5. His background isn't in real estate. I've known commercial agents that one day are used car salesmen, pawn shop employees, or pastors. The next day they are a commercial real estate agent. Really? Does that make any sense? To be good at real estate, you need training and education. You need to know what you're doing before you tackle someone's most important and largest investment of their life....
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4. He doesn't use all the commercial real estate sources that are available...because he's too cheap. Commercial real estate listing services are expensive. Many costs up to $1,000 per month. And, a good agent needs several of these services. Signs are expensive. If your agent is using small little yard signs for your property he's trying to sell, he's just being cheap. Does he produce videos of the...
3. He's a part timer. This is a big one. Commercial real estate is a full-time job. There's no way around it. Would you hire a doctor that's part time? Do you want your mechanic to be part time? Why would you hire a commercial agent that's not full time? A good agent lives and breaths real estate. It's not unusual for a good commercial agent to work 70 hours per week. The more you work at anything, the...
2. He has very little experience. It's true that everyone has a first day on the job. And, every agent has his first deal. But, do you really want them to practice on you. I recommend finding an agent with 5 years of full-time experience. Unfortunately, it's very easy in most states to obtain a real estate license. No college degree is required. No level of experience is required. In the commercial real...
1. He won't co-op (share) a commission. A property that is listed for sale by a realtor will include a commission that is payable to the listing broker (represents the seller) and the buyer's broker (represents the buyer). This fee is normally paid 50% to each broker. However, the listing broker controls this split percentage. It's wise to ask your listing broker, and get in writing in the listing...