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Size does matter when it comes to buying a new building for your business. Look into properties that will allow your business to grow, otherwise you will be purchasing a new space in a couple of years.
Before you make a decision on which real estate broker to use, see how they negotiate. Find out about their experience and training. You also want to know they are ethical in their approach to finding the best deals. Ask for a portfolio, featuring both sales that were closed and sales that fell through.
Inspectors should always have credentials available for viewing, should you require their services in your real estate dealings. Always check the credentials of workers in insect and pest control as many of them aren't licensed. This can help you avoid headaches after the sale.
You can send out a newsletter about commercial real estate, or regularly post new content on a social networking website. Once you have locked up a deal, make sure to keep your online presence.
Use your blog to establish an expert reputation. Doing so may open up opportunities for you to sell your available properties or arrange for new deals.
Have a list of goals on hand before you start searching for commercial real estate properties. Write down the features of a piece of property that are the most essential to you, such as how many square feet it must be and the number of specific rooms it should have, including conference rooms, offices, and restrooms.
If there is more then one property you are considering, acquire the house survey checklist for each one during your site tour. Do not proceed past initial proposal responses, unless you inform the property owners. You may want to offhandedly let the owners know that theirs is only one of a few properties in which you are currently interested. It could even get you a good deal.
Size is an extremely important variable when searching for the perfect commercial property. Try to invest into a commercial property which has room to grow to avoid shopping in just a few years again.
When searching for a real estate agent, keep their disclosures in mind so you know who they are working for. Remember that a dual agency could occur. Dual agency is when a real estate agency is responsible for the representation of both parties involved in a transaction. In simpler terms, both the landlord and the tenant are simultaneously represented by the agency. Dual agency must be disclosed by both parties and they need to agree to it.
Always rent out all the available space in your commercial rental properties. If you have any open spaces, then you are losing money. If you're struggling to keep your properties rented, you should consider why that is, and try and fix anything that might be scaring away prospective tenants.
Prior to selling commercial property, have it inspected first by a professional. You can fix any problems right away so you have the best available property.
By now you should have a better understanding of how commercial real estate works. Be flexible and smart when you are trying to get into the real estate market. This way, you will be able to see opportunities that other people don't.
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