Here are a few things to consider:
- Look for a broker who knows the area since they will know the local market first hand. They'll have relationships with area building owners and may have the inside scoop on un-advertised available spaces. They'll also have a better understanding of the local market rates as they can be very different from region to region within the same state.
- Ask your friends and colleagues to refer you to a broker they have used and trust.
- When you are reaching out to brokers, how quickly do they respond? Most commercial real estate business is done Monday to Friday during normal business hours so keep that in mind if you are making calls on the weekend. However, during the work week, calls should be returned within a reasonable time frame. That goes for email as well.
- Set up a brief meeting to talk about your space requirements face to face. Brokers should be willing to come to your existing location to get a better understanding of your business operates in your existing space. Having a visual of how your business operates can be advantageous to a broker when they are searching out properties. Also meeting face to face can give you a chance to talk and be sure your personalities are compatible.
- Give it a test run. Offer to sign an Exclusive Buyer's Agreement for a very short period of time and for only the properties that particular broker shows to you. That way, you aren't locked in if for some reason you don't feel you made the right choice, however the broker is protected for the properties they showed. Once you are comfortable, you can extend the agreement to a longer time frame.
I hope these tips are useful and please don't hesitate to send me your additional thoughts.
Be well,
Rhonda