The future will be profitable for brokerages that are able to extend their core expertise of neighborhood and industry knowledge into flexible new consumer-centric offerings.o The traditional high-touch, full-service real estate agency is evolving, not disappearing.
Like any large business undertaking, failure to seek professional advice on an area outside of your expertise may lead to misinformed decision making that will place your business at risk and certainly the lack of market knowledge and negotiating expertise to extract the maximum concessions from a transaction. Fortunately however, most business owners are only faced with a corporate real estate transaction or challenge every couple of years. That being said, if you don already have one, how do you go about choosing a commercial real estate advisor whos qualified to achieve your goals? And if you do, how do you determine your current representative is up to the job this time around?Below are eight hard and fast rules to thoroughly consider for choosing the best commercial real estate advisor for the job:1.If a buyer is astute, and allows him or herself, to become well educated in the real estate marketplace, that buyer can make a good deal, and within a few years time, may thank his/her lucky stars for having the courage and willingness to take a chance. A few years ago, buyers would sometimes complain about the high prices. The buyer, thinking he was going to put $125,000 to finish the remodeling, notified me, after one year, that he had spent $300,000 to finish the building. The apartment building values were increasing rapidly during this time period, so Kevins project was increasing in value at the same time the buyer was going deeper and deeper into construction costs. The buyer made out all right in the end. If the market had died, he would have lost $200,000 on this building after Kevin had already lost a fortune. Its all about timing, isn it?Kevin learned that money alone was not the answer to his problems; he needed a Genie, to turn his turkey into a swan.
Source: Simarc