Over the recent past, the lease and sale of warehouse spaces have gained immense popularity. The Covid- 19 pandemic saw the bloom of electronic business transactions and online sales by the majority of the business persons, therefore, prompting the need for storage spaces for their goods. Looking for a potential buyer or tenant for your warehouse space on your own is a quite tedious and laborious process and therefore you should seek the services of a professional real estate broker. Consider the following factors when selecting the right real estate company to work with.
Evaluate the level of experience of the real estate broker in the industry. A real estate broker with many years of experience has a broad knowledge of the entire important lease or sale elements in the real estate market. Additionally, a widely experienced real estate broker has the relevant expertise in determining the capitalization rate for your warehouse space in line with other warehouse owners. If the real estate is well experienced, they will be able to determine the rate of return for your warehouse space and ensure they calculate its best market value.
Do background checks on the reputation of the real estate company before you hire them? Reading the reviews of the customers the company has served in the recent past on the company website will be a good start. Furthermore, ensure that you peruse through comments and recommendations by the company’s previous customers on its social network handles. Ask for the number of warehouse lease or sale transactions that the company has completed successfully.
Ensure that the real estate company has a good flow of communication. Settle on a company that understands the importance of good and transparent communication with its customers. Such a company will understand the significance of timely updating you on every stage of your warehouse lease or sale. Ensure that you discuss the methods that the company will use to communicate to you and agree on the communication schedule. Ensure that you can easily reach the company as the need may arise.
Inquire what will be the real estate company’s commission percentage. A comparison of commission percentages for different real estate companies specifically dealing with the lease or sale of warehouses will be quite helpful in settling for the one that fits your budget or negotiating for a fairer commission rate from your real estate company. Make sure that you are aware of all your warehouse lease or sale-related and note the expenses that you will be required to foot.
Consider the location of the real estate company. It is important to go for one in proximity to your warehouse. This is because such a real estate broker is broadly knowledgeable on the most current market price for warehouse lease or sale in your locality. Local real estate brokers will have an in-depth understanding of your locality demographics and will know the right target to sell or lease your warehouse at a profitable value and close the transaction within a short duration.