Don’t even think about swimming there
So you’re a residential specialist who wants to try commercial real estate on for size. Why? Because a client of yours wants to buy commercial space for his growing business, you’ve helped him with finding a home in the past and he figures- hey, why not ask you? You seemed to know what you were talking about last time we did a deal.
This is a recipe for disaster. For both the agent and her client. The person who came to me with this scenario was about to make a huge mistake. I urged her to hand it over to someone with some experience.
Commercial real estate is a totally different ball-game with rules that are more complicated, and players who are generally much more experienced than the average residential specialists.
And while the average residential deal sails smoothly from the contract, to counter, through inspections, to closing. The average commercial deal involves multiple lawyers on both sides, hard core negotiations, complex building code, tax issues, property valuation, and players who are accustomed to swimming with and surrounded by sharks. I’m not suggesting that these are unscrupulous people, just the opposite. These are players who respect experience and will not cut you any slack if you’re a residential rookie taking her first dip in commercial waters. Your mistakes will cost you money. Period.
Leave it to the experts. We like Barbara Jaynes at The Laramie Company. She’s tough, smart, and has 17 years experience.
Barbara’s info:
Barbara@laramiecompany.com, phone: 303-573-0302
And for those of you residential specialists who may think that we’re fishing for referral fees: we’re not. I’ve never liked referral fees, and I won’t take one for sending someone to Barbara. Our company policy is that we don’t pay out referral fees and we don’t accept them when we refer business to other brokers.
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