What should you look for in a commercial property agent?

By Greg Bell

What are your real estate goals? Are they to buy commercial property for sale in Surfers Paradise and let it out to a local business? With more than 405,000 in the state at the Queensland government's last count, you're sure to find one right for you.

Or perhaps you run a business yourself, and are looking at retail leasing on the Gold Coast to tap into the lucrative tourism market. After all, the Queensland Tourism Industry Council noted that the year ending March 2015 was the best on record for visitor expenditure. It's a solid revenue stream to tap into!

Whatever your goal might be, chances are you'll require the services of a real estate agent to get it done. But what should you be looking for when you seek someone out to represent you?

The skills to negotiate

Who better to interview about good selling agent qualities than people who have just completed a sale with one? The CoreLogic Consumer Perceptions of Real Estate Agents did just this, asking 300 Australians for their thoughts on real estate agents that helped them sell a home. While the judgments come from the other side of the negotiating table to you, the main qualities should be the same.

One of the fundamentals of a good agent gleaned from the survey was the ability to negotiate. As it turns out, 12 per cent of respondents said their agent wasn't up to scratch at the negotiating table. When you're looking to buy commercial property on the Gold Coast, rental yields are going to be better than when you buy residential, but you still want the best price possible.

Working with an experienced agent that understands the market, the true value of a property and will help you get a great deal is essential!

Working for the consumer

This seems like common sense, but a surprising amount of Australian businesses actually fall short on customer service. The CoreLogic survey found that 11 per cent of respondents thought their selling agent's customer service was below standard. It's a minority, but hardly an insignificant one.

One particular situation that infuriated sellers was when agents churned a property, switching sides between the buyer and vendor as negotiations went on. The Australian Competition and Consumer Commission outlines behaviours that agents should adhere to, including fair and accurate information on pricing, as well as just quoting.

Good service is a must – don't settle for less.

Chasing up the details

Another issue that many vendors had was when agents didn't follow up on the paperwork once a sale was completed. This can be particularly tedious for those who are inexperienced in dealing with commercial property on the Gold Coast, and frustrates what could otherwise be a smooth transaction.

Property transactions don't stop once the dotted line is signed, and at Ray White Surfers Paradise we understand that. There are title transfers, conveyancing matters and more to be dealt with that can prove to be a real hassle. We've been working in the area for decades, however, and understand these issues intimately.

Pick a performer

When you're in the market for industrial property on the Gold Coast or anything similar, word of mouth can be powerful. The CoreLogic survey indicated that 68 per cent of participants were happy to recommend an agent to others if they had a good experience.

When you're in the market for commercial real estate in our part of the world, we'd like to think the Ray White name crops up regularly. To find out more about our excellent service and how to get access to any kind of commercial real estate, don't hesitate to get in touch.

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