What Not to Look For When Hiring a CRE Broker in Baton Rouge
Congratulations! You’ve taken the first step in the right direction by deciding to hire a licensed commercial real estate professional. Now what? When searching for CRE Brokers in Baton Rouge, or wherever your needs are geographically located, you will quickly notice that there are a lot of us. Competition is great, especially for the client, but how do you weed out the CRE Broker that is right for you? Furthermore, right for your exact needs?
In the following article we will guide you through the filtering process for finding your perfect CRE Broker in Baton Rouge, and beyond. Instead of showing you what to look for, we share the common claims by Brokers to avoid. If you steer clear of the below, you will be a happier client…seeing happier returns.
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I Specialize…In Everything
You’ve heard of a “Jack of All Trades”, which is great quality if you are handyman, not so much in specialized commercial real estate. It should be a red flag when a CRE Broker says they’re an expert in Industrial, Office, Retail, Multifamily, Auction, Land, NNN and Self-Storage. If that is the case you will get someone who knows a little about everything, but not a lot about what you need. We aren’t saying general transactional knowledge in each sector of CRE is a bad thing, it just doesn’t provide for the expert skill set you should require for your asset.
Each sector in commercial real estate has its own nuisances and complications so it’s best to choose a CRE Broker that has a verifiable history of consultation and transactions in your specific asset class.
I Will Sell Your Asset the Fastest
Obviously when you are selling an asset, you want it to be fast as no one wants a building that sits on market for months and months. The question to ask is, “Great this is selling super fast…but at what cost?” Often times when a deal seems too good to be true it is. Either the client’s time is wasted by chasing down rabbit holes of deals that we’re never going to happen in the first place or they get the lowest price for their asset leaving tons of money on the table.
A great CRE Broker won’t make you promises they can’t keep as they know that sometimes it pays to take the long road. This way they ensure they have the right buyer, the right transaction and the right return on their client’s investment.
I am the Only CRE Broker in Baton Rouge I Need
This is hands-down our biggest red flag and Broker to avoid. Yes, CRE Brokers in Baton Rouge work for commission and sometimes this leads to wanting their cake and eating it too – on both sides of the deal. Just know this: A great CRE Broker will never attempt to facilitate a successful transaction for a client alone. This is the principal that SVN/Graham, Langlois and Legendre was founded on, we call it the SVN Difference and it’s all about compensated cooperation. Compensated cooperation takes place when a broker markets your property to the ENTIRE brokerage community getting their clients more offers, in less time, resulting in the highest return possible.
Still Look for a CRE Broker? You can certainly find a good CRE broker in Baton Rouge, but you can also count on coming across the brokers who are less than ideal, talked about in the description above. If you want more information about what to look for in a quality broker, or about the compensated cooperation program, feel free to give us a call. Also, if you found this post helpful, please click the tweet button below!
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About Us – The team at SVN/Graham, Langlois and Legendre has over 99-years of combined experiencing helping clients across the Baton Rouge area get the most value out of their CRE investment. Contact one of them today with any questions you may have and start seeing the returns in a market that will make sure to give today, tomorrow and for the extended future. To reach us, you can call us at 225-367-1515 or you can send us a message on our website. You can also follow us on Twitter at @svngll or on Facebook.