Do they offer a full range of CRE services?
Commercial real estate transactions are complicated and often involve many business lines, such as landlord representation, tenant representation, property management, investment sales, and so on. Therefore, you’ll want to keep in mind how efficient a real estate company can be when it comes to offering multiple service lines. Alternatively, there can also be value to certain business owners or investors to find a property-type (e.g. industrial or office only) or transaction-type specialist (e.g. 1031 Exchange or Tenant Rep only)
It is true that outsourcing is an option, but that can lengthen project times and adds complexity to the transaction. If you desire a SPOC (Single Point Of Contact) for ease of communication and accountability, you might be best served by engaging a brokerage firm offering many or all CRE service lines in the Denver market.
Are the brokers certified, local experts?
Anyone can sell commercial real estate if they have a real estate license. But that doesn’t mean they’re the right person for your job or project. When dealing with CRE especially, it pays off to have an experienced, CCIM-certified broker with an in-depth knowledge of the local, regional, and even national markets working on your behalf. Leveraging their technological tools, experience in many different markets as well as local area expertise is a crucial element in a successful CRE transaction.
Do they have your best interests in mind?
It’s no secret that commission-based real estate companies don’t make money if they don’t close deals. That said, it’s incredibly important to make sure you work with a reputable CRE brokerage firm that has your best interests in mind. They absolutely need to be willing and able to walk away from a bad deal (even when it costs the broker a commission). Be sure to do your due diligence and read past client reviews to ensure your brokers will put you and your needs first. If your broker does not treat your money like it is the broker’s money, you should keep seeking a better fit to represent your interests.
Have they been there before?
The economy will always have ups and downs, some of which are unpredictable (take the COVID-19 pandemic for instance). And when the economy fluctuates, so can the real estate market in certain, impacted locations. Although many real estate professionals will try to predict these cycles, no one can know for certain (unless they keep a crystal-ball under their desk). For that reason, it’s best to work with CRE brokers who guard against the highs and lows of the market and practice reason, discretion, and use sound judgment. It’s worth seeking out those who have experience in turbulent times (e.g. Y2K, 9/11, 2008 Mortgage Meltdown, COVID-19) and haven’t shied away from a challenging economic climate...Experience matters.
Is there a personality fit?
Lastly, you’ll want to make sure you get along with your potential broker. Commercial real estate transactions can take months—if not years—to be finalized. You’re going to spend a lot of time with whoever you engage. You’ll also have to give them a considerable amount of trust. Ask a candidate broker what his/her values are. How have they dealt with ethical, moral, or business challenges to the benefit of their client? As such, it’s important to ensure there is a personality and ethical/values fit before you sign any representation agreements.
Work with one of the top commercial real estate companies in Denver
We know the search for commercial real estate companies in Denver can seem daunting. But it doesn’t have to be. If you’re looking for an experienced, honest, servant-minded brokerage firm that will always put your interests first, reach out to us at Fountainhead Commercial.
With more than 40 years of experience, we are well-versed in every type of real estate transaction.
Contact us today to learn more about our CRE services and how we can benefit you!