If you are a seller or owner looking to lease your commercial property, there are many questions you should ask a commercial real estate broker. Commercial real estate has its own set of challenges and requires expertise different from residential real estate. It is essential to know how well the broker understands the commercial property trends and best practices in your geographical area. The following questions will help you determine whether or not the commercial real estate broker you are considering working with will best represent your interests.
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 time.
Most brokers have years of experience in selling properties as quickly as possible. They often have a keen eye for any red flags in your property that will dissuade potential buyers or lower your property value. Ask your broker if there are any quick repairs or changes that will get your space sold faster.
Experts 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 thePalm 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.
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.
Some real estate brokerages claim to be “full service” yet handle very few high-value commercial business properties. Make sure your broker is well versed in handling all the issues that come with leasing out high-value spaces, including commercial property insurance. Don’t settle for brokerages that use generic formulas for evaluations on drastically different types of properties. Whether you are leasing out apartment buildings, office spaces, or commercial spaces, find someone with the most expertise in this market.
An excellent commercial real estate broker will advise you on the best way to 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.
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