Tough decision: choosing the right agent for you

Finding a commercial real estate agent is easy. But choosing the right one for you is a bit more difficult.

We asked Oren Flemm, from Hodges Caulfield, for his tips to find the perfect agent for your commercial property dealings.

Reputation matters

First things first, he says it’s a given that agents should be professional and committed to impressing you.

“Before choosing your agent, make sure that you dig a little deeper – investigate their reputation,” Flemm says.

It’s a given that agents should be professional and committed to impressing you.

“Ask around to see how potential agents have been with previous clients. After all, it’s the best indicator of how they’re likely to service you.”

And Flemm recommends meeting agents face-to-face as the best way to get a sense if they are right for you.

“Try to get a sense of how you fit into the agent’s big picture. This will help you identify their strengths and, potentially, their limitations in selling your property,” he says.

“If your property seems out of step with the rest of their market, you might be better off elsewhere.”

Read more: Capital gains tax: what it means for commercial property

What to ask a real estate agent

When you are looking to sell, and you are meeting prospective agents, Flemm recommends asking them the following:

1.       What’s their experience? Questions should include how many years in the business? Specifically, how long they have worked in the area, how many properties they sold last year and what are their best skills?

2.       How many properties do they have listed? What properties have they recently sold? How many prospective buyers approach them each month?

3.       Do they have any buyers who missed out? Might they be interested in your property?

4.       What do they think your property is worth? How did they arrive at that figure?

5.       How much will you need to spend on advertising? What will you get for it?

6.       How long do they think it will it take to sell your property?

7.       How much commission do they charge?

Lastly, Flemm recommends contacting some of the agent’s past clients to find out what their experience was like.

Choosing an agent is an important decision – and not one to rush.

The above advice will give you a framework to help cut through the marketing talk and help you choose an agent you’re confident will deliver the service you expect.

Read more: Tips for negotiating your commercial property purchase