One might think having multiple commercial real estate agents competing with each other to locate the “right” commercial property for you to buy or lease would increase your chances of success, but is that the case?
I sometimes talk with business or property owners who are reluctant to make any long term commitment with one agent, which is understandable as what if they later find themselves unhappy with their representation and many believe they have the best chance of finding a property if they speak with ten or so agents.
What many of these business or property owners don’t understand is that most (all that I am aware of) serious commercial real estate agents all have a premium Loopnet account and CoStar, so they all have access to all the same properties.
This being the case, by not committing to have a commercial real estate agent to exclusively represent them, they are actually less likely to find that “right” property.
Why do I say that, well put yourself in a real estate agents shoes for a moment.
If you were a real estate agent and you had 20 investors or tenants that called you and only two of them are willing to commit to work with you exclusively, who are you going to spend most of your time and effort working to service?
Would you, as an agent, run around town trying to get the best deals with clients that are not loyal to you, or concentrate on those buyers or tenants who have selected you to represent them?
Yes, in selecting a commercial real estate agent, you need to choose carefully, but you need to choose.
Let me know how I can help you with your commercial property needs.
The views and opinions expressed in this commentary are those of Richard D Chapin, PLLC as of the date of publication and are subject to change, and do not necessarily reflect the views of Arizona Elite Commercial Properties and/or its affiliates.
This information is for informational purpose and not intended to be investment advice, and should be explained to you in detail. You should always seek legal and/or tax advice to obtain further information you deem necessary. I want you to be prepared.