When selling or renting commercial property, to save costs it can be tempting to bypass the services of a commercial property agent and go it alone. In truth, it’s a complex process in which a lack of experience, limited contacts and market naivety can lead to some poor decisions that prove far more expensive in the long run than the commercial agent’s fee.
At Rory Mack Associates, as reputable commercial property agents our ultimate aim is to secure the best deal for our clients. We offer an unprecedented return on investment by saving our clients time and money. We negotiate on their behalf, and make sure the deal is agreed at the best price. There are many reasons why using an agent makes good commercial sense.
Why use a commercial agent instead of selling property yourself?
- The backing of a reputable commercial property agent will add credibility to your property negotiations. Buyers or their acquisition agents will feel less inclined to make below par offers or pitch unreasonable requests when dealing with an industry professional.
- Commercial property agents have a database of potential buyers.
- For commercial property sales in a specified area, a local commercial agent will know the current market rates and therefore provide a realistic valuation for your property.
- A commercial property agent has access to a range of valuable contacts. Upon receipt of your instruction they will promote your property to acquisition agents, property companies and investment groups that they deal with on a regular basis.
- As experienced negotiators, your commercial property agent will very probably secure a better price for your property than you could obtain yourself, and which more than covers their fee.
- Commercial agents have access to online property sites that are not available to Joe Public or other businesses, so they can advertise your property to a waiting audience of investors.
- Opportunities to market your own property are limited, whereas a commercial property agent will continuously promote your property through various media channels and therefore reach a much wider audience.
- Companies based overseas looking to invest in the UK will contact commercial property agents either directly or through investment agencies, rather than individuals with property to sell.
- The experience of your commercial property agent will help you avoid sale pitfalls that could prove costly.
- Your commercial agent will continue to work on your behalf after the sale has been agreed by answering any questions presented by the buyer or your own legal team and ensuring that the legal documentation is completed within agreed timescales.
Why use a commercial property agent to lease your property?
- Many of the reasons listed above will apply if you are looking to lease your property as opposed to selling it, and a commercial agent will be able to give expert advice in relation to a realistic rent and on what terms a lease should be written.
- Commercial property agents have a database of companies looking for new commercial premises. They will market the property on your behalf and check all applications to assess their financial position and overall suitability.
- Dealing with commercial tenants can be time-consuming. A commercial property agent will be their first port of call and will ensure that your property is leased on terms that best protect the asset and ensure that a tenant understands their repair and maintenance obligations.
- A commercial property agent, will also be able to manage your property after it is let, so that you don’t have to worry about rent collection, property inspections, maintenance, health and safety compliance or the serving of statutory notices.
- Employing a commercial property agent to manage your property will ensure that they look after the monthly, quarterly and annual accounting including VAT reporting, monthly statements and expenditure.
Get in touch
If you are considering selling or letting your commercial property, or looking to appoint an agent to manage your property, and would like to discuss the benefits of the service that Rory Mack Associates can offer, just get in touch for a no-obligation chat about your options and how we can help.