Why hire a commercial real estate broker
Why hire a commercial real estate broker? Do we even need brokers anymore?
Let me fill you in on a little secret about the real estate game…
We have reached a point where you can research and make all decisions by yourself. Technology provides us access to all of the necessary information to get deals done without assistance from anyone. Property owners, transaction histories, tenant information, etc. are available to all who have the internet or exposure to the various MLS databases. Have capital? Check. Have a pen? Check. Sign on the dotted line and the deal is yours.
Hell, the business still isn’t that easy.
There will always be a place for the “middle man” in business. Real estate brokers are often looked down upon by investors/owners as a necessary or unnecessary evil…(and there are plenty of commission junkies out there to reinforce those opinions.) But at the end of the day, there are still plenty of specialists in every market who are trustworthy and great at what they do.
First, let’s look at the real estate business from an entrepreneur’s perspective. The objective in this game is to come out of as many deals in the green as possible while building wealth, right? Great companies in any industry have the same goal. Leverage time, money, and resources to get business done efficiently and move on to the next deal. From an acquisitions standpoint, a broker costs you NOTHING 9 times out of 10. From a seller’s standpoint, a broker costs 6% (depending on the size of the deal) of the eventual sale price but NOTHING out of pocket until a deal is done. Can you argue that a broker will not be the most cost effective member of your team?
Let’s take a further look at why a broker should be an asset to your team:
A great broker puts deals in your lap and saves you the hassle of looking for them on your own. Research and analysis are typically the most tedious and time consuming activities in the real estate business and a broker will do it all day long to be part of your deal.
A broker will provide you their expertise at no cost in most cases. Also, a great broker is willing to challenge your ideas and opinions. People make a lot of money in this business. People also lose the shirts off their backs when deals go wrong. Not one person has a .1000 batting average so risk management sure as hell pays off, especially when its free up front.
This is a people business. You can use every app, website, or database for information but you are still dealing with another human being on the other side of the ring. There are plenty of interesting personalities out there and you won’t see eye to eye with all of them. A great broker gets along with people enough to curb emotions and have civilized conversation.
Not a bad deal huh?…
For more info about knowledgeable, trustworthy brokers in the Philadelphia/Greater Philadelphia market, reach out to Jim Baranello at Prime Realty Group, inc. 484.995.6114 or firstname.lastname@example.org