Property owners who want to sell or lease their commercial property have a choice of either acting for themselves or hiring a real estate broker. Of course there are success stories of property owners selling or leasing their commercial property themselves, but there are definitely more success stories involving brokers. The reason for this is that effectively selling and leasing commercial real estate is a specialty that requires a particular level of expertise.
There are some questions I ask commercial property owners who decided not to hire a real estate broker. Did you have a price opinion, an evaluation or some other type of analysis prepared by a professional to ensure you priced the property competitively? What was your advertising and marketing plan for the property? Did you receive a sufficient number of inquiries from potential prospects? Did your negotiations go smoothly and did all parties communicate with one another? Many commercial property owners I have spoken with responded negatively about the experience of acting for themselves. So I can conclude that this experience is frustrating for most commercial property owners and hiring a real estate broker would have eliminated many of these frustrations.
The key to hiring a real estate broker to handle your commercial property is to make sure the person is a professional commercial real estate broker. The broker should have comprehensive experience and expertise with commercial and investment real estate. This professional gives you more than just marketing services, he/she can provide you with invaluable advice on local market conditions, current pricing, effective marketing strategy and insight during negotiations. He/she can also find creative ways to close a deal that you may not have considered and save your valuable time that is better spent on your business concerns.
