If you're looking to begin investing in property or need to find office space for your business, you might be well advised to seek out a commercial real estate agent. These brokers can help their clients both sell and purchase spaces, cutting through the confusion and providing professional help where it is most needed. These professionals can list the property, have it inspected, give their opinion on value, and do much more as a service to the client. While there is nothing preventing you from doing all of this on your own, it can get overwhelming when you don't know the market inside and out. Here is a look at the position.
As part of his or her job, the commercial real estate agent will perform many of the same duties as a professional working in the residential sector. Some professionals will actually float back and forth between the two sectors and do so quite profitably. On the other hand, it is probably more common to specialize in one area or the other. While the principle duties of listing, showing, and managing remain roughly the same, the actual knowledge needed can vary quite a bit. Selling to and for businesspeople is much different than selling to and for private homeowners and families.
Listing the Property
The initial step in selling an office building, warehouse, or any other type of property in this sector is to list it for sale in an appropriate place. Where this is will differ from place to place and it will depend largely on the strategy of the commercial real estate agent. Some may prefer to go with well-known local magazines devoted to these listings. Others use the local newspaper and still others will focus primarily on the internet. Often, a mixture of all three (or more) will be used in an attempt to get the listing in front of as many eyeballs as possible.
Selling a piece of property sometimes requires more than just putting a listing in a public space. A good commercial real estate agent won't stop there. Their job is to sell the property. In order to get the right price for their client, they need to make sure the right buyers hear the message. This can mean using technology (such as virtual online tours), a multitude of photographs showing the property in its best light, and using other advertising strategies that have been proven to work. Of course, the broker has to be careful with their budget. Too much marketing expenditure could cut into potential commissions.