The rental market has been booming lately, and if you’ve considered dipping your toes into multifamily rental properties, make sure you’re fully prepared. Investors can use commercial real estate as a tremendous opportunity to make more money, but if they don’t do their homework they could find themselves regretting their investment. Find out why hiring a multifamily real estate specialist is worth it and what expertise an agent can provide to buyers.
The Advantages of Hiring a Commercial Real Estate Broker
There are many reasons to choose a commercial real estate (CRE) specialist over what we call a “generalist”, and many benefits to doing so. The KataLYST Team is made up of experienced real estate brokers in Des Moines, and we like to think of choosing a CRE specialist for your commercial real estate needs similarly to a patient choosing a doctor with certain specialties to diagnose and treat his or her condition. For example, you wouldn’t consult a general family practitioner about cancer or heart surgery, you’d seek out a specialist. At The KataLYST Team we are full of specialists to support your individual needs!
A commercial real estate broker specializes in commercial real estate. That’s obvious. However, if we break it down further, there are specialists for different types of commercial real estate properties, such as multifamily properties. Hiring a commercial real estate broker who specializes in the market you’re interested in exploring can benefit you and your business tremendously. Keep reading to learn more about why you should hire a commercial real estate specialist to help you find the right property to invest in and how to get the most out of it.
Industry knowledge and data – As a potential investor, it is important to keep in mind the vast differences between commercial real estate and residential real estate. A CRE broker who specializes in investment properties will be able to provide you with knowledge of the market that general brokers likely won’t have. They’ve spent years studying their particular area of commercial real estate and have experience working with other brokers in your area. A specialty real estate broker will know exactly how to find the best deals, and even have insider knowledge on deals that haven’t yet made it to the market. By relying on the expertise of a specialist real estate broker, you will have a major advantage when it comes to choosing the property that best suits your business’s needs and goals.
Access to their network and contacts – Commercial real estate specialists often work together over years and form professional relationships with one another. This can be a huge advantage for you as you partake on your journey to finding a property to invest in. Let’s say you have questions about other properties or investments. Because your broker has formed professional relationships with others in their market, they can find the answers for you. Access to your broker’s network could even land you a better deal because you will have more eyes and ears looking out for potential properties for you and your business.
Saves you time and money – Hiring a commercial real estate specialist can save you valuable time and money spent touring and viewing different properties. Their experience gives them knowledge about which properties are worth looking at and which aren’t before ever having to visit them. Plus, they’ll be able to reference data collected on commercial properties over time to infer which properties would require costly updates down the road based on past experiences. Don’t waste your time visiting properties on your own when a commercial real estate specialist can save you time and avoid unsuitable investments.
Will walk you through the steps to success – From the start of your investment journey, your broker will walk you through the steps to success helping you get the most out of your investments. Your real estate broker will represent you to the best of their ability and ensure you’re making the right decision for you and your business. They’ll take your experience, current portfolio, wealth management strategy and more into consideration when determining what investments are the right fit for you.
Know what terms to look for on contracts – Not only can a commercial real estate specialist share valuable knowledge about the market, but they can review and advise you on the legal work too. Let’s be honest, we can all walk through different properties and pretend we know what we’re looking for during a due diligence inspection. You might even have a good idea of what will make or break a deal for you. But, a specialist can tell you what isn’t there, such as information that a seller or agent has forgotten to show or even disclose. This information could very well be what ends up costing or saving you a lot of money in your investment. Make sure you’re on the saving end of this spectrum by hiring a specialty real estate broker.
Commercial Real Estate Brokers in Des Moines
The KataLYST Team’s Des Moines investment real estate brokers have years of experience in commercial real estate and can help you understand more about the industry. Reach out today to learn more and read about other commercial real estate trends. We look forward to working with you to create effective investment goals and strategies, and ultimately reach your commercial real estate goals.