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Finding the Right Commercial Real Estate BrokerHow to Find the Right Commercial Real Estate Broker To find a commercial real estate broker, you could look in the yellow pages under the heading of "real estate", you'll see the all the familiar 'big' national names and national franchise names. However, if you're looking to do the commercial real estate investment business like we do then you don't want to head in their direction. Instead, seek out the smaller local private commercial brokerages. Instead of 100 agents, they usually have 10 or less. Of those 10, although they can all handle any type of commercial deal, they each often specialize in one commercial area like apartments or the office sector that's their particular specialty. If you are thinking about entering this marketplace, make some calls to these private commercial brokerages. Ask who specializes in the commercial area in which you will be investing. Take that agent to lunch and pay for it. What are you doing? You are buying an education. Don't forget to ask them for packages on current properties they are representing. Most of the time in the commercial area, when agents or commercial brokers have listings, they put together a lengthy comprehensive package, which includes the usual listing information, traffic counts, zoning, profit and loss analysis, best-use information, and perhaps a current appraisal of the property. In addition to the standard information on the land and the location, they usually include the area demographics, in an effort to convince you that their listing is in a great location. If you were investing in the residential marketplace, they would have information regarding the school districts in the area. However, since you're in the commercial field, the demographics they'll put into your package will help you determine if this would be a wise commercial investment for you. So, they'll include information about other businesses that are already in the area, or what kind of profit margin they're currently reaping. NOTE: They'll have profit and loss statements in there,
too. Now, many times, you're going to see what they call Pro Forma's.
This type of financial statement is purely theoretical. It projects what
your assets/liabilities or income/expenses might look like in the
future for a particular enterprise- if it were a perfect world. It might
even demonstrate projected earnings for this business if you merged
with another company. This information is pre-set, but you need the
actual figures. Some agents may not give you actual information until
you have a contract. But *** One Deal to Financial Freedom? Gary Tharp invites you to get access to ask the real estate experts who are mentors to millionaires today! Attend the next free commercial real estate webinar with some of the nation's leading real estate experts: commercial real estate Source: Free Articles from ArticlesFactory.com
ABOUT THE AUTHORGary
began his real estate career in Honolulu in 1966, selling land and
homes as head of one of Hawaii's largest brokerages. For the last 30+
years Mr. Tharp has been one of the leading commercial investment real estate
brokers in Orlando, Florida and a nationally known mentor. Gary is
widely regarded in commercial real estate, having developed tools and
systems of commercial property evaluation that have become industry
standards used by professionals nationwide. With development experience
ranging from office buildings to industrial parks, Gary is Florida
Partner for the Lynxs Group, national developer of air cargo facilities,
Fellow of the faculty of the CCIM Institute, and Board of Advisors with
HIS Real Estate Network, commercial real estate buying group.
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