If you’ve never done it before, you’ll quickly discover that buying commercial property is a whole different animal from buying a residential property. You can do it yourself – a lot of people do. But for the inexperienced or time-constrained, buying commercial property without an agent can present a host of challenges, not least of which is finding the right property. That’s why most commercial property buyers, even experienced investors, rely on the knowledge and expertise of an agent. So let’s take a look at 5 reasons you need an agent when buying commercial property in Northern Kentucky.
1. Market Knowledge
As we mentioned, commercial real estate is very different in many ways from residential real estate. Buyers’ and sellers’ needs are different, and the market is very different. And that’s why it’s so critical to have an experienced agent for buying commercial property in Northern Kentucky.
Agents who specialize in commercial real estate keep a close eye on this market and, as a result, know where to get the best deals, which is critical for buyer-investors. In addition, a good agent will likely have insider knowledge about deals that aren’t even on the market yet. And this gives you, as a commercial real estate buyer, the chance to be first in line and beat out the competition.
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2. Listing Access
In addition to extensive market knowledge, your agent will have access to listings that you probably couldn’t access on your own. Typically, commercial real estate listings aren’t as centralized as those for residential real estate, and this often makes finding the right commercial property more than a little challenging.
When buying commercial property in Northern Kentucky, you can’t just go to the MLS to see what’s available, as you can for residential property. While there are several different listing platforms for commercial real estate, only a couple or a handful at most are open to the general public.
The upshot of this is that without an agent you simply won’t have access to a large portion of the listings for commercial property. Your Northern Kentucky agent will, however, have access to those listings and can help you find potential properties that meet your requirements.
3. Contacts and Network
A good agent will also have many contacts within the industry and abroad professional network. Your Northern Kentucky agent will be in constant contact with movers and shakers in the commercial real estate arena. And this can be a huge benefit when you’re buying commercial property in Northern Kentucky.
Your agent’s close connections with property owners, investors, colleagues, and municipal officials, as well as her access to properties that aren’t yet listed, will afford you the opportunity to find better deals more quickly.
4. Money Savings
Using an agent when buying a commercial property in Northern Kentucky can also save you money – sometimes a lot.
The money-saving potential of an agent lies chiefly in the negotiating expertise. Negotiating on commercial real estate is a far more complex affair than negotiating for residential real estate. Most buyers are unaware of current market trends and current best practices in negotiating. It’s your agent’s job to stay on top of these trends and to adapt her negotiating strategies accordingly to get you the best deal possible.
5. Time Savings
In addition, using an agent for buying a commercial property in Northern Kentucky can save you time, which is another form of money, as the old adage tells us.
If you are an investor, you’re already wearing a number of business hats. So you don’t really have time to run your business effectively and search for and negotiate on properties. Your agent can handle these duties for you, thus saving you time to devote to other aspects of your business.
Team Sztanyo is Your Trusted Guide in Buying a Commercial Property in Northern Kentucky
It should be fairly apparent by now that not only can an agent provide valuable assistance in the purchase of commercial property, but that you need an agent to help you find what you want and to save money and time. Don’t take a chance. If buying commercial property in Northern Kentucky is your goal, contact us today at (513) 813-6293.
If you have questions like: Why do you need a commercial real estate agent?
Why do I need a buying agent? Then reach out to us! When you call our hotline, you’ll be connected with our real estate expert who will listen to the specifics of your situation before making recommendations and answering any questions you have.