Tips to Hire a Commercial Property Inspector

Hiring a commercial property inspector is an important part of buying, selling, or owning a building. Having relevant and accurate information regarding the state of a building can be helpful in each of these circumstances:

1. When an individual is preparing to purchase a building and wants to know the true state and value of their investment.

2. When an individual already owns a building, but wants to know the condition of their building, enabling them to take preventative care measures or reevaluate their investment.

3. When an individual is preparing to sell a building and wants to know the true state and value of their investment.

In each of these circumstances, the property-owning individual requires information that can only be provided by a commercial property inspector, making the process of hiring a commercial property inspector rather important. The tips included in this article are therefore intended to help commercial buyers, investors, and owners gain an accurate evaluation of their investment in order to protect and grow their investment portfolio.

Six Tips:

1. First and foremost, it is crucial to make sure that your commercial property inspector is licensed, whether by National Property Inspections, the International Code Council, the National Association of Certified Home Inspectors, the state, or another reputable and trusted standards association.

2. Do your research. Social media sites like Yelp and Google Reviews provide unfiltered reviews of commercial property inspection businesses. Though business owners can control the reviews that appear on their company website, they cannot control the reviews posted about their business on social media sites like the examples above. These are the best places to get a feel for the businesses you’re considering; however, don’t let one bad review rule out a company – look for a general consensus.

3. Do more research! Follow up on the company’s references. Of course the references that any business owner provides you with will have a positive review to share, but they may be able to answer specific questions that you have regarding work styles, principles, and other miscellaneous concerns.

4. Make sure that your commercial property inspector’s equipment is updated and conforms to current standards of practice. Advances in technology, such as thermal imaging systems, have bettered an inspector’s ability to identify water and air leaks, and should be on your list of requirements. Further, make sure that your commercial property inspector has adequate training to use advanced equipment – ask for credentials!

5. Discuss payment options. Some commercial and home inspectors are small, often family-owned, businesses and may not have the ability to take credit cards. If you plan on paying by credit card, make your intentions known early on so that you may decide to choose another company or another payment option.

6. Communicate effectively. Be clear about your expectations for the commercial property inspection and discuss obstacles. Inspectors are not expected to move potentially harmful objects, such as heavy machinery or hazardous materials.

If you are unsure of whether to hire a commercial property inspector or not, make the smart decision and move forward with an inspection. For property owners, preventative maintenance is always more cost effective than repairs, which may also stall productivity. Additionally, whether you are interested in buying or selling commercial property, an inspection will give you the information you need to accurately assess your investments.

Tips to Hire a Commercial Real Estate Agent

If you don’t want to handle your relocation project or commercial lease renewal yourself, you can go to a commercial real estate agent. All you have to do is choose the right professional for your needs. Given below are 6 things you may want to consider during your evaluation. Read on.

Likability

A relocation or lease renewal is similar to a construction project. The difference is that it takes a bit longer than expected. So, it’s a good idea to go with someone who you like. This way you will enjoy throughout your journey and the process of negotiation may also go well.

Trust

Make sure the professional agent that you are going to hire can be trusted. It may be difficult to find out who can be trusted but it can be done during the interview. By asking a few relevant questions during the interview, you can get a pretty good idea as if they are trustworthy or not.

Conflicts of Interest

What does a conflict occurs? Actually, the conflict may occur when you go with an agent who already is a representative of many property owners in the same area. Now, the agent wants to serve you despite that the fact that they have given their word to the property owners that they will find a way to earn them the highest rate of rent possible. So, you may want to get a clear idea of the conflict severity and its importance for you.

Experience

Experience of the agent is of utmost importance as far as choosing the best professional is concerned. Ideally, it’s a good idea to go with a commercial real estate agent who has over 10 years of experience in the field. Their grey hair may be a sign that they have been in this business for years. You can ask about their experience during the interview.

Age

Age of the professional should not be taken as an evidence of their experience in the field. The million dollar question is how long have they been actively involved in the business. You need to keep in mind that commercial real estate is on the list of those businesses that people do part time. So, make sure you choose a professional who has been working full time as an agent. What matters is experience not the age of the agent. After all, age is just a number.

Specialization

Typically agents specialize in two ways. They can do it by industry vertical or location. As far as importance is concerned, location specialization carries more weight. An agent with location specialization has a pretty good idea of what is happening in the market. They know about the best deals and best property owners. Aside from this, their negotiation style is pretty impressive.

Long story short, if you have been thinking of hiring the services of the best commercial real estate agent, we suggest that you take these factors into consideration. This will help you choose the best service provider.