Commercial Real Estate 101: 4 Ways A Broker Can Help

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A commercial real estate broker is a valuable asset to have on your team. Whether you are purchasing an office space for your business or you are looking to expand your portfolio, a commercial real estate broker is very beneficial. Aside from handling paperwork and red tape, commercial real estate brokers can help you in these four ways:

1. Offer Valuable Insight About The Property

A commercial broker often works alongside other real estate professionals such as architects and designers. This might not sound very helpful, but it can be incredibly valuable as it will give the broker—and you—insight about the property. For example, perhaps an old church you absolutely love can be converted into a warehouse. On the other side, maybe the warehouse you're looking at cannot handle significant renovations.

Brokers can also give you other valuable insight about the property, such as whether it's worth putting a significant amount of money into the building for repairs and renovations. They can also look at your budget objectively, which will ensure you purchase a building that will yield the most value.

2. Market Knowledge

Another way a broker can help is by knowing the market. A good commercial broker will know everything about the property, including demographics and traffic counts. They will also know details about past owners, past businesses, and other data that will help you choose the perfect building. It might be a small benefit, but it can be very helpful as it will ensure that your business is in front of the right eyes—which will help you succeed and save money.

3. Access To More Properties

While you can certainly hunt for commercial properties alone, it is often better to have a professional on your side. There are often properties for sale or lease that aren't listed on commercial real estate websites or in classified ads, which means you could be missing out on a great property if you go it alone. By hiring a professional broker, you'll have access to a lot more properties. While looking at more properties might seem intimidating, it's often better to see many as you'll have a higher chance of finding something you love that is within your budget.

4. Negotiating

Finally, a commercial real estate broker can handle all the negotiations for you. While you could take this task on yourself, you probably won't yield the savings you are after—unless you are experienced. Not only does a broker help you get a good deal, but it also saves you time and frustration as you won't have to spend countless hours negotiating with sellers or their brokers.

As you can see, there are many good reasons to consider hiring a commercial real estate broker. If you are interested in learning more or you want to see some properties, contact a local broker in your area, such as NAI Capital.