Do I Need a Specialized Real Estate Professional? | alecsalameh.com
Do I Need a Specialized Real Estate Professional for Commercial Real Estate?
If you are an investor looking at buying or selling commercial real estate in Fort Myers, you may find yourself wondering, “do I need a specialized real estate professional for commercial real estate?” While the answer is technically no – there are no requirements that state a real estate agent be licensed for commercial real estate to facilitate transactions – there are benefits of using a specialized real estate professional.
Any real estate professional can legally sell a property of any type. However, commercial real estate professional undergoes additional training and licensing that makes them uniquely positioned to find and negotiate commercial real estate sales in Fort Myers. In this article, we will discuss what a commercial real estate professional is and what four benefits can they offer you when buying or selling commercial real estate.
What Is a Commercial Real Estate Professional?
A commercial real estate professional must be licensed by the National Association of REALTORS as a commercial real estate agent or broker. This grants them access to exclusive realtor tools and resources specific to local commercial real estate listings, market trends, and insider knowledge.
In general, a commercial real estate professional will have a more targeted understanding of the commercial industry. Their daily duties may include some or all of the following:
- Provide property owners with an analysis of the current market including cash flows and internal rate of return to inform their selling strategy such as how long to hold a property.
- Assist the owner in general property management duties such as leasing or advising on real estate investment opportunities.
- List and market new properties that are for sale and advise sellers on the best ways to maximize their return on investment.
- Provide investors or buyers with an analysis of the current market, current listings, cash flows, and investment returns.
- Assist buyers in the search and selection process in order to find a property that meets their needs.
- Stay up to date on all local and federal real estate regulations, zoning and environmental conditions, and financing considerations.
- Provide property valuations for owners, buyers, or investors.
- Provide a study of the market to determine the likelihood of a project’s success at a specific location.
Save Time and Money
As with any property purchase, buying commercial real estate can involve many working parts that need to be handled accordingly. A commercial real estate agent can help navigate all the legal and financial aspects of the transaction. This reduced the amount of time spent filling out paperwork and reviewing local compliance laws among other administrative tasks that accompany a real estate transaction.
In addition, searching for the perfect property can be time-consuming and competitive. Real estate professionals have access to listings that are not available in the public domain yet. This gives you an edge over the competition and reduces the amount of time spent searching for that perfect property so that you can spend more time viewing it!
Beyond that, a real estate professional will be educated on the best financing options to reduce fees and get you the best interest rates. They can also assist in the negotiation process to get your property at the price you want.
Whether you are a first-time investor or a seasoned professional, it is always a good idea to get a second opinion whenever you are interested in making a large purchase like buying a commercial property. What better opinion to seek than that of a professional who deals with these specific transactions daily?
A real estate professional is required to maintain current licensing and knowledge of industry standards, trends, and regulations. A specialized real estate professional will have additional expert knowledge on commercial zoning laws, permits, financing, and other details associated with commercial properties. While a regular real estate professional will have a broad knowledge of these things, a specialist will be more readily able to answer all your commercial real estate questions.
As mentioned above, commercial real estate agents and brokers have access to listings that are not available to the general public. These listings are found on the Multiple Listing Service (MLS) which can only be accessed by individuals that are licensed by the national association of REALTORS. This allows them to create a real-time, customized listing search designed specifically for your needs.
In addition, part of a real estate agent’s job is to create a relationship with industry professionals to create a real estate network to work for their clients. This means that by working with a specialized commercial real estate agent, you not only get access to the resources and knowledge at their disposal but also the resources that the professionals in their network have at their disposal.
It is extremely common to enter into negotiations when purchasing a commercial real estate property and commercial real estate agents are more than prepared to handle these dealings for you. Beyond helping save you time and money as mentioned above, they can help you identify potential red flags during the negotiation process.
In addition, they may be able to help you answer questions about the negotiation process and even determine what you can get added or removed from the agreement to fit your commercial real estate needs.
At the end of the day, there is no requirement for you to use a commercial real estate professional, or any real estate professional for that matter, however, it is highly beneficial to consider it. A specialized real estate professional like Alec Salameh will be there to guide you through every step of the process. It is their job to provide you with the latest insight into the industry so you can make the most informed decisions for your commercial properties.