Hiring the right commercial property company is important for property owners and tenants. Things to consider before hiring a commercial property agent and company are:
- Company Focus: Large national brokerage firms usually will lease, sell and manage larger size properties because the profit margin on smaller properties is so much less.
- Commercial Real Estate Expertise: Finding commercial real estate companies specializing in a specific niche of commercial real estate can have it’s advantages over a generalist. Companies like JBG Smith who laneded Amazon HQ have lease admin specialists who understand and have been trained on software like Yardi. Large national tenants may audit Common Area Maintenance(CAM) on a regular basis so it’s critical for commercisl landlords to have the right staff in place to handle tenant inquiries. Large national tenants may audit CAM on a regular basis so it’s critical for commercisl landlords to have the right staff in place to handle tenant inquiries.
- Technology Intelligence: The best commercial agents and companies have a deep understanding how to skillfully use technology and social media to bring the greatest amount of qualified tenants to your property. Most likley they will also be using technology to stay more organized and focused leading to better results
- Trust and Likeability: Honesty above all else. The agent should put your needs before their own. Commercial real estate is the long game. You might as well like the agent and company. You will enjoy owning real estate alittle more.
- Mitigate Risk: You want someone who is realistic and can proactively mitigate risk for your commercial property. Agents should be doing every tenant transaction in writing and a lawyer should be creating the leases. All agents should have professional liability insurance which is coverage for claims related to professional work or advice and the property owners should be added as additional insured. Property management companies should have a fidelity bond which protects a business from fraudulent or illegal acts on the part of its employees.
Capital Retail offers small to mid-size commercial property owners, sellers, purchasers, and lessees all the skills, services, and sophistication of the larger commercial real estate companies. However, we add the personal attention and responsiveness that larger firms may fail to provide for smaller owners, purchasers or lessees. We focusing exclusively on small to medium size commercial properties located in Prince George’s County, Montgomery County, Fairfax County, and Washington D.C. we have mastered the ins and outs – and understand the opportunities as the challenges – of this market.