8 Questions for Your Commercial Real Estate Broker
Apr 16, 2019
Finding the right space for your commercial venture isn’t always easy; negotiating the best lease terms can be tougher still. That’s why it’s typically best to enlist the services of a real estate broker—one with specific experience in the commercial arena.
Not all commercial real estate brokers are created equal, and it’s worth doing some due diligence to ensure you select the right broker to meet your needs. As you interview potential candidates, use these questions to ensure a well-informed decision.
What to Ask Your Commercial Real Estate Broker
- What cities/neighborhoods/communities are you most familiar with?
Intimate knowledge of the local real estate market is critical—so don’t hesitate to ensure that the broker knows your desired area inside and out. You can follow up by asking them to name some of the projects/buildings they’ve worked on in the area.
- Where do you see this market headed right now?
Get a feel for their subject matter expertise—as well as their ability to communicate with you clearly and candidly—by simply asking them for the lay of the land.
- How long have you been a commercial real estate broker?
Simply put, how much experience does this broker have?
- Do you specialize in particular types of commercial real estate?
Some brokers may really favor office space, medical space, warehouse space, restaurants—you get the idea. It’s certainly helpful for you to know where your broker’s wheelhouse lies and to choose someone whose expertise lines up with your needs.
- Can you share some of your biggest success stories?
Again, get a feel for their track record and experience; a seasoned broker should be able to fill you in on some of their most ambitious and successful projects.
- Who would my point person be, and how would we communicate?
Always make sure you know who to contact and how to contact them any time an issue or a question arises.
- What makes your brokerage unique?
In other words, why should you pick this broker over others in the area? It’s illuminating to hear brokers give their personal elevator pitch.
- How much do your brokerage services cost?
Naturally, you’ll always want to ask about the bottom line. Don’t hesitate to get quotes from a few different brokers to make sure the rate you’re quoted is reasonable.
By asking these questions, you can feel more confident about choosing the right commercial real estate broker—and if you’re ready to interview Kuester CRE, we’re always happy to talk! Connect with us today to inquire about our services as a Carolina commercial real estate brokerage.
You can reach us at our toll-free number, 855-723-2500.Download Newsletter