Irrespective of whether you are dealing with any industrial real estate brokers for the first time or you are regular investor, there will certainly be many questions in your mind that you may like to ask your perspective broker.
As you know, dealing with industrial property can be little special area in comparison with any other commercial property dealing.
Following are few questions must therefore be asked to your prospective broker in order to judge his suitability.
- Whom are you representing?
Often you may find a broker who is representing the land owner and in such case his loyalty will naturally be more towards the land owner rather than you.
- What is your qualification?
It is very essential to know whether broker is qualified and knows all the rules associated with such dealings. You must probe in detail about his past dealings.
- How long are you associated with this business?
It is essential to hire a broker who is quite well versed with the total process so that all your dealings can carry out in smooth manner.
- Can you give details of your old clients?
Any reputed broker will be readily sharing the details about his past clients and if you notice that the broker has certain reservation then better reject him.
- Are you a member of any professional organization?
You can expect a broker for such property will be member of any professional body, which will ensure that he will abide by certain professional ethics.
- Have you recently dealt with an industrial property which is similar to mine?
You must ask the broker for doing a case study of properties which were similar in quality, size and price like your property, so that you can narrow down your choices between few other brokers.
- How long usually on average, you take to find any prospect?
By looking at his past data your broker will be able to provide you a realistic answer.
- How do you generally track market information?
You need to ensure that your broker is properly linked with listing service which is networked with many other firms of commercial real estate in that area.
The ability to get timely market information will be very essential part of successful marketing of any property.
- Tell me why should I hire you for my dealing with my property?
You must make sure whatever the broker answers to you for this question provides you complete satisfaction.