I want to purchase a commercial real estate property, preferably a retail or office property. How do I find a good agent to help me out since I'm a complete novice? Specifically, what are some good screening questions I should ask him/her to make sure they know what they're doing- beyond just the standard "how long have you been doing this" kind of stuff?
2007-03-20 02:40:54 · 7 answers · asked by the screaming frog 3 in Business & Finance ➔ Renting & Real Estate
Go with a brokerage that specialises in CRE such as C.B. Richrad Ellis.....funny thing about CRE is that mist inventory is rarely advertised in traditional medium but a specilaized CRE agent will know who is selling and will help you determine if the price is too high. There are certain things to look out for when analysing income-producing proeprty that are unique to CRE: 1) Strength of net cash flow 2) Cap rates 3) NPV (net present value) 4) Character of bldg. A good CRE agent will know about these factors.
2007-03-20 03:32:42 · answer #1 · answered by boston857 5 · 1⤊ 0⤋
You have some pretty good answers here; I would second the advice of getting a personal recommendation. You could also just look up some commercial real estate agents in your area and start comparing. I don't know where you're located, but if you're in the North East/Tri-State area, I would look up Mack-Cali Realty. They have some great properties around New Jersey and New York and a few other states. https://www.mack-cali.com/real-estate-properties/commercial-office
2016-03-09 13:47:22 · answer #2 · answered by Carl 2 · 0⤊ 0⤋
It's doubtful if you're shopping a business estate that you're going to hire out, a business estate you are going to run your possess trade out of or a biz op (trade possibility). If it is a biz op, sure, it's average to get monetary information in advance if there's a franchise worried & you are going to want franchise approval to take over. This & financing may also be the most important hurdles. Commerical truly property & the dealers focusing on it are unique breed than residential truly property & dealers. Your peers, even though having well intentions, will not be good versed or skilled within the business truly property gig. Nothing unethical. Bear in brain, the vendor will probably be offering you with ample monetary knowledge to fill a three ring binder: reproduction of hire, P&L, stability sheet, targeted stock, targeted asset record, francise contract & royalties, and so forth. They have plenty at stake & desire to insure any one enthusiastic about tying up their funding for 60 - ninety days or longer is satisfactorily certified financially and in a position to take action, as a substitute than a few man off the road that "consistently desired to possess a X trade? . Do ya suppose I would get an SBA mortgage?" and has NO CLUE as to walking a trade.
2016-09-05 09:25:29 · answer #3 · answered by ? 4 · 0⤊ 0⤋
I can't answer specifically for commercial. But generally speaking:
You'll want to know what, if any, fees there are to you. Some 'Buyer's Agents' charge a fee to the buyer.
You'll also want to know what their search methods are for finding available real estate. For instance, do they search with in their own listings, do they search "for sale by owner"... etc.
Other than that, ask around. Go to other businesses in the area you are looking to purchase and get their opinions.
GL
2007-03-20 02:56:36 · answer #4 · answered by ~*BS~MRA~Girl*~ 2 · 0⤊ 0⤋
You can find good a good commercial real estate agent from lending universe inc.Here you get 15597 real estate agent.For know more visit:www.lendinguniverse.com
2014-05-18 12:59:12 · answer #5 · answered by Anonymous · 1⤊ 0⤋
word of mouth is the best
you can talk to friends or relatives who have bought property and ask them
or you can look around and see what properties are for sale or have recently been bought call the new owners and ask them about their real estate agency
2007-03-20 02:51:30 · answer #6 · answered by elite_women_rule_the_rock 6 · 0⤊ 0⤋
internet,internet, internet! Thank goodness for the internet it allows all businesses to compete for your business including commercial real estate... my suggestion would be type in "city name commercial real estate" and see what comes up.. when i search in my area for real estate this site comes up http://www.barryloomis.com/
He has tons of information and he would be worth contacting, as you see he also specializes in one area.. you want to look for the same thing but of course for your area.. if they work in commercial real estate they will have it listed on their site.. you can make a list of ones you found and start calling..
a web site says a lot about a realtor..the example above has tons of information, he spent a lot of time into it which tells me a lot about him as a realtor...
hope all this helps! :)
2007-03-20 08:29:42 · answer #7 · answered by Pure Genius 3 · 0⤊ 0⤋