5 Reasons Why You Need a Commercial Realtor

This topic that seems to come up a lot, as business owners typically pride themselves on being savvy negotiators or knowledgeable when it comes to the real estate on goings in their city. Somehow they feel they can save a buck or two without hiring a commercial estate broker. Here is a list I’ve compiled of reasons why working with a competent commercial broker in your market is important whether you are looking to move your business, lease space, purchase a building, or dive into investing.

1.      Time Savings

If you own or manage a business then chances are you are already a very busy person. Using the services of an agent that specializes in the type of product you are looking for will save you from having to source locations, make the calls/emails to obtain all the pertinent information, schedule tours, coordinate with space designers/contractors, review zoning by-laws, put together offers, and stay on top of a healthy negation. You have enough to do in your day! 

2.      Access

Anyone can search and find commercial listings on several listing websites but this is far from a comprehensive view of what is available. Most people are not aware that commercial listings are not as centralized as residential listings, only a small portion of commercial real estate are listed on MLS. This is a strong reason why, when you are looking to lease or purchase property having an agent that knows the landlords, property managers, and the movement of the market comes in handy. Commercial agents are constantly talking to their colleagues in the industry about what they are working on and what space is available to coming up on to the market. A big part of the job is networking and staying in touch with what some of the city’s major developers, business owners, and investors are doing. A good agent will get you access to way more product than what you can Google.

3.      Cost Savings

A big myth is that using a broker will cost you. The truth is that yes, many building owners will see you as an attractive tenant if you don’t have representation. This is because this can be an opportunity to take advantage of you. If you are represented by a commercial broker as a tenant or buyer, generally speaking we are paid our commissions from the landlord or owner. A more important note is that commercial agents have the skills and wherewithal to negotiate the best deal for their clients. Understanding what market rents are for that specific product in that specific area, when you can ask for major tenant fit-ups, free rent time and other inducements are all the job and expertise of a commercial agent. Not being aware or knowing when to exercise these options can cost you big.

4.      Specialization & Expertise

You are an expert in your business and commercial brokers work hard to be proficient in what they do. Nothing in life or in business can beat hands on experience. Completing hundreds of transactions can give agents the knowledge and confidence to handle any deal. Many agents end up specializing in a particular sector of commercial real estate, whether it be, office, industrial, or retail and the sub specialties within those. I think it’s important to not only hire a commercial realtor, but hire one that understands the requirements of the type of product you need. Leveraging their knowledge on finding the right product and structuring the deal in the right way is priceless. An agent with experience will understand any potential restrictions and problems with a space or property. A prudent agent will also always recommend at the appropriate time to engage good real estate lawyer, and we can refer you to the best of them.

5.      Integrated Services and Referral Network

This leads us into our last point. Commercial Realtors are generally well connected individuals as they deal with lots of different business owners every day. They also help set up lots of new businesses and facilitate the moving of established businesses. This can be a fantastic resource that you should leverage to accomplish your goals. Legal representatives, designers, architectural services, general contractors, moving companies, and lenders – you will need a referral from someone you trust.

Need help looking for commercial space?

Sarah Vandenbelt, Broker | [email protected]

Facilities Commercial Realty Inc., Brokerage | 613-723-8944 | www.facilitiescommercial.com