Tuesday, September 6, 2011

Buyer Representation for Commercial Real Estate

If you are looking for someone to help you find and contract for commercial space/property, you probably will get several personal references of agents, or you may just drive around like the Buyers of residential real estate do until you find a property and contact the listing agent - then what?

Just as in residential real estate, this approach may be too late and tie the hands of the agent you ultimately obtain to help protect your rights.

I am not a member of either of these two groups, but saw an article in the Atlanta Business Chronicle about them dated March 18-24, 2011 (Page 2B).  It talked about finding the right representative that fits your needs and niche of what you're looking for in  commercial office, retail, warehouse or professional space regarding the acquisition/leasing, use, and disposition of what you need.

How is your representative protecting you with clauses for things in the future like bankruptcy, expansion, contraction,or forces beyond your control?

If you are looking for buyer representation as buyers or tenants in commercial real estate, you may want to contact someone in the International Tenant Representative Alliance (ITRA). (http://www.itraglobal.com/)

Another professional trade organization following a set of standards that assists you when evaluating your commercial property acquisition, use and disposal needs is the Counselors of Real Estate (CRE). (http://www.cre.org/ )

You can also try to contact a professional commercial real estate agent through the National Association of Realtors (NAR). (http://www.realtor.org/commercial)

References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.

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