There is a world of difference between the quality of service that different commercial real estate brokerage firm’s offer. If this is your first time selecting a BROKER to facilitate a commercial real estate property investment, it is important to follow some time-tested guidelines for selecting a good brokerage firm. To form a successful client broker relationship, you should choose a broker that has the following characteristics and performs the services listed below.
- The commercial real estate broker should take a no nonsense approach to the consultation. Frankness should be followed by facts, truth and disclosure.
- The commercial real estate broker should always point out the positive aspects of a deal but mention possible worst-case scenarios as well.
- Friendship is not paramount and should be left at home. The relationship should focus on respect and trust between client and broker.
- The commercial real estate broker should specialize in the field of expertise in which the client needs assistance, not be a jack-of-all-trades.
- The commercial real estate broker should have the experience and training that qualifies them to provide advice about commercial real estate transactions.
As you interview a prospective commercial real estate broker, don’t be afraid to ask tough questions about his or her experience and training. Check out the firm’s reputation at the Better Business Bureau (BBB), and ask for a list of customer references to interview about the quality of customer service the firm offers. Following these guidelines will help you select a commercial real estate broker who has the experience, expertise, and insights you need to make a solid commercial real estate property investment.
