What To Look For and Expect from a Professional

The real estate world is complicated and expanding. Both a Landlord and a Tenant need the services of a good professional REALTOR. It is important to seek the advice of a REALTOR that actually practices in the field you are in need of. Unfortunately, licensure to practice real estate is a single license…a very general qualification, if you will. The person who did a great job helping you find a house, would not necessarily be the best choice to help you look for a business location. The very fact that the agent did a good job on the house deal should tell you right away that they specialize in homes.

The Broker that understands commercial leasing fully has little time left or the knowledge needed to even sell his own home. Professional commercial Brokers spend much of their time tracking locations that are vacant, about to become vacant, and new construction. They study the market on a daily basis evaluating official traffic counts, sales revenues, rent and term trends in their market, personal demographics of specific sub-markets, governmental procedures for occupancy, and many more intricacies of commercial real estate and leasing.

Look for a company or Broker that asks you lots of questions about the basics of your business. Simple as it might seem, the Broker will perform best when they really know what you need. Retail Tenants should introduce the Broker to the product type and target consumer you intend to penetrate and market. Practicing this simple rule is much more efficient and effective than blindly looking at spaces available, then picking one that looks good to you. A great looking location that is too far and too difficult for the end consumer to arrive at might just be a catastrophic mistake. For instance, the ideal location may have been the third or fourth choice of the Tenant because there the target consumer base is much larger or qualified.

Many very successful restaurant chains have an actual location ‘check list’. The public might indeed think that a location on Main St. would surely be the best place for this restaurant. However, professionals know that unless a location ‘scores’ a certain point level on their check list, the restaurant will not succeed or meet their sales objectives. These check lists include evaluation of things like racial demographics, average age, income level, education level and marital status of the people living within 1, 3, and 5 miles of the location…all this often before they get into a car to drive over and look. If those numbers don’t measure up, they don’t even leave the office.

Now, not every Tenant will have or even want all that information, but a good commercial real estate Broker has it and can draw conclusions from it to help a Tenant select a location that is right for their business.

Learn more about the role and effectiveness of a professional commercial real estate broker. Visit CommercialOneBrokers.com before you choose a location for your business.

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