If you’re buying a commercial property, chances are you’ve already been through the process of finding one. But unless you’re a seasoned investor, you probably don’t know how to navigate the buying process. That’s where your buyer’s agent comes in. You can ensure an excellent commercial property buyers agent will put out all the stops to help you find the best. If you are baffled and hesitant about hiring one, you can read the following benefits.
- You will get access to exclusive listings: Buyer’s agents can offer access to exclusive listings, showing you properties that aren’t on the market yet. That way, you won’t be competing against hundreds of other potential buyers and will have an early window into whether or not a property is worth your time. Buying agent services also include auction advice, so if there are any upcoming auctions in your area (or anywhere else), your buyer’s agent can ensure that you get notified about them and know precisely when they’re taking place.
- You will get unbiased advice: A buyer’s agent is not the seller’s agent. In other words, a buyer’s agent has no vested interest in the outcome of your deal and, therefore, can give you unbiased advice solely focused on finding the best property for you. A real estate agent representing both parties in a transaction will usually side with the party they are working for—and that’s fine if you want to work with someone who will advocate for their interests above yours (though be wary: there may be legal consequences). But hire a buyer’s agent if you want someone to advocate for your interests!
- You will have time to focus on your business: You’re busy running your business and don’t want to spend much time looking for properties. As a commercial real estate investor, you require someone to do the legwork for you so you can focus on growing your business.
- You will have someone negotiating on your behalf: When you hire a buyer’s agent, they will negotiate. A buyer’s agent has access to the same information as a listing agent and can use their skills, strategies, and tactics to get you the best deal possible. It is essential because each commercial property requires unique negotiation skills due to its unique attributes: location, number of units, size, etc. For example, certain negotiation principles apply when buying an office building but may not work for retail space or industrial property. A commercial real estate expert will be able to help you navigate these challenges so that you end up with the best possible outcome for your specific needs!
- You will understand the buying process: There are many steps to buying or selling a commercial property, and each is important. If you’re unfamiliar with the process, it can be easy to miss out on opportunities or make costly mistakes. A buyer’s agent will help you avoid these pitfalls by guiding you through the process. In addition to protecting your interests as a buyer, having a professional working for you can significantly reduce the time involved in finding and closing your commercial property. Many people feel overwhelmed buying at a new business location—and understandably so! There are many decisions to make: Should I buy new or used? How ample should my space be? What condition should it be in? And how much money do I want/need? These questions become easier if someone helps guide them from start to finish with information about local real estate trends and advice based on your needs as an entrepreneur-to-be.
This article has examined the benefits of hiring a commercial property buyer’s agent. Indeed, you must have understood the buying process and gained some insights into what it means to be represented by a buyer’s agent.