Ten (10) Reasons to Work With a Commercial Buyer’s Agent

Looking to purchase commercial real estate for your business or as an investment? The following are ten (10) reasons to strongly consider using a Commercial Real Estate Agent to represent your interests.

10. Provides a manager for the buying process.

A good Commercial Real Estate Agent will keep your property closing on track. For example – What is the status of the title commitment? Are there any questions or concerns with regard to the title commitment? Has the survey been ordered and completed? When is my feasibility period over? When does my earnest money go “hard”? Is the financing in place? Is an appraisal required and has it been completed? Have any necessary inspections been ordered and are they complete? Has an attorney reviewed the purchase contract? Have all of the closing documents been reviewed?

9. Referrals for experts who can assist with the property purchase.

Commercial Agents know other real estate professionals that can provide their expertise to the property purchase process. Professionals such as attorneys that specialize in real estate, title companies, surveyors, engineers, architects, CPA’s, insurance companies, building / property inspectors, environmental consultants, contractors, appraisers, etc.

8. Assist with due diligence.

As a part of the property purchase process, an experienced Agent can assist the Buyer in making sure that the appropriate items are researched to make sure that the property works for the Buyer’s needs. Due diligence is the pre purchase effort made to discover, and analyze information about the property under contract. Agents can assist the Buyer with obtaining the necessary documents and provide a checklist of these items including information regarding zoning, jurisdictional requirements, floodplain, easements, covenants, conditions and restrictions, utilities, etc.

7. Identify and assist with evaluating property conditions.

Commercial Agents can assist Buyers with identifying the most important items to be considered as a part of the purchase and evaluation process including a look at:

* Location

* Physical condition

* Allowable uses

* Limitations on interior / exterior additions or renovations

* Adequacy of access and parking

* Opportunity for expansion or leasing excess space

6. Experience from working with other Buyers

Based upon past experience, Agents can recommend other considerations to the Buyer such as – “Consider purchasing additional square footage which provides your business room to grow and until the space is needed the extra space can be leased and provide help with paying the monthly bills”.

5. Allows you to spend time with your business.

Let a Commercial Agent spend their time finding you property which allows you to spend time conducting your business. Focus on your expertise and let an Agent assist you by focusing on theirs. Time is too precious a commodity to be spent driving around looking for property.

4. Price and term negotiation expertise.

There is not another business professional with the experience and expertise that a Commercial Agent has to assist with purchase price and contract negotiations. Issues such as – What is a reasonable and fair price for the property? Is this a good buy? What terms and conditions should be in the contract to make sure that my interests are protected? Should I get some amount of inspection and feasibility time as a part of my contract for purchase so that I can better study the property and confirm that it meets my needs?

3. The cost to the Buyer is zero, zip, nada.

The Seller pays the Buyer’s Agent’s commission through a commission agreement between the two parties. The full cost is borne by the Seller.

2. Local Market Expertise

No one is going to know the local commercial real estate market as well as a Commercial Agent. The Listing Agent isn’t going to tell you if his/her property is listed above the market rate and only an experienced Agent can advise you with regard to the location making sense for your particular type of business.

1. Buyer’s needs differ from those of the Seller and they need representation to protect their own unique interests

The Seller or Owner will be represented by a Listing Broker and this Broker’s fiduciary responsibility is to the Seller. The Texas Real Estate Commission’s (TREC) “Information about Brokerage Services” states that “the Broker who lists the property for sale or lease is the Owner’s Agent”. It further states that, “a listing broker can assist the Buyers but does not represent the Buyer and must place the interests of the Owner first”. Finally it notes that “the Buyer should not tell the Owner’s Agent anything the Buyer would not want the Owner to know because an Owner’s Agent must disclose to the owner any material information known to the Agent. This is not a good situation for a Buyer to be in. Sellers have representation from their Listing Agents, Buyers need the same from a Commercial Buyer’s Agent.

Important Tips to Consider When Selecting a Real Estate Agent

The ample amount of online information regarding how to hire a real estate agent can be helpful for homebuyers and sellers, but finding the right one can still be a challenge. Professional agents should have the necessary skills and expertise to help find exactly what the client desires. These four qualities can clue in buyers and sellers that a real estate agent is a great choice.

Suggests Realistic Prices

When planning to sell a house, it is recommended to get listing presentations from several agencies. They will provide the market prices of comparable homes, as well as the amount of time it usually takes to sell similar properties. Working with professionals to ensure that a home is priced appropriately will make the process less time consuming and stressful.

Works Full Time

Some real estate agents connect home buyers with sellers as a part-time job; however, it is wise to choose one who works in the industry full time to get the best results. Such professionals are in a better position to provide accurate recommendations and tips as they have more experience and a deeper understanding of the industry. A full-time agent will likely spend more time scouting for a home on various listings or showing prospective buyers the house to ensure that the clients acquire or sell a property quickly and at the right price.

Charges an Appropriate Commission

In most states, the commission ranges between five and seven percent and is split between the selling and buying agents. Ask agents about commission rates when putting a home on the market or beginning a new home search. This is an ideal method to ensure that all parties understand the agreement. Also, be sure to ask about any offered rate rebates, as some companies actually pass on a percentage of the commission to the seller or buyer.

Has Experience in the Area

A buyer who is interested in purchasing a full-time residence should pick an expert who specializes in selling such properties in the area. On the other hand, people who are looking for investment properties are better off working with someone who has been facilitating such deals with other investors for years. It is also important to note that most professionals in this industry have multiple specialties.

Even if a candidate meets these four qualities, organize a face-to-face meeting with the home expert to get a full picture of his or her skills and expertise. Most professionals are more than happy to speak with potential customers to answer questions. Finding a real estate agent by following these guidelines will make the entire process of buying or selling a home far simpler.

10 Tips For Choosing a Real Estate Agent

Whether you are buying or selling a property, choosing a real estate agent may be the most important decision you make. Good real estate agents can save you a substantial amount of time and money. They can also ensure that the buying or selling process is an enjoyable and memorable experience. Here are some tips for choosing a real estate agent:

1. Ask Friends/Family for Referrals

Ask family and friends for their advice on local agents. This way you will be sure to find an agent with a good reputation.

2. Consider More than One Agency

There is an array of agents that will kill for your business. That is why you should interview as many agents as you can. Compare agents with regard to their knowledge of the area, experience and qualifications. Also, ask for references from previous clients.

3. Choose an Agent that Knows the Importance of Customer Care

While interviewing different agents you will be able to establish their level of customer care or how far they will go to satisfy the customer. Look at things like their attitude towards returning phone calls and their willingness to meet with you.

4. Choose an Agent that Handles Homes in Your Price Range

When you opt for an agent that deals with homes in your price range, you will be sure to end up with an agent that will give his or her best effort. Some agents deal only with high-end properties and are used to high commissions. They are more likely to attend to these properties first.

5. Choose an Agent that Respects Your Time Schedule

If you will not be able to view properties during office hours, you need to find an agent that is willing to do business after hours or over weekends.

6. Look for an Agent that You Can Communicate With

Communication is vital when buying or selling real estate. Make sure that you choose an agent that understands your needs and that communicates them well. You will be best off if you choose and agent that registers a high level of comfort with you or with whom you are compatible with.

7. Choose an Agent that Provides Multiple Services

It will be a bonus if you can find an agent that can handle the buying/selling process as well as other additional services like arranging property inspections or who can refer you to a trustworthy real estate attorney.

8. Choose an Agent That Can Negotiate

Negotiating skills is an essential quality of a good real estate agent. Make sure you choose and agent with impeccable and proven negotiating skills.

9. Choose an Agent with Lots of Resources

Ask agents where your property will be advertised. Make sure that the agency uses print advertising (newspaper/magazines) as well as other promotional material such as brochures. Also check if the agency makes use of the Internet for advertising their listings.

10. Follow Your Instinct

Choose an agent that makes you feel comfortable and whom you trust. You level of comfort and satisfaction will let you know if you’ve met the right agent.

Blogs – 5 Reasons Why All Real Estate Agents Must Blog

If there’s one thing that I continue to repeat to my Real Estate clients over and over and over, it is that blogging is one of the most effective ways to attract prospects to your Real Estate website, and you need to be doing it at least weekly.

Here are five reasons why all Real Estate Agents must blog:

Search engine optimization

Blogging helps your Real Estate website achieve a higher ranking on search engines. The key to search engine ranking is information-rich content. Blogging is the ideal format for publishing information on the Internet, and it’s really easy to update a blog. It’s just like writing an email only it’s to the whole world. Every Blog you post becomes its own web page adding yet another page of content on the web. The more content you have on your Real Estate website, the more you look like an information-rich website to the search engines.

Credibility

A blog helps to brand you as an expert in Real Estate. Blogs are the perfect place to talk about what you know, market updates, and Real Estate news and cost you practically nothing to post them. When you share your knowledge in a blog, you build the kind of trust that turns leads into clients for life. After a while, you will build up a huge inventory of postings which will be impressive, especially to the Generation X and Y home buyers.

Relationship Building

Blogs put a personal face on your Real Estate business. The personal nature of blogs makes them a powerful tool for building relationships with your clients and potential clients. There’s a lot of competition online and in Real Estate; a blog is one of the best ways to separate your business from the competition. Staying in front of these potential future clients is critical in staying in their hearts and minds when they are selling or purchasing a home.

Feedback

Your blog makes instant feedback possible. A blog is an ideal format for getting feedback from clients. Visitors can respond to your comments and link to your blog posts from their own websites and blogs. Hot topics can create a thread that engages dozens–or hundreds–of readers to post their replies. The replies will tell you a lot about what your customers want.

Up-to-date information

Blogs put information that is new and that helps you in a couple ways. First, it will give your clients and potential clients reason to come back to your site again and again. Also, the “spiders” that Google uses to crawl your site will reward you for the fresh and frequently updated content by giving you higher Search Engine rankings. Every time Google comes back to see “how you’re doing” and discovers that you and your site aren’t going to roll over and play dead after putting up your initial 8 page website, they will take note and give you an advantage over the other complacent website owners. Google is drawn to new content as a cat is drawn to catnip. Give Google all the catnip you can and reap the benefits!

Blogging helps you build the quality of relationships that can turn leads into clients for life. If you don’t have a blog, make launching your own blog one of your top priorities.

The SOCIAL Necessities Of A Real Estate Agent

While, each individual, has different needs, goals, and priorities, in terms of selecting the best real estate representation, possible, there are certain necessities, which are needed, and necessary, in the vast number of instances, and circumstances. I refer to these, as the SOCIAL necessities, for real estate agents, and after, more than a decade, as a Real Estate Licensed Salesperson, in the State of New York, have come, to strongly believe, these are relevant, needed, and necessary. With that in mind, this article will attempt to briefly consider, review, examine and discuss, using the mnemonic approach, what this means, and represents.

1. Service: Quality real estate representation must, begin, with a concerted emphasis, on providing the finest level of genuine service, focused on the best interests of his clients!

2. Optimize: Why should anyone use, any agent, until/ unless, he is ready, willing, and able, to optimize, the possibilities, for his customers, and clients? An agent earns his keep, by helping people, effectively, and in the best possible way!

3. Caring; creative; character: Quality representation must emphasize quality, caring, and dedication, to one’s clients! He must be creative, in order to bring about, the best possible, meeting, of the minds! The individual must, consistently, demonstrate, the essential quality of character, to go beyond, the norm, and serve others, with fairness, and responsibility!

4. Integrity; imagination: How can anyone make a difference, for the better, until/ unless, he maintains absolute integrity? Not only is this true, for real estate representation, but is also mandated by state laws, and the Code of Ethics! In addition, choose someone, with the imagination, to think, outside – the – box, and focus on the best way, to market your specific property, in order to get the finest results!

5. Attention; attitude; aptitude: One must pay keen attention to all the possibilities, in order to know, the best way to proceed! This must be combined with a true, positive, can – do, attitude, and a relevant, well – developed, skill – set, and meaningful aptitude, focused on, getting – it – done!

6. Learn; listen: Quality representatives, always, begin the process, by carefully listening to those, they serve and represent, and learning from every conversation and experience! Combining these, one can consider, how to best proceed, forward, in the most acceptable, relevant, service – oriented manner!

Find a real estate agent, with the SOCIAL necessities. How will this individual, best, serve, your needs, goals, and priorities?