Whether you are looking to buy or rent a commercial property for the first time or have a lot of experience in the field, using expert commercial agents will always help to give you a leg up and ensure you are getting a great deal. Your two main options are to hire a specific commercial agent to source property on your behalf and pay a commission fee, or deal informally with a number of agents and take care of the main parts of the deal yourself.
If you have a business to run and other things going on, it is unlikely that you will have a great deal of time to do it yourself. We looked at how you can find yourself a great agent to source the perfect commercial property for you.
If you have an idea of the area you are looking to find a property in, then it is always best to hire an agent with knowledge and experience in that area. This will avoid a situation where an agent is not understanding your needs or is trying to sell you on a property that is miles away and that you ultimately have no interest in whatsoever.
If you are an employing an agent, ensure that you agree on business terms before they begin to work on your behalf.
- · What are the options in terms of costs, are they looking for a per hour fee or a commission based on where you ultimately buy or lease?
- · Agree suitable contact windows on both sides, and ensure that you have arranged a regular conversation or meeting to discuss developments.
To find an agent, you could always ask tenants or owners of commercial property in your area who they used, and how they found the service. Word of mouth is often better than the corporately worded “testimonials” on a website and will give you a far greater idea of who you should deal with.
Using More Than One Agent
If you do decide to go down the self-management route, there are still some things you will need to factor in when dealing with more than one agent.
- · Ensure that all are clear on your property requirements from size, cost, and any other specifics.
- · If your agent knows you are working with other agents they will likely try to pressurise you into buying quickly with them, if this happens, stop working with them.
- · Save yourself time by discussing properties over the phone rather than attending numerous viewings – only view if you are sold via the conversation and photographs.
Follow our guide and make the most of your dealings with commercial agents and ensure you get the best property for your needs.
Harworth Estates are commercial estate agents serving the UK market. They buy, sell and let out commercial properties.