Purchasing a new commercial property is unlike any other real estate transaction. From zoning laws to ADA compliance and exposure to foot traffic, many concerns apply in a commercial setting that you wouldn’t need to consider when buying a house. That expertise is why it pays to work with a commercial real estate agent. If this is your first time hiring a commercial agent or broker, the following guide will point you in the right direction.

5 Characteristics of a Reliable Commercial Real Estate Agent

1. Local Expertise

The right real estate agent should be familiar with the area—they need to know local business owners and contractors to apprehend listings as soon as they go live and secure a reliable appraisal. They also need to monitor demographic and market trends closely to reveal investment properties with the most potential. 

It might sound like an exaggeration, but an agent should know the area’s neighborhoods like the back of their hand. Coding regulations, property taxes, foot traffic, parking accessibility, and local legislation determine how well your business will operate in a new location.

2. Commitment 

Purchasing a property is one of the biggest investments you’ll make. To ensure you get the most value, work with an agent who’s trustworthy and committed to serving your needs. 

A real estate agent needs to demonstrate their commitment to you by answering the phone and accommodating your schedule. If it’s easy to reach an agent, it’s a good sign they’re invested in your case.

3. Business Savvy 

A lot of agents are charismatic but don’t have the negotiation skills to advocate on your behalf. Ask the agent what terms they plan to negotiate—besides getting the bottom price, you might be able to also negotiate the closing date, settlement period, repairs, and other terms. Make sure your agent is comfortable discussing these points and more.

4. Experience

Look for someone with a few years of experience working on commercial real estate purchases. These transactions are more complicated and expensive compared to residential real estate, so even if someone has sold houses before, the experience won’t translate.

Work with someone who’s knowledgeable about the process and can guide you through each step of a commercial transaction.

5. Professional References

Ask every agent you meet with for a list of their references and follow up with those individuals. Talk to former customers about the agent’s reliability, involvement after the sale, and how satisfied they were with their purchase. Most experienced agents will already have a list of contacts on hand. 

If you’re looking for a commercial real estate agent in Dayton, OH, northern Cincinnati, or the surrounding areas, Crest Commercial Realty provides the superior service your company needs. All their agents have years of experience and specialize in commercial properties; they’ll provide valuable insights into every factor that could impact your business. Visit their website to learn more about their listed properties. To interview an agent today, call (937) 222-1600.