10 Reasons Why You Need a Commercial Real Estate Broker in Closing That Deal
In the field of commercial real estate, selling and buying can be touch-and-go. Much of the risk in commercial transactions lies in the selling and buying aspect versus holding the property. Therefore, it is common for clients and landlords alike to struggle when dealing with commercial transactions. Without good representation and legal framework, you could potentially deprive yourself of finding the right commercial property or losing valuable profits on the sale of your commercial property. That is why having a commercial real estate broker involved is essential in securing and closing the deal.
There is a need to have someone who is equipped to deliver professional services in terms of buying and selling commercial real estate. Here are ten (10) reasons why you need a commercial real estate broker in closing a deal.
- Marketing expertise. Commercial real estate brokers are knowledgeable in marketing structures and are good at attracting customers until closing a deal. Due to the fluctuating marketing conditions, a commercial real estate broker can create market opportunities for you and sift out the best-targeted customers. Working with professional brokers prevents you from being at the mercy of marketing pitfalls brought by interest fluctuations and rate hikes. Not having someone who possesses marketing expertise may be detrimental to your commercial property deal.
- Efficient negotiation. In closing a deal, there needs to be a vigor of negotiation. Commercial real estate brokers are efficient negotiators who can secure you a deal. They are bound to negotiate while also taking into excellent account your best interests. This means that they can establish better terms by maximizing the best options at your advantage.
- Truthful information. Commercial real estate brokers are duty-bound to disclosure. This is important, especially if you want to have enough information about the transaction history of your commercial property. Knowing the transaction history of an estate determines buyer credibility and property value. In addition, part of the information provided by commercial estate brokers is the inspection history of your property as well as its interest rates. These are information that a commercial real estate broker can fully disclose and is legally bound to provide their clients with.
- Access to financing connections. Most commercial real estate brokers have substantial social capital. They can give you access to direct links that can assist you financially to arrive at competitive rates and better deals. Not having the connection, a commercial real estate broker entails might ruin your deal before even closing one. Financing connections can also be of great help, especially if you want to give a safety net in the process of your commercial property transactions. This lessens your risk in the deal and might even elevate your interests.
- Extensive buyer connections. In addition to financing connections, commercial real estate brokers have extensive relationships with multiple qualified buyers that will help you close a deal. Small businesses and business owners can streamline your commercial real estate transaction to more opportunities. Access to more potential business owners may help you obtain better search criteria and listings that one commercial real estate broker can assist you with.
- Real estate license holders. Commercial real estate brokers are also credible with licenses. This means that they are legally permitted to manage real estate transactions and help you with the necessary legal documents in the process. As a result, you don't have to stress too much on the legal work and aspects of commercial real estate dealings.
- Better time management. Having the expertise of a commercial real estate broker, you can manage your business thoroughly and tend to other obligations. You wouldn't have to stress over the tedious task of facilitating and closing a deal in a commercial real estate transaction. Commercial estate brokers are highly qualified to organize and plan each step of the commercial transaction process and the legal documents involved.
- Saving money in the long run. More often than not, the value of your commercial property lies in working with a professional. Potential buyers are more likely to engage with commercial property transactions that professional commercial real estate brokers handle. This translates to saving more money in the long run as you do not have to worry about paying more commissions to generate more leads. In addition, commercial real estate brokers offer more cost-efficient services, especially in terms of business profits and cost-saving opportunities that can attract buyers.
- Commercial listing access. Listing platforms for commercial properties are very different and extremely more expensive from their residential counterpart. Commercial listings provide a higher level of significant search criteria that generate more leads to eventually closing a deal. The majority of Commercial listings are not accessible to the public, and commercial real estate brokers receive multiple inquires providing a list of potential buyers and tenants. Commercial real estate brokers are usually well-versed in managing and building these listings, which will significantly help you sell your property.
- Years of experience. There is a risk in engaging the services of brokers with little experience. In closing a deal, having a commercial real estate broker ensures valuable expertise. This translates to constituting good terms and leases that can get you secured in the long run. Experience in the industry is also essential, especially as leverage to potential buyers. Buyers would opt to secure a deal with commercial real estate brokers who are credible in facilitating the ins and outs of commercial real estate transactions.
For the foregoing reasons, closing a deal entails the need for commercial real estate brokers. They have the necessary skill set, expertise, and qualifications that can generate success in profitability. While other reasons are worth taking excellent account of, the ones included in this article are sufficient to have your commercial property sold like a pro. Hiring a commercial real estate broker in your future commercial transactions will feel like less work. You will be glad that you did!
Experience less hassle and a smoother transaction by putting your trust in an experienced commercial real estate broker. Do not subject your commercial property to marketing risks and pitfalls. Instead, hire a commercial real estate broker today. Then, you'll have no regrets in the long run.
Even after outlining all the information above, investing in CRE can still seem daunting. That’s why the Leveraged CRE Investment Team at Commercial Properties, Inc. is here to help you achieve your investment goals. Contact us at (480) 330-8897 or send us an email at firstname.lastname@example.org.
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Phill Tomlinson is a commercial real estate broker with Commercial Properties, Inc. (CPI) in Scottsdale, Arizona, and owner of the Leveraged CRE Investment Team specializing in investment sales and tenant/landlord representation in the Phoenix and Scottsdale submarkets. Phill applies over 21 years of experience in the Real Estate industry helping investors and owners maximize their returns.
Bookmark www.leveragedcre.com to learn more about the Commercial Real Estate market and keep informed of relevant real estate strategies designed to maximize your income property investment results. Connect and follow Phill on Social Media at sm.leveragedcre.com/smplatform. #LeveragedCRE