Questions to Ask a Broker

On the search to find the best broker to help you sell/buy/lease? Here are the top questions to ask a commercial real estate broker.

1.What locations, cities, or specific neighborhoods are you most familiar with?

Your client is in need on an advisor who has an extensive knowledge base of the market that they are interested in. If they have multiple locations they are looking at a broker’s guidance is able to help narrow down what will best fit their clients needs.

2.Where do you see the market going right now?

Being able to help a client understand what the favorable possibilities are for the market now and the future will help decide what is the best decision for their business. 

3.What is your experience as a broker?

A client should never hesitate to ask a broker about their experience. Whether that is about success stories, number of completed deals, what kind of companies they have worked with, etc.

4.What are your specialties?

Brokers in commercial real estate specialize in particular property types. Whether its office, retail, warehouse, industrial, multifamily, or hospitality. If you and your property have a specific need that would benefit from a specialization, find a broker with the type of expertise that will give you the most value. 

5.Have you ever worked with a business like mine?

No two businesses are alike. Each has their own specific needs. However, if a broker has past experience with dealing with a company that was similar to yours it will help provide more accuracy to what you require. 

6.What will your broker services cost me?

It is standard for a broker’s compensation to funnel through either the property or landlord. There are certain exceptions to the practice based on who the broker is and what they are specifically doing.