Buying or selling a commercial or industrial property is no small feat, and it’s one of the biggest financial decisions of your life. That’s why finding a real estate agent with the experience to guide you through the process is key.

Whether you are investing in a property or selling your industrial property, finding and choosing a real estate agent is a tough job.

Real estate is a local game, and to win you need somebody who knows every nook and corner of the areas where you are looking to buy a property. The agent should be able to give you a thorough snapshot of the market in your area and surrounding areas. They should know about demographics, transport, schools, and the sorts of buyers looking for homes in the area.

How to choose a real estate broker?

Besides simplifying your home search, your real estate agent will help market your property, therefore, evaluate the proposals that you get and choosing the most profitable one. Also, use caution while you choose.

• You need someone who is reliable and listen carefully to your priorities and won’t waste time on properties that don’t suit your needs.
• Find out as much as possible about the agent before hiring his services. Ask for references.
• Ask family, friends and colleagues to recommend real estate agents they have worked with.
• Check if the agent is licensed and can work full-time on your real estate needs.
• Ensure that all agreements between your agent and you are in writing.
• Do not pay money upfront to your real estate agent. This could be a loss to you if you don’t buy or sell a property with this agent.
• Rapport is also important when it comes to your real estate agent and your agent needs to be able to safeguard your financial securities.
• Make sure the real estate agent you choose is licensed by the state and does the job full-time; there are lot’s of agencies which give accreditation to realtors like the National Association of Realtors and RERA registered agents.
• Make sure that the agent whom you choose is from local market.

How much brokerages should you pay to real estate brokers?

If you are planning to buy property from a broker, then you have to pay 1 to 2 percent of the deal value. In lease transactions, the brokerage value is 1-3 months’ rental, depending on the deal type.

Where should I search for an authentic broker?

You can find good real estate agents locality-wise and city-wise on IndustrialPlot.com, which specifically deals in commercial and industrial real estate. Look for an agent in the area where you are planning to invest.

What is the best medium to buy an Industrial and commercial property – through a realtor, a developer, or an individual?

It depends on the property you are buying and who offers it to you. In case the seller is a realtor, it is best to buy through him after doing a background check on his reputation because he would know what legal checks must be made by you before putting the money on the table. In case a seller is an individual he must hire the services of a good lawyer to do due diligence on the title, etc before you write that cheque. This money spent on due diligence may pinch today and seem unnecessary but in the long run, you will realize that this is a wise decision.