Sometimes when people buy commercial real estate, they prefer to handle everything themselves. Commercial real estate sales are greatly benefited by having a third party involved, however, usually in the form of a broker. Brokers can save their clients both time and money through their experience, knowledge of the market and detailed understanding of real estate sales. A commercial real estate broker usually saves clients time because he handles aspects of real estate transactions such as negotiations. Because of their vast experience handling negotiations, brokers typically are able to get better terms than the buyer might. They also have the market knowledge to know what the going rates currently are. Their market knowledge extends to property owners, too. A good broker knows the properties in the location you want to buy and which owners are difficult to negotiate with. The negotiation phase can be time-consuming, so a broker acts as a go-between as well so that the buyer may continue with his everyday life without the stress of worrying about the property he’s buying. Additionally, a broker can be a buffer between the buyer and the seller so that a good relationship is maintained throughout the transaction. During commercial real estate sales, many buyers don’t hire a broker because they think they’ll be spending more money. What they don’t understand, though, is that a broker saves them more money long term than they can save by themselves. The broker is paid by the listing agent, not the buyer. Additionally, a broker may be able to get a buyer a better financing rate, as most maintain friendships with lenders. A buyer may also save money through deal structuring. Brokers are experts at uncovering hidden charges during the negotiation phase so that a buyer doesn’t spend any more money than he has to. Hiring a broker can greatly affect commercial real estate sales. Buyers may save both time and money and get into the building they love more quickly.
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AuthorHello, my name is Roger Dennison and I'm a successful commercial real estate broker, with more than 20 years in the field. Archives
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