The commercial real estate industry is vastly different from the residential real estate industry. According to Yahoo Finance, the commercial real estate market size is estimated to increase by $260.37 billion from 2022 to 2027. It’s necessary to find an agent or broker specifically qualified for commercial properties to help you through this expanding market. The first step is to find a reliable local commercial real estate agent who can work alongside you during this process. Here are a few tips on how to find the right broker for your needs.

Proactive Deal Sourcing

You’ll want to work with a professional who is easily able to identify commercial properties that suit your objectives, finances, and timeline. It's necessary to determine if a potential broker can support you within your first few meetings. Ensure they listen to your ideas and concerns rather than simply trying to push properties on you.

Good Communication Skills

The brokering of a commercial real estate deal can be very complicated. There are thousands of details to put into place, and they must be done on a specific timeline with careful precision regarding legal requirements. Throughout this process, your commercial real estate broker should be in close contact with you.

There will be a huge amount of information passed between the two of you, and your agent must be an excellent communicator. If you notice within the first few meetings with a potential broker that they are struggling to communicate clearly with you, consider reevaluating your options. Miscommunications can cost you a lot of money in commercial real estate.

Proven Experience

Requesting references during your first meeting will provide further information about the broker. Contact these references to get first-hand information concerning the treatment of previous clients and how successful their deals were. If the broker doesn’t have references or seems hesitant to provide this, proceed with caution.

Market Knowledge

You’re seeking the help of local commercial real estate agents because you do not have the market knowledge necessary to pull off a successful deal. It only makes sense that the broker you hire demonstrates this market knowledge. Use your best judgment to determine if your broker can support you properly throughout the process.

These are just a few things you should look for in a local commercial broker. If you need a local commercial real estate professional, contact Drifka Group today. Over 25 years of experience in the market allows us to streamline the process and support you in every aspect.