Ten (10) reasons to work with a commercial buyers agent

Website design By BotEap.comLooking to buy commercial real estate for your business or as an investment? The following are ten (10) reasons to seriously consider using a commercial real estate agent to represent your interests.

Website design By BotEap.com10. Provide an administrator for the purchase process.

Website design By BotEap.comA good Commercial Real Estate Agent will keep your property closing on track. For example, what is the status of the title commit? Are there any questions or concerns regarding the title compromise? Has the survey been ordered and completed? When does my viability period end? When does my security deposit become “hard”? Is the financing in place? Is an appraisal required and has it been completed? Have the necessary inspections been ordered and are they complete? Has a lawyer reviewed the purchase contract? Have all closing documents been reviewed?

Website design By BotEap.com9. References to experts who can help with the purchase of the property.

Website design By BotEap.comCommercial Agents know other real estate professionals who can bring their experience to the home buying process. Professionals such as attorneys who specialize in real estate, title companies, surveyors, engineers, architects, CPAs, insurance companies, building/property inspectors, environmental consultants, contractors, appraisers, etc.

Website design By BotEap.com8. Assist with due diligence.

Website design By BotEap.comAs part of the property buying process, an experienced Agent can assist the Buyer in ensuring that the appropriate items are investigated to ensure the property will work 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 help Buyer obtain the necessary documents and provide a checklist of these items, including information on zoning, jurisdictional requirements, floodplains, easements, covenants, conditions and restrictions, utilities, etc.

Website design By BotEap.com7. Identify and assist with assessing the condition of the property.

Website design By BotEap.comSales agents can help buyers identify the most important elements to consider as part of the buying and evaluation process, including a look at:

Website design By BotEap.com* Rent

* Physical condition

* Permitted uses

* Limitations on interior/exterior additions or renovations

* Adequacy of accesses and parking

* Opportunity to expand or lease excess space

Website design By BotEap.com6. Experience of working with other Buyers

Website design By BotEap.comBased on past experience, Agents may recommend other considerations to Buyer such as: “Consider purchasing additional square footage that will provide space for your business to grow and until the space is needed, the additional space can be leased and assistance provided.” to pay the monthly bills. .

Website design By BotEap.com5. It allows you to spend time with your business.

Website design By BotEap.comLet a commercial agent spend their time finding your property, which will allow you to spend your time conducting your business. Focus on his experience and let an agent help you by focusing on yours. Time is too precious a commodity to spend driving around looking for a property.

Website design By BotEap.com4. Experience in negotiating prices and terms.

Website design By BotEap.comThere is no other business professional with the experience and knowledge of a Commercial Agent to assist with purchase price and contract negotiations. Questions like: What is a reasonable and fair price for the property? Is this a good buy? What terms and conditions must be in the contract to ensure that my interests are protected? Am I required to obtain a certain amount of inspection and feasibility time as part of my purchase contract in order to better study the property and confirm that it meets my needs?

Website design By BotEap.com3. The cost for the Buyer is zero, zip, nothing.

Website design By BotEap.comThe Seller pays the Buyer’s Agent commission through a commission agreement between the two parties. The total cost is borne by the Seller.

Website design By BotEap.com2. Experience in the local market

Website design By BotEap.comNo one is going to know the local commercial real estate market as well as a Commercial Agent. The listing agent will not tell you if your property is listed above market rate and only an experienced agent can advise you on a location that makes sense for your particular type of business.

Website design By BotEap.com1. Buyer’s needs differ from Seller’s and they need representation to protect their own unique interests.

Website design By BotEap.comSeller or Owner will be represented by a Listing Broker and the fiduciary responsibility of this Broker is to Seller. The Texas Real Estate Commission (TREC) “Information Concerning Brokerage Services” states that “the broker who lists property for sale or lease is the agent for the owner.” It further states that “a listing broker may assist Buyers, but does not represent Buyer and must put Owner’s interests first.” Finally, it notes that “Buyer must not tell the Owner’s Agent anything that Buyer does not want Owner to know because the 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.