Most people understand that when you buy a house you should hire a buyer’s agent to represent you and when you sell a house, you should hire a seller’s agent. Unfortunately, people don’t quite understand that concept in commercial real estate. When business owners outgrow their space or find a need to move, get in their car and drive around in the area of town that they want to be in. They call on the signs, hoping to catch the agent for the building (which rarely happens). So, they leave a message for the agent to call them back (which sometimes happens). It’s not a very efficient use of their time or energy.
What do business owners get when they hire a Reece Commercial agent to represent them? First, they get someone who ”represents them, to the utmost good faith and fidelity.” We look out for our buyers. We want them to get the best possible building for them and their business at the best possible price.
We also know how to track down what is available for sale. Unfortunately for consumers, there are no websites that show the commercial properties for sale. We subscribe to services that track the market for properties for sale. We also communicate with the other commercial brokers in town to see if we might be missing a property.
We assist owners in buying a building that fits the needs of their business. Whether an office user, a retailer, a manufacturer, or a distribution company, we like to delve into what an ideal location is. We can run demographics that may target a location for income or population. We can target a location based upon rail lines or local or state incentives. It could be a location close to a certain kind of workforce.
Then there is financing. Buying a commercial property is a different beast than buying a house. There is no fixed 30-year financing for commercial buildings. But there are things like SBA financing, floating rates, fixed rates and a myriad of down payment options. We can get our clients pointed in the right direction for their needs.
The best news is that it doesn’t cost anything to hire us as a buyer’s agent. We get paid a commission from the seller of the property. So when talking to clients I always tell them to focus and spend their time on running their business. Let us spend our time on finding the perfect building and location to help them make more money.