Monday, 11 April 2016

On the topic of Commercial Real Estate

 

Hi gang.

We've been working diligently to start a new business in our area that we think will be first to market, and we have all other pieces finalized and set outside of arguably the biggest one - location.

We've attempted working with an agent that would help us find a place to fit our needs, but we are running into two snags. The first is that most properties never get back to us (which is in itself weird.) This may primarily due to landlord's agent not wanting to split commission since leases are potentially less profitable for an agent vs. a sale. The second is that once we do meet with an agent and landlord, they are very slow to communicate with us and responsiveness seems to be a problem. Again - not sure if this is done on purpose to dissuade tenants with agents.

Another thing I've run into is that there's a pretty decent amount of properties not listed that could potentially work. This might make sense since owner wouldn't have to pay a fee to get it listed.

Wondering if r/Entrepreneur has any advise on using a broker to find a location vs. going at it ourselves. Do realize that having a broker would have someone on our team that would work in our best interest (in addition to a lawyer,) but am wondering if commercial real estate is not friendly to that sort of environment.

Would love to hear your suggestions and feedback. Thanks!



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