If you are a seller or owner looking to lease your commercial property, there are many questions you can ask a commercial real estate broker. It is important to know how well the broker will best represent your interests.
Here are 10 Questions to Ask Your Commercial Real Estate Broker
Five Questions for Sellers to Ask:
- What is the recommended price for my property?
- Are you familiar with the market for this kind of property, including naming a few transactions that are similar that you have completed?
- How will you advertise the property for sale?
- How does the listing, to contract, to closing process work?
- How long do you think it will take to find a qualified buyer and then close the sale?
A competent broker will have a successful sales record for the area, specifically in like kind property sales, and know if there are parties interested in your type of property. The broker should be honest about your chances of selling at the highest and best price, in the shortest period of time.
Most brokers will know where and how to advertise your property online and in publications. The size, asking price and location of the property will define the market and the advertising program.
You may want to sell your commercial property in the Palm Bay, Melbourne, and Titusville market areas of Brevard County, Florida, but it is also necessary to advertise outside of the area. People all over the world are interested in investing in Florida commercial real estate and a successful broker will know how to reach them.
Five Questions for Property Owners Leasing Commercial Space:
- What other locations in this area does the broker represent, and are there any conflicts of interest?
- Do you have marketing and demographic information on the area?
- How do you plan to advertise the property for lease?
- What pricing and lease terms are typical for this type of property to achieve the highest lease rate in the shortest period of time?
- Can you manage the property, including collecting rents and handling repairs, insurance, and refinancing?
Many commercial real estate brokers are also property managers who collect rents and contract with other services to maintain the buildings. You can learn about their subcontractors and even get references for the broker and contractors.
An excellent commercial real estate broker will advise you on the best way sell or market your property. A knowledgeable broker can also advise you on commercial real estate investments in the area.
Contact The Ullian Realty Corporation in Melbourne, Florida for information on property sales and leasing for all of the Palm Bay, Melbourne, and Titusville market areas of Brevard County. We will advise you on the best real estate process for your commercial real estate needs.