You may see signs on land that state “commercial sale” or “residential” these terms are meant for buyers to understand what can be built where in an area. Agents who are over commercial properties are called commercial real estate agents. They typically look over properties that are businesses, such as retail spaces, multifamily structures, office buildings, warehouses, hotels, restaurants, healthcare buildings, and land.
Commercial real estate (CRE) agents and residential agents vary in some areas of the real estate world. For one, hours worked look different in both areas, CRE’s typically work full-time and can structure their schedule during the week. They usually close fewer sales than residential agents but make more money.
With how fast real estate has been in recent years, you may wonder if your agent is qualified and prepared to help you find a place. The expertise of real estate agents has a range, but there are always qualities agents should have.
What qualifications should a commercial agency have?
1. Real Estate License
Even though they focus on different buildings and sales, they should still have a license. Anyone you work with needs to have their license. Each state varies on what the requirements are.
2. Minute Details
Your agent should be able to answer any questions you have on the property and the area, such as the cap rate, population growth reports, and other metrics.
3. Part of an Association
Agents who are part of the National Association of Realtors, Uburn Land Institute, and other real estate boards in your area are ahead of the curve. Agents who are with these associations are more likely to be active and informed on resources to help them better connect and provide to their clients.
4. Answer Questions Regarding your Lease
You should always feel comfortable asking your agent any questions regarding your lease. You should also have a list of questions ready, so you feel comfortable buying a commercial space that is made for your future business.
Give us a call!
Whether you’re looking for a new home or just new to the area, an experienced real estate agent can help you make short-range and long-range plans for your house. Plus, the agents at Southern Tradition Real Estate have decades of experience and a whole network of contacts and long-developed relationships in the Northwest Arkansas area to help you find – or perfect – the house of your dreams.