Experienced business leaders know that in order to succeed, you need a strong and efficient team working with you to achieve a common goal.
An organized team enables the Company, or Investors to access the specialized knowledge that each team member brings to the table, ensuring that decisions are made after a consummate evaluation of all aspects.
This kind of support is vital because often times, things in business can take an unexpected turn.
Commercial real estate industry is no different. If you want to maximize your odds for success in this business, you need to work with a competent team of experts who will help you scale your investment portfolio, or your business location decision without any hiccups.
And when we say ‘team’, we are referring to the following professionals every commercial real estate business needs on board:
Commercial Real Estate Broker
Some investors may like to believe that the best way to find the right property is to do everything on your own.
However, the truth is that an experienced broker can save you a lot of time and money, and minimize your risks. Even though in many cases the sellers pay the commission fee to the brokers, as a buyer, you’d be better off with a broker on your team. Here’s why:
First, not always, but sometimes, the good commercial properties are off the market (in other words, they are not listed). You wouldn’t even hear about these exclusive deals until the property has been sold off to someone else.
A commercial real estate broker is very well-connected with the trade – and you are not. If you want to find the best deals for your investment goals, or a business location, hiring a broker will be a smart decision.
Secondly, a commercial real estate broker is a skilled professional with a wealth of hands-on experience and knowledge that you simply won’t find anywhere else. Their experience and market knowledge can assist you in weighing the pros and cons of a deal.
Commercial Real Estate Attorney
A commercial real estate lawyer can do more than draw up the necessary documents for closing a deal. They can help reduce the number of risks that are generally associated with every business transaction.
You can also have your attorney draw up a template for standard paperwork, like a tenant lease, that you can use over and over again.
Another huge benefit of having a lawyer on your team is they can assist in making sure critical deadlines are met by the other party.
Whether you are leasing office space, or purchasing a building and/or doing substantial renovations to your existing building, it is a good idea to hire an architect.
An experienced architect knows the building codes and can expertly and efficiently help plan an office layout, or in the case of purchasing a building can assist in evaluating whether or not the building meets current codes.
An accountant can evaluate your company’s financial performance and strategic blueprint, and can help you decide whether buying real estate is the right decision at that point in time.
Having an accountant can also help you get financially ready for the purchase – by ensuring your budget is realistic and your financial statements are up-to-date.
They can also advise you on how to optimize your business transactions for tax purposes.
Technology Voice & Data Provider
Having a technology partner on your team is a benefit. They can assist you in evaluating a building as to whether, or not, there are any barriers that would inhibit the installation and use of the voice and data service your business, or your potential tenants would use.
An insurance agent is a significant part of every commercial real estate team since they make sure your business and assets are thoroughly protected should disaster strike. It is a good idea to have your insurance agent review the insurance language in any lease and sometimes for a purchase contract.
You invest a lot of time and money in growing your business, and you need a commercial insurance agent to help you weather any catastrophe – manmade or natural.
Choose the Services of Peggy Gallagher – A Top Real Estate Broker
“There are risks and complexities when you are shopping for real estate,” explains Peggy Gallagher, a CCIM Chapter member in Philadelphia. “Your circle of advisors can guide you and your business to make the right decisions and minimize business risk.”
Gallagher will be at the center of your real estate deal. She will work for you with your team of professionals to successfully conclude commercial real estate deals and to spend the necessary time with you as you go through the process.
You need to connect with a trusted real estate broker like Peggy Gallagher, and she will ensure all your commercial real estate needs are taken care of.