If you are considering buying a commercial real estate property, getting in touch with a commercial real estate broker is the ideal decision. Unless you are a broker yourself, there are a plethora of benefits you can get out of hiring a broker to manage your sale or purchase.

While commercial real estate brokers can ensure you get a great deal, there are also a few aspects they cannot manage. We have compiled a little guide to help you get a realistic picture of how hiring a broker will benefit you when you are trying to buy, sell, or lease commercial real estate.

What your Commercial Real Estate Broker Can Do

Following are some of the key things commercial real estate brokers can do to ease the process for you.

1. Offer you Market Insights

Commercial real estate brokers not only need to stay updated on market trends to do their job well but also gain several insights throughout their experience. They can make predictions based on historical analysis about where the market is moving and guide you accordingly.

2. Use Network to Make the Process Efficient

Brokers have a wide network that includes people involved in several parts of the transaction process. This network includes authorities, inspectors, and related parties who can affect the efficiency of the transaction.

3. Offer Advice for Due Diligence

Knowing the particulars of property inspections, commercial real estate brokers will help you perform the due diligence before purchase and also give you advice about how to manage them.

This aspect is incredibly important because it helps you set a base expectation for future deals.

4. Do Background Checks on the Other Party

Due to their extensive network, brokers have access to extensive intelligence about buyers, sellers, and tenants. Working with a broker helps you access that intelligence and determine how safe it is to work with the other party. It helps clients avoid frauds and consistent defaulters.

What your Commercial Real Estate Broker Cannot Do

While commercial real estate brokers are capable of helping you close the most profitable deals, there are limitations to their capabilities and authority.

1. Anticipate Unexpected Events

Although commercial real estate brokers can predict market trends, they can, understandably, not predict unexpected events like a pandemic, war, or natural disasters.

2. Negotiate Tax Rates

Tax rates are fixed, and while they may try to talk to authorities to relax the timelines of payments, they cannot convince them to reduce the rates themselves. Tax rates are fixed by local, provincial, or federal governments, and commercial real estate brokers do not have the authority to get them revised.

3. Cancel the Deal After It Is Finalized

Once a deal has been finalized and the contracts have been signed, a commercial real estate broker cannot get it reversed. If you have apprehensions about the deal, you need to voice them out before the signing of the contract.

Conclusion

To sum it up, it is always better to have a realistic picture of what your commercial real estate broker is capable of managing. Working with them will open you up to several opportunities you would have otherwise missed and help you strike the best deals.

If you are a commercial real estate buyer, seller, leaser, or tenant in need of broker services, please contact us. The CHRE team has years of experience, and we will help you find the perfect deals for you.