How should you choose the best commercial real estate agent for your investment opportunities?
Commercial real estate has proven to be one of the soundest investment opportunities to choose from. Whether you’re interested in supplementing your income or building a portfolio big enough and varied enough to become your sole source of income, the options are almost endless. If you truly want to be successful, then it’s imperative you enlist the services of a commercial real estate agent whose job it is to assist you in locating available properties, negotiating deals, and navigating the industry. Since this is your livelihood, it’s important you understand how to choose a trustworthy, effective agent.
Research the Company and Commercial Real Estate Agent
Your first step into successful commercial real estate investing is to research each potential company you’re considering. You may want to start off by looking through the company’s history, reading their online About page, looking at each agent’s bio, checking with the Better Business Bureau, etc. If you get an overall good feeling right away, that’s a great sign.
Experts in Their Field
It should go without saying that any commercial real estate brokers you consider should be experts in their field. This basically comes down to knowledge of the commercial real estate market, which includes being aware of specific trends, keeping up to date on which types of properties are getting the best return on investment, and other such factors. They should easily be able to answer all of your questions related to commercial real estate.
Understanding Your Needs
Commercial real estate agents should always be able to understand your needs and how best for you to achieve your goals. If you’re interested in certain types of properties such as hotels, motels, or apartment buildings, for example, they should be able to develop a detailed yet concise plan on how to help you succeed. Of course, they should be able to offer you advice based on your needs.
In addition to learning about a commercial real estate professional’s history and experience, it’s also important you look at their public character. Find out how they’re perceived by others. While this can start with a look into the Better Business Bureau to see if they’re in good standing and if any complaints have been filed or how they handled such complaints, you can also check out reviews and testimonials by their clients.
Years of Experience
When new investors are just starting out, they often seem to think that any broker with a real estate license will be able to serve them well. While a license is obviously necessary, it takes years to develop extensive market knowledge and skills that will allow a broker to analyze things such as return on investment, cap rates, net operating income, and other related commercial real estate needs.
While there’s no minimum number of years it takes to become a successful commercial real estate agent, they should at least have several years under their belt, which will be reflected in their past real estate dealings.
Only Accept Full-Timer Agents
Commercial real estate brokerage takes a lot of time and dedication from everyone involved. Handling the intricacies of commercial real estate for sale cannot be done on a part-time basis, even though many brokers will attempt to do exactly that. By only concentrating on brokers who work on commercial real estate full-time, you’ll be sure to get someone who will always be working toward your goals.
Choose a Commercial Real Estate Agent who Will Return Your Calls
No matter the size of your portfolio, you’ll be putting a lot of time and effort into your commercial properties to help ensure their success. To do so, your real estate agent should always be attentive to your needs. While it’s true they have other clients, you should be confident that they will return your calls or emails in a satisfactory amount of time. If they don’t, this is a big indicator that they’re not looking out for your best interests.
Contact Anthony Maccaroni for Commercial Real Estate Investing Opportunities
Working with a trustworthy, effective commercial real estate agent will help you build a financially secure future. If you have any questions about hotel investing, motel investing, or other types of commercial real estate opportunities, Anthony Maccaroni can assist with building your portfolio. If you have any questions about a commercial property in Pinellas County, FL or need our assistance in other ways, reach out by calling (727) 641-0271 today to schedule a free consultation and see our featured properties.