How to look for commercial real estate space

Online search

When looking for commercial real estate space for your company, you could start by searching “commercial real estate for lease” online. This specific search yields 19.6 million results on at the moment. The results range from craigslist, LoopNet and costar. Combine that with some links hiding key property information behind a paywall. The links are endless thereby making the process for searching for a commercial real estate feel overwhelming.

It would be much easier to delegate the task of locating your next business home to someone who has access to all hidden information, piles of market data and holds a standard license regulated by the state of Texas.

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This describes a commercial real estate agent. As a tenant or buyer, it will not cost you to use commercial real estate agents services. Landlords and sellers pay CRE forms directly as commission for completed transactions. The costs to pay a CRE broker are included in the lease and sales number we quote for you.

Commercial real estate agent’s job is to find the right space for you, advise you through purchase contracts, leases and title documents to ensure that you are completely satisfied in your location so that you can get back to running your business.

Commercial real estate agent’s obligation is to present you with the best of their abilities in an ethical and professional manner as they would to a family member. Their licenses require that. Commercial real estate agents are not on a salary within their firm;
in fact, they earn their living from commissions from closed deals. Commercial real estate agents are independent contractors and self-employed.

What agents will do for you

Below are some of the activities that commercial real estate agents do for you

• locate space based on your specific need to save you the time of searching for buildings and calling on signs.
• Tap market data collected to compare lease and sale rates to ensure that you are getting the best deal.
• Assist you in property tax protests
• Draft lease agreement for a building you own.
• Understanding your needs-best brokers take time to understand your company’s needs long before starting to show you the spaces.

As a part of the need analysis process commercial real estate agents learn about your business.
Based on your needs, they will help you determine the type of space and a general location that will help your company achieve its goal while not going beyond your budget.

Below are advantages of hiring a commercial real estate agent.

1. Save time.

This applies mostly to business owners who invariably wears too many hats. Many of the clients have enough to do in their day to day activities, to take time to compile and review listings, call listing agents, schedule and arrange property tours among other things.
The property owner saves a bundle of time by hiring a commercial real estate agent. The agent also helps to handle their sales and lease listings, field phone calls and emails from prospective tenants or agents, show the property, handle negotiations and facilitate a closing be it preparing and executing a lease document or managing an escrow through its process.

2. Save Money

For starters, commercial real estate agents, representing a buyer or tenants are paid a commission. they do not charge their buyers/tenants a fee and instead, they are paid a commission from the landlord/owners.
Commercial real estate agents save the clients money as they have the skills to negotiate the best deals on all parts of the transaction.

On their part, the property owners would have to pay a commission on the deal, however, many commercial property owners have other sources of income and not just owning property. This, therefore, means that they are often unaware of market trends and negotiating tactics that an experienced listing agent will be able to recognize during the negotiation process.
Commercial real estate agents are also knowledgeable on the smaller nuances in a lease that can save a landlord thousands of dollars over the leases’ life.


3. Listing Access

Most people are not aware that commercial real listing is not as centralized as they are in residential real estate. Due to the so many different property and transactions types, commercial real estates has several different listings platforms and just a few of them are open to the public.

In residential real estate, the case is different in residential transactions, buyers and sellers have access to all of the data stored in the MLS. You do not need the services of a residential agent to carry out searching for you can find all the information entirely on your own. This has forced commercial real estate agents to pay a lot of money to gain access to the most up to date and relevant information available. Therefore if you fail to hire a commercial real estate agent you will lack access to a majority of the market’s available properties fitting your requirements.

4.Market Knowledge and Specialization

Commercial real estates have a market knowledge that their clients both tenants/buyers and landlord/sellers don’t have. At the end of the day, it’s their job and like any other profession, they need to stay on top of the trends in their fields. The constant barrage of analysis carried out allows them to keep up with supply and demand cycles in their respective geographical regions. Due to market knowledge, it is possible inherently know if a listing is priced fairly or if a prospective tenant/buyer is worthwhile or not. Commercial agents are well learned on the latest market trends allowing the clients the peace of mind to know that the price is as intelligently and as up to date as possible.what was fair market six months ago has the potentiality of not being fair market today or in the recent future.

Regarding specialization, when looking for a commercial real estate agent, it is very important to look for an agent experienced in the nuances of the specific geographic market and the property type you are looking for.

Most commercial agents specialize in a certain sector of commercial real estate including, retail, industrial or office. If you choose a commercial real estate agent who specializes in Los Angeles office space when what you actually need is an industrial unit in Orange County, you might end up not getting the “ best cluck for your buck” as my high school economics teacher would put it. The agent will undoubtedly do a great job locating the property, negotiating the deal and facilitating the close, but it might not be the absolute best you can find.

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