What to Lookout for in a Commercial Real Estate Agent
One of the hurdles to the success of any startup is their choice of office space. If you choose a crooked real estate agent, you will lose your money and dream! Instead, check the 5 important things when selecting a commercial real estate agent.
5 Crucial Things for selecting a Commercial Real Estate Agent
Starting a business takes an office, more important than anything.
Wondering if your real estate agent is honest with you? What if he is playing you? We’ve compiled five easy markers to check the expertise of your real estate agent before committing to anything.
1. Broker License and Memberships
If you’re looking for an office space to rent in India, you must check the license of the real estate agent you’re working with. Reliable real estate agents in India can be found at the Confederation of Real Estate Brokers Association of India (CREBAI).
Other accredited real estate agencies to crosscheck the qualifications of your real estate agent are Association of Certified Realtors of India (ACRI) and National Association of Realtors (NAR).
2. Experience and Reputation
The next most important way to check if the real estate agent is right for you is by checking their past project history and achievements. You must call past clients of the real estate agent in case you’re buying an office space to rent in Bangalore.
As real estate regulations are not regulated in India, it is common to come across unqualified agents posing as real agents. Also, check if your real estate agent is capable to meet the needs of your business and brand, now as well as in the future.
3. Acquaintance with the Locality
Another mistake of amateur real estate investors commonly seen is in the choice of a real estate agent from a different place to set their business in a new place. Simply put, it does not matter whether your agent is an all-rounder in Delhi if you’re looking for office spaces in Bengaluru!
Ask your real estate agent about their prior projects. Crosscheck if they were in the same locality as you want your office in. A good commercial real estate agent must know the area in-and-out, for your benefit even after the sale!
4. Listening Ability of the Agent
Buying an office space in a metropolitan Indian city is no joke. You need a reliable real estate agent who can take your requirements into consideration to find you a place that can kickstart your business. Hence, a crucial test must be to check if your real estate agent is giving false promises before you commit to anything.
In addition, ensure that the agent listens to you otherwise, you will face huge losses in the future.
5. Clear Brokerage Charges
When you’re choosing a commercial real estate agent in India, always confirm the brokerage fee in the very start. Most fraudulent real estate agents trick the buyer into shedding more than the original brokerage fee, until signed. Hence, skip the verbal agreement and sign a brokerage fee at the very start!
The Real Estate Expert Says …
When choosing a commercial property, always select a real estate agent who understands the market as well as you. If you’re naïve, you can lose lump sums.
So use the five markers to choose a good real estate agent TODAY and get your dream business started!