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Questions to Ask a Commercial or Industrial Real Estate Agent
For any real estate transaction involving the purchase, sale, lease or rental of a commercial or industrial property, it can be helpful to hire a professional real estate agent. Here are a few questions to ask to help ensure a smooth transaction.
How familiar are you with this area?
If you are planning to purchase or rent a commercial or industrial space in a particular community, an agent should be able to provide information on what buildings are available, their condition and their appraised value. For sellers or property owners, an agent will offer advice on market value and how to promote the property to prospective tenants. Ask how many warehouse or office space transactions they have handled in that area.
Are you licensed and do you have references?
Ask if the agent has a real estate license and if you could speak to satisfied customers who have dealt with the agent in the past. Be certain that who you're using is reputable and trustworthy.
What services do you provide?
The agent should be responsible for all negotiations pertaining to the property, as well as all the related paperwork and contingencies.
What is your fee and/or commission structure?
Most agents are compensated with a percentage of the sales price of a the property. However, some agents offer flat fees for their services.
Do you represent both landlords and tenants?
Some commercial real estate agents work with both tenants and landlords, which may influence them in steering buyers to office suites and warehouses owned by existing clients.
Why should I list my property with you?
Offer the agent an opportunity to sell themselves by providing details about their experience, and how they will go the extra mile for you.
National Association of Realtors
If you're looking to put a property on the market or trying to find one to purchase, you need a real estate broker. Find one near you from the many members of our real estate association.
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REAL-ESTATE-COMMERCIAL-AND-INDUSTRIAL IN/NEAR PORTLAND
There are many real estate professionals that deal with commercial property listings and office building spaces for a living. If you choose to work as a licensed agent in this field, you will likely make a higher income working in a larger metropolitan area. This is because the majority of commercial business spaces and office buildings are located in major cities. However, it is also an option to work as a commercial real estate agent in smaller towns. This can be a very exciting line of work for the right individuals. After all, you will get to handle an assortment of commercial developments, office space listings, and retail shop properties.
You typically need some initial training in order to work in the commercial real estate business. After all, you will need to acquire your real estate license. This will help you learn plenty about property rentals, building lease agreements, how properties are appraised, and terms or conditions that apply to mortgage loans. The company you work for may decide what commercial real estate listings you get to handle or manage. While you may need to assist one client with a small space or room rental for a store opening, you may also have to help another client with locating a large office building with a park view and plenty of land. The current real estate market may have an effect on what banks will lend to your clients.
If you get hired as a commercial real estate agent or broker, you can certainly expect to deal with a wide array of clients, investors, and business owners regularly.