I believe that there are several factors that a person needs to consider when evaluating a commercial real estate broker.
1) Is the broker specialized in the product type? For example, if a Landlord owned a small office building, they should make sure their broker has a background in selling office buildings in that area.
2) Is your broker's license in good standing with the State that they do business? For example, brokers are required to disclose their license number. This number can be referenced on most state websites. The website should disclose if there are any corrective actions taken against the broker you are researching.
3) Interview more than one broker from different offices in your area. For example, when you get an estimate to paint your house, you should get 3 estimates, this principle should be carried when interviewing brokers. You want to hire a broker that is a good representative of you, and is understanding of your goals for the short and long term.
4) If something is too good to be true, it probably is...Its an over used saying in our country, however, there is a lot of truth to it. Be aware of any broker that is over promising results, and doesn't have any data to support their theories.
I believe if you follow the above simple steps, this will help you in finding the right broker for your real estate needs. If you want any more helpful hints, please do not hesitate to email me at firstname.lastname@example.org
Oct 26, 2011