After taking the time to research the market, reviewing your finances, and examining what type of property you want to invest in; you have narrowed down your choices. Your investment list includes a few duplexes, an apartment building, and a commercial property. Now that due diligence is done, it’s time to choose the right property broker. Should you choose a commercial property broker or residential property broker?
You will learn a lot and get a feel of who to work with by meeting with a few local brokers, thus here are some considerations from realty experts at Ullian Realty when choosing the right broker.
A commercial property broker knows the laws and ins and outs of purchasing a commercial property. Types of commercial properties included in their sphere are office buildings, stores, hospitals, malls, and apartment buildings. If you are interested in purchasing one of these types of properties, it’s ideal to contact a commercial property broker. They help you determine the potential return on investment and have experience working with multi-investor situations.
A residential property broker also knows the laws and regulations for real estate but focus on residential real estate. They have knowledge of commercial properties, but they are not experts in commercial real estate. If you choose to buy a house, cabin, or duplex for rental income, then a residential property broker is an ideal fit. They know a lot about the surrounding area, including resources for potential buyers.
Similar to choosing the right investment property to purchase, take time to research area brokers, and interview a few before settling deciding. You may work with this person for months or even years, so choose a broker with whom you can develop a trusting business relationship.
At Ullian Realty, we’ve developed an eight-step process designed to produce a strategic relationship that balances client strengths, requirements, and goals, with our specialized expertise and knowledge in the marketplace. Our goal is to support clients through successful transactions and develop long-term relationships. Give us a call to learn more.
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