Commercial Greensboro realtors are licensed professionals who specialize in helping clients buy, sell, or lease properties intended for business use or investment purposes. Agents can be hired by property owners or by property users (tenants and buyers) and are valued for their experience and their leverage in negotiation. A commercial realtor could pull the price of buying a property in your favour, enough so that when you go to get a warehouse line of credit you are borrowing a reduced amount. And that is just one example of the benefits of a commercial realtor. In this article, we will go through some of the things you can expect to find from your agent.
The CCIM Designation
You might see “CCIM” after the name of your commercial real estate agent. CCIM stands for Certified Commercial Investment Member and agents that hold this designation are “recognized as leading experts in commercial investment real estate.” It’s a sign that your agent is highly experienced and is educated in financial and market analysis. According to the CCIM institute, “The CCIM designation represents proven expertise in financial, market, and investment analysis, in addition to negotiation.” These are considered the industry’s core competencies.
More than One Service
Commercial real estate agents aren’t confined to just buying or selling properties. Although, they do spend a large part of their time doing this – so they have to be good at it. Commercial real estate agents are considered experts at giving a listing presentation alongside all other elements of the selling and buying aspects of the role. Agents can work in a number of different areas including property development, leasing, and even property management. Many agents choose to specialize in a specific market like office spaces, retail spaces, or industrial spaces. This specialization allows them to focus on the unique challenges presented by each market. They do their research and preparation (as can you if you click here) based on what exactly you need–like offices or houses.
Complexity and Time Set Commercial Transactions Apart
While a typical residential real estate transaction usually gets wrapped up in under 45 days, commercial transactions can take months or even years to finalize. This is due to the strict laws and regulations surrounding building codes, zoning, and business licensing as well as the overall complexity in aligning all of the interests involved.
With these laws and regulations come complexity. When a business spends that much time and money on a property, they want to know that they’re making a worthwhile investment. That’s why a commercial real estate agent will often be asked for a significant amount of data and analysis on the area surrounding a commercial property. You can expect an agent to know the current trends in the local market and to be well-informed of future developments in the area.
Unique, Catered Service
Each business has unique needs. A large, big box corporation isn’t going to look for the same things that a mom and pop start-up will. That’s why you should expect your commercial real estate agent to have the knowledge and experience to cater to your specific needs. After all, if you are hiring a commercial real estate agent, you want to gain the advantage of their experience.
