They say that “commercial real estate is a different animal”, how so? Scott: There is so much that goes into putting a commercial deal together that really can’t be “taught” in traditional classes. It just takes experience. You have to understand zoning, drainage requirements, all sorts of things. It is skill set, what type of qualifications should a seller or buyer look for in a commercial agent? Joe: Experience. It really counts. I grew up farming and understand land. I think getting into commercial and land sales can be hard for someone without already having a background in land in order to know what folks are looking for. That stuff is hard to teach. Not saying it can’t be done, but it’s hard to start from the very beginning. quite literally a different vocabulary. People may not know that some commercial deals can take a long time to pull together, we are talking up to a year or more. And the agent is working that deal the whole time. Often, I have to go before city councils on behalf of the client to ask for new zoning or sewer access. You can’t fake it ‘til you make it in commercial sales. Joe: (laughing), Yes, that’s right. You better know your stuff. When a developer or high end buyer calls and starts asking specific questions, you better know the answer or they will move on to another agent real quick. With commercial deals requiring a different 43 Scott: That’s Right, Joe, I think folks need to look for someone who can walk the walk when it comes time to put pen to paper. Having access to commercial websites and listing sites is super important, especially for sellers. Getting a property marketed properly is a different ball game for commercial and large land tracts. You can’t just put it in the MLS (Multiple Listing Service) and install a sign out front. Having good contacts at the cities, counties and development authorities also really helps lend credibility to an agent. Joe Medows Associate Broker CB Free Realty O: 478-218-8052 C: 478-697-3448 joemedowsjr@cbfreerealty.com
44 Publizr Home