A brokerage company acts as the middleman between buyers and sellers. Because of their status as an intermediary, a brokerage possesses extensive knowledge of the market to share with both involved parties. Some are going to have a more straightforward experience than others. Still, the expert insight of an exclusive real estate broker is needed considering buying and selling are much more complex than just passing off money. There are negotiations that need to happen. And if you are not a seasoned professional in commercial real estate, you may not be fully prepared for all that is to come with it.
If you are making the shift from residential property investing to commercial, know that there are many differences. Residential real estate is made up of single-family homes and smaller rental residences. Commercial real estate, on the other hand, is anything with five or more units. This includes retail shops, office buildings, and hotels. When making such a sizable investment, you want to be sure that you are doing it right, with the right people by your side. Let’s consider what it takes to make a great commercial real estate brokerage in Houston.
When you are looking to start a company and purchase or rent a building on its behalf, you need to consider whether you will be going the commercial or industrial route. Commercial properties are those that are used for business activities. Examples include shopping centers, office spaces, and restaurants. Industrial real properties, instead, feature more behind-the-scenes action. This subset of real estate is home to warehouses, flex space, and manufacturing plants. Essentially, commercial real estate is concerned with commerce, while industrial is designed for industry use.
From the beginning, you should be upfront with your broker about what you hope to get out of your property. Above all else, work with a commercial real estate brokerage in Houston that is committed to fulfilling your needs as a business owner. One of these needs may simply be the broker returning your calls. You want to have a sound business relationship with your broker, and that cannot be achieved if you are not kept in the loop about what they are up to. Expect to have regular check-ins over their property search progress. With real estate goal setting, you can have tangible evidence of this progress. Make sure that your broker is being held accountable so that you can start focusing on your business.
Word-of-mouth is an incredibly powerful marketing tool. From the perspective of a commercial real estate broker, building up a happy clientele can make a world of difference in growing brand loyalty and attracting public interest. People stick by the companies that make them feel supported. As a prospective client of a commercial real estate brokerage in Houston, you need to have a good sense of the ethics of who you are working with. Check out testimonials on a brokerage’s website and reviews on their profiles. Ask your own family members, friends, and colleagues about the brokers they have worked with in the past for similar ventures. Would they use the same brokerage again?
Another thing that you will be able to discover from online resources is the expertise that a brokerage has. Ideally, you want a broker who works with tenants. This way, you are best represented during commercial real estate transactions. Most brokers focus on a particular asset type. If you are looking for a retail store, for instance, you won’t go with a broker who specializes in warehouses. Your commercial real estate brokerage in Houston should show demonstrable experience with transactions that are similar to yours. Having an expert broker minimizes your risk when making financial investments.
As mentioned previously, you want to partner with a commercial real estate brokerage in Houston that is attentive. Finding a brokerage is not as much of a challenge as finding out that is communicative. If your broker is proactive, they will even be the first to reach out. A broker should communicate with you throughout the process of closing your deal. But it is not just about the amount of communication that happens—it is also about the effectiveness of each conversation. Given that you are in one of the most significant financial commitments of your lifetime, it is critical that your broker is straightforward, expresses patience, and listens to your wants.
You need to do your due diligence before signing an agreement with a commercial real estate brokerage in Houston. Find out what they can offer you by diving into your research and establishing what you still need to know. Here are some of the questions that you can ask a broker:
Commercial Industrial Properties has served Texas since 1975. Our diverse team of brokers is made up of an average tenure of over 20 years in commercial real estate. Whether you are a beginner investor or one of our longtime clients, we are committed to providing you with the same positive experience every step of the way. Are you interested in working with an expert commercial real brokerage in Houston? Contact us today to learn more about how CIP can help you achieve success with property ownership.