If you own a small business or if you belong to a property investors group, the biggest investment you will surely make is buying commercial real estate. Because of this, it is necessary to choose an experienced, qualified and professional Long island real estate agent. Investing in a good agent or broker could save you millions of dollars. You will also be able to negotiate tenant improvements. If you get a bad agent, you may overspend millions for a property or if not, you will spend a lot of money if you did not have quick and professional negotiations. Here are tips in choosing a commercial real estate agent in Long Island.
Ask family, friends, neighbors, colleagues and acquaintances who bought commercial properties in the past for brokers they can suggest. Word of mouth is a great form of advertisement as these people were able to work with them personally.
Look for websites on commercial real estate for the kind of properties you are interested in. The parameters you may set include the area, square footage range, property type, building size and rent so that you can get personal results. Call up the listing brokers who represent the real estate properties you are interested in. Check websites for the area brokers in your locality who focus on the kind of property you like.
After you have the names of Long island real estate agents, choose just a few of them you wish to work with. Ask them questions such as the number of transactions they completed, if they belong to a bigger team or they work alone, their notion of the current market, their thoughts on whether your expectations are doable or not and if they represent the buyer as well as the seller. Also inquire the length of time for you to find what you are looking for, the number of client they are currently assisting and the commission they charge.
Ask each broker you are interested in for his personal information, curriculum vitae and resume. Also inquire for their professional references which include a couple of his bosses and his past and present clients.
To check if the commercial real estate agent in Long Island you prefer is really licensed, go to the Department of Commerce or the licensing board of your state. Always work with a professional so that you shall not have any regrets. Remember that you will choose a real estate agent to represent you in a deal that is worth millions of dollars; thus, you should really scrutinize your agent and see that he is very much qualified to be your agent.
These are the tips in selecting a Long island real estate agent.
If you buy a long island real estate property, you should know its value so that the price being quoted is not above its worth.