properties abound in the market, and you can comfortably negotiate lease terms with the owner, you can go ahead and shop for the property on your own.
Otherwise, you need to find commercial real estate agents near me representing both tenants and property owners to ensure you get the best from both sides.
The following are what to look out for in a CRE agent and ways to find the best one. You can also check out https://timstoutteam.com/commercial-real-estate-agents/ for more information on hiring commercial real estate agents.
What to Look Out for in a CRE Agent
You’ll need a great deal of common sense, personal and professional connections, and conduct some research when looking for a commercial real estate agent. However, look out for the following:
Commercial Real Estate Expertise
Ensure the real estate agent you hire is highly experienced in helping investors buy commercial rental properties and help tenants find retail and office spaces besides working with apartments and condos.
Ensure that the commercial lease real estate agent has the best tools and ample market information to represent you adequately.
Landlord/Tenant Representation Experience
One thing you should check while looking for a commercial real estate agent works consistently with both tenants and property owners.
Suppose you wish to invest in commercial real estate; a CRE agent with sufficient landlord/tenant representation experience will know where to look for the exact property type you want and advise you on the tenants that will best suit the building.
The commercial real estate agent will also help you get renters for the building easily, seeing as they also work with tenants.
A great commercial broker possesses the in-depth market knowledge and skills necessary for analyzing things like net operating income (NOI), cap rates, and return on investment (ROI). Therefore, ensure to ask your agent how long they’ve been in business.
An Established Agency in Your Preferred Location
When choosing commercial real estate agents in Georgia, ensure the one you finally pick has been in the CRE sector long enough to determine how agents and property owners work and how deals are done.
Working with an established real estate agency in your preferred location ensures that the agency will have enough financial stability that will enable them to pursue your best interest first rather than fill their pockets.
Real estate agents are often paid according to the sale amount or rent. A great commercial real estate broker who isn’t hungry can wait for a better deal that will suit your preference more instead of jumping on any available deal just to get their cut.
Commercial Real Estate Market Knowledge
Unlike residential real estate markets, commercial real estate is a bit different and more complex. Thus, you’ll need to work with an expert in CRE in Georgia.
Suppose you wish to look for a place for your business; working with an experienced CRE broker will ensure you avoid making so many rookie mistakes that unrepresented investors and renters make.
The lessee’s or buyer’s needs also vary between markets. While an investor might look for a property in a great location that offers the most exposure and room to grow, a renter will probably consider a place that’s close to their work.
Commercial real estate agents’ eyes are always on the market to discover where to find great deals. They’ll also have insider knowledge on properties that haven’t been listed on the market.
How to Find a CRE Agent
You’ll want to find a commercial real estate agent specializing in the exact property type you wish to buy. For instance, suppose you intend to open a storefront; you’ll want a real estate agent specializing in retail properties. If you’re going to rent an office space, find an experienced broker in that area.
You’ll want a commercial real estate agent that’s knowledgeable in the location you want. Ask the agent to describe the recent transactions the agent has done on the type of property and location you prefer. Don’t forget to ask for references and follow up on their past clients.
You can also ask other commercial tenants in your neighborhood for the lead on real estate agents. Ask them if they’ve engaged a realtor before and if they can recommend the best one.
You can also narrow down your inquiry by meeting tenants with businesses similar to yours, especially in a big city where agents might have divided the real estate market into niches. Some brokers specialize in food stores, restaurants, office space, etcetera.
For instance, suppose you want to operate an art gallery, it’d be best to work with a commercial real estate agent familiar with the space suitable for a gallery. In some cities, some commercial real estate agents may concentrate on specific neighborhoods.
Suppose you want to stay in a specific area to take advantage of traffic patterns, expected rents, and adjoining businesses; it’d be best to find agents already experienced in that kind of deal in the community.
Like we said earlier, try to get references from different business people and tenants; you might be surprised to discover that the same name(s) might keep popping up on people’s lists. Once you’ve identified two or more promising names, go ahead to interview them and pick one agent.
Final Thoughts
Suppose you wish to buy or rent a CRE property; you’ll need commercial real estate agents in Georgia. With these factors to check while looking for a commercial real estate agent, you’re guaranteed to make the best choice. You can also work with Tim Stout and Associates, a leading CRE agent in Georgia, to help you purchase the best commercial property. Contact them today!
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