Tom Miller, CCIM
What Does an Industrial Real Estate Agent Really Do For You?
The real estate market is loaded with real estate agents. Just like doctors, lawyers and auto mechanics, some get very, very good at specific aspects of the business while others try to do everything. Assuming that you would prefer a specialist to handle your specific needs, and not a general practitioner, the next step is to be clear as to what to expect. This list of expectations is what you, as the client, deserve during this transaction. Anything less, and you must let your agent know where you believe he or she is coming up short while also keeping your eyes open for alternatives.
An experienced and professional industrial real estate agent does all of the following – and you should expect nothing less:
Accessibility: Your agent is always available on very short notice. If this isn’t the case, find one who is.
Transparency: Your agent should keep you up to date on every and any aspect of your transaction at any time. He or she should be able to quickly share any data. He or she represents your interests solely and discloses all details fully every time.
Accountability: Your agent should be able to show why and how every part of your transaction was right for you and why it was the best move to achieve your goals.
Experience/Expertise: Your agent can show experience in your transaction type and repeated success for his clients.
Foresight: Your agent needs the foresight to ask the right questions, listen and give you candid feedback on your transaction plans, goals and expectations. It serves no one to allow a transaction to move forward with a fatal flaw in the planning stages. Your agent needs the ability to guide and steer the project away from trouble and towards a successful conclusion.
Team member: Your agent needs to be an extension of you. He needs to work with you and form a team approach, keeping your goals at heart and working hard to achieve them.
When an agent provides this level of service, there is no further argument as to the value this person can bring to achieving your real estate needs. But it begs the question – how do you find such an expert specialist?
That’s simple enough. Just check the Yellow Pages, which in this day and age means Google. Search for the type of industrial real estate you are looking for and see who emerges. Try a keyword like “Reno warehouse for lease” and check out a few of the websites that appear. After browsing the site, set up a meeting and ask pointed market questions. Don’t accept vague answers like, “Our market is on the rise,” or “Availability is good right now.” Ask to see statistics. Anyone that cannot product hard copies of up-to-date specifics isn’t worth your time. Ask for a list of completed deals this year that are similar to yours. Very quickly, you will see if this firm is right for you.