Broker Q&A?

What to ask your broker

Selecting the right commercial property broker can make a huge difference in the success of selling, leasing, or managing your property. Here are some of the most important questions commercial property owners have about choosing a broker:

Experience and Expertise:

• What is your experience in the specific type of commercial real estate I’m dealing with? (Office, retail, industrial, etc.)
• What is your track record of success in my local market? (Data on recent deals, average market time, price/rent achieved)
• Do you have any relevant certifications or designations? (CCIM, CPM, etc.)
• Have you worked with clients similar to me in the past? (Size, property type, objectives)

Marketing and Strategy:

• What marketing strategies will you use to attract buyers/tenants for my property? (Print, online listings, networking, open houses, etc.)
• How will you position my property to stand out from the competition? (Highlighting unique features, competitive pricing, location benefits)
• What steps will you take to generate strong buyer/tenant interest? (Targeted outreach, property tours, negotiation tactics)

Communication and Communication

• How often will you communicate with me about the progress of the sale/lease?
• What method of communication will you use? (Phone, email, text, in-person meetings)
• Are you readily available to answer my questions and concerns?
• Will you keep me updated on market trends and relevant changes?

Fees and Compensation:

• What is your fee structure? (Commissions, retainers, hourly rates)
• What are the additional costs associated with working with you? (Marketing materials, advertising fees, etc.)
• Are there any performance-based incentives included in your fee?
• Do you offer any discounts or special packages?

Trust and Fit:

• Can I trust you to act in my best interests throughout the process?
• Do I feel comfortable with your communication style and personality?
• Are you transparent and honest in your dealings with me?
• Do you understand my goals and priorities for the property?

Additional Resources:

• Can you provide references from past clients I can contact?
• Do you have access to relevant research and market data?
• What professional organizations or networks are you affiliated with?

Remember, choosing a commercial property broker is an important decision. Take your time, interview multiple candidates, and ask detailed questions to find the one who best understands your needs and can achieve your desired outcome.