The first commercial property purchase is always the hardest. Take the time to read this advice.

When choosing between two different types of commercial properties, it’s best to look at things on a bigger scale. The difficulty in securing financing doesn’t increase linearly with the size of the building you are buying. Generally, this is similar to the principle of purchasing in bulk; if you purchase more units, you will end up getting a better price per unit.

When selecting a broker, find out the amount of experience they have with the commercial market. Look for brokers who specialize in commercial real estate. Once you’ve determined the broker is right for your needs, make sure any agreement into which you enter is an exclusive one.

List your real estate at a realistic price. There are a lot of factors that determine the value of the lot.

With the commercial property, you need to make sure there is easy access to the utilities. The property must have access to electric, water, sewer and maybe gas for it to be a viable commercial real estate purchase.

Commercial Property

Take the neighborhood into account when purchasing commercial property. You want to try to purchase commercial property in a neighborhood that is affluent so that you know your clientele are a little bit more well off and can spend more. On the other hand, if you are going to offer a product or service more popular with working class individuals, a less affluent neighborhood might be a better choice.

You need to advertise that your commercial property is for sale to both locally and non-local people. It is a mistake to think that only people in the immediate area will have an interest in your property. In many cases, a private investor will be interested in a property even if it’s not in their area, so long as its price is a good one.

A letter of intent should be simple to begin with, covering only the larger issues. Once an agreement on those terms are made, you can begin addressing the smaller issues. The initial negotiations will be less tense and the smaller issues will seem less important later.

Before you begin seeking commercial real estate property, be sure to identify your requirements. Think of any property features that are high priorities for you and list them down, like the number of restrooms and office, conference room availability and overall square footage.

Emergency maintenance should always be on your need to know list. One way to develop such a list is to ask current commercial investors who they use in the event of an emergency repair. Keep a list of phone numbers close to you, and make sure you select companies that answer quickly. Utilize the information given by your landlord to develop a plan for emergencies. This will help you ensure your reputation or customer service is not tarnished while your business is disrupted.

Commercial real estate agents come in different types. For example, full service brokers will work with landlords and tenants, while other brokers only represent tenants. Your needs will be served better if you choose the right broker for your own personal needs. If you are looking for one who knows the issues that are relevant to tenants, then choose a broker who has the most experience dealing with tenants.

You should apply the tips you have just read when selling or buying property. Use this advice to remain informed.