Commercial Real Estate Horror Story
Brokers take the fright out of purchasing property
Halloween is quickly approaching and most people are starting to purchase candy and carve pumpkins. Those of us in the commercial real estate business have our fair shareof scary stories about investments gone bad or contract negotiations gone worse.
In the DIY (do it yourself) age, You can bypass the taxi for Uber, skip the travel agent for Expedia®, find a room in Vegas with Airbnb. Yet, when embarking upon one of the biggest investments in your life, purchasing a commercial building, finding a tenant or leasing a new space, you do not want to be all alone. It can be scary and you can be an unintended victim if you aren’t experienced in this arena.
What are the benefits of working with a broker?
Market Knowledge: Your broker will help keep you find a location that fits your professional needs. They will know which parts of town are growing, and which might be spooky. They might even have inside knowledge that can benefit you in the future.
Time: If you DIY your own deal, you may feel like you’ve met the grim reaper before the negotiation is done. Your broker can save time by assistance with negotiations, inspections and ultimately making the offer. If you’ve ever bought a house or property you know how many hours you could spend and unless you’re a contract expert, you will invest many billable hours in this process.
Advocacy: Just like Spiderman or Captain America your broker has your back and can rescue you from entering bad contracts and making bad decisions.
We have all the updated documents
Established relationships in the industry with other agents, escrow, attorney’s etc…
Ability to quickly fact check to make sure it’s a win / win for both parties.
Help with the ins and outs of financing or the lease if not a sale.
We know the process to “make it happen.”
Alex Rhoten is Principal Broker at Coldwell Banker Commercial Mountain West Real Estate. www.CBCRE.com or 503-588-3508.