Looking for a new business location? Here are six good reasons to work with a commercial broker.
Thinking about opening your own storefront or office, or looking for a larger location to expand your business? Some new or established business owners think they can save time and money by searching for a new location on their own. Unfortunately, many of them will lose precious time and money in the process – and may often hit dead ends.
Working with a commercial broker – whether buying or renting a business location – offers many benefits:
Time savings: If you want to do it on your own, be prepared to:
Drive around town or check online listings to find possible sites;
Call each site owner for more information;
Set a date and time to visit each site in person.
Local knowledge: Commercial brokers know the nuances of neighborhoods, including zoning, the pricing of comparable properties, as well as walking and vehicular traffic counts. They also know about regulations for construction permits, inspections and much more.
Good connections: A commercial broker who lives and works in the target market is connected to a vast array of contacts - including other agents, developers of new construction, and property owners. A well-connected commercial broker is an invaluable resource, especially if you are new to the area.
Financing: Commercial brokers often have connections to help you with financing, and knowledge of grants and incentives for small business owners.
Solid reputation: Many commercial property owners work exclusively with commercial brokers because they vet the qualifications of prospective buyers and renters, and arrange for site visits. Property owners typically pay the broker’s commission.
Continuing perks: Near the end of a commercial lease, a commercial broker can help you review your space needs to see if they have changed, and can recommend new options if necessary.
By Rob Nixon, Nixon McGowan Team at Casandra Properties
Rob Nixon and Brian McGowan are experienced commercial brokers that lead the Nixon McGowan Team, part of Casandra Properties. They both live and work in their native Staten Island, and have a vast network of connections and local expertise.
Casandra Properties is one of Staten Island’s leading real estate brokerages, recently named as one of the Top 10 Boutique Real Estate Firms by The Commercial Observer.