How To Choose A Commercial Real Estate Broker
Whether you’re a seasoned investor or just breaking into the commercial real estate investing world, the best thing you can do to get the most out of your investment is to hire a commercial real estate broker. Commercial brokers have the experience, skills and market knowledge to ensure you’re making strategic, smart decisions when it comes to your commercial real estate investments. There are several brokers out in the market, so how do you narrow them down and choose one to trust with your valuable time and money? Our friends at Southland Commercial Real Estate in Pensacola, Florida recently published a blog post on how to choose a commercial real estate broker. Take a look at an excerpt from the article below, then click the button at the bottom of the page to view the full post.
Life is full of choices. One choice that many businesses and investors will one day face is the decision to list a property, find a new property or just get a professional opinion on your commercial or investment real estate needs. So, what should you look for when searching for a broker to act as your trusted Advisor?
Without a doubt the most important quality you should look for in a real estate broker is trustworthiness. It’s no secret that many Americans believe brokers are somewhere between used car salesmen and politicians on the scale of trustworthiness. While I believe that much of this stigma is due to a few bad apples spoiling the bunch, this reputation is unfortunately not completely without merit. The real estate broker you choose has a fiduciary responsibility to work in your best interest. Often times, what is best for a broker and what is best for the client are not aligned. The brokers that always put their clients first, even if it is to their own detriment, are the brokers you want to work with. So how do you know if you can trust your broker? My recommendation is to ask pointed questions when interviewing brokers, including examples of times when they had to put their best interests aside in favor of their clients. If a broker hesitates to answer, is caught off guard by the question, or doesn’t have any examples that is a big red flag! Also, ask for references from previous clients…