what should land owner expect from a commercial agent

I'm beginning to see that commercial and residential agents are very different. What should I look for in a good commercial agent? I have raw land to sell in a high growth area.
In Selling Property - Asked by Liz W. - Sep 22, 2013
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Answer(s)

Global C.
Broker/Agent
Los Angeles, CA

Service and Knowledge

Sep 24, 2013
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Michael C.
Broker/Agent
San Leandro, CA

Land Comes in Many Forms. Agricultural, Industrial, Commercial, Residential, etc.. The Use of Land can Change Depending on The City, County, State and a Regional Plans.
Before Considering your Selection of a Professional, Check with The Jurisdiction Governing The Land to Determine What The Growth Plans Are in The Area Where Your Land is Located.
Almost All Communities Have a Growth Plan 5 and 10 Years Out. If You Are Considering Selling Your Land, The Future Value of That a Land Depends on The Future Potential Use.
Land Goes Through an Entitlement Process to be to Be Used for Something Other Than It's Current Use. Have You Had The Appraised In The Past? How Large is The Property? What Type of Sale Would You be Looking at? All Cash?, Seller Financing? Partnership? Buyer Obtains New Financing? Option to Purchase?
Consider Your Tax Implications from The Income and Check with Your CPA or Financial Planner.
A Conversation With a Prospective Agent/Broker Should be Able To Answer These Questions for You or Talk to You About These Issues.

Sep 27, 2013
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J. David F.
Broker/Agent
Brentwood, TN

You want to employ he services of a commercial broker to do commercial transactions and a residential agent to do residential transactions. You do not go to a foot doctor for brain surgery, nor an oral surgeon for ear, nose or throat issues. This is no different.
While the licensing requirements may not separate/recognize the various fields of expertise, ask the primary focus of their business. If they derive less than 95% of their business from commercial business, find another broker. Commercial brokerage is a specialized field, and statistics are that 80% of commercial transactions that involve a primarily residential agent in a transaction fail to close. Stack the deck, hire the commercial guy, for your cost to do business usually exceeds the cost of the broker's fee especially if it fails to close.

Oct 2, 2013
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J. David F.
Broker/Agent
Brentwood, TN

You want to employ he services of a commercial broker to do commercial transactions and a residential agent to do residential transactions. You do not go to a foot doctor for brain surgery, nor an oral surgeon for ear, nose or throat issues. This is no different.
While the licensing requirements may not separate/recognize the various fields of expertise, ask the primary focus of their business. If they derive less than 95% of their business from commercial business, find another broker. Commercial brokerage is a specialized field, and statistics are that 80% of commercial transactions that involve a primarily residential agent in a transaction fail to close. Stack the deck, hire the commercial guy, for your cost to do business usually exceeds the cost of the broker's fee especially if it fails to close.

Oct 2, 2013
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Patricia S.
Broker/Agent
Orlando, FL

All of the items below from the other agents are accurate. Also the commission structure can be different. The industry standards in Florida for vacant land is 10% of the purchase price to the broker. Although I have done and seen deals with lower commissions because the land was distressed. There are different disclosures that need to be filled out as well with land.

Oct 21, 2013
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Jason T.
Broker/Agent
Green Bay, WI

Most have hit things pretty well – the question I have is this residential land? It could go either way there.
Otherwise you have to understand the gigantic differences. Think about it like this. Every home has bedrooms, kitchens, and bathrooms.
Commercial has zoning , water connection, eave height, traffic count, all particular to potential users.

Oct 29, 2013
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Caren K.
Broker/Agent
Jersey City, NJ

• Experience
• Have local connections
• Market Knowledge
• Time Management
• Cost Savings

Oct 30, 2013
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Guy T.
Broker/Agent
Springfield, VA

It depends on the highest and best use; select an agent that has sold and or has active comparable listings for the highest and best use for the market you are in.

Feb 18, 2014
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