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    5 signs your real estate agent isn't good enough

    Real estate is a huge investment, so why would you trust an amateur to help you out?

    A commercial real estate transaction can either catapult or cripple your business. As one the highest expenses of healthcare practices, a real estate negotiation needs to be handled by an expert. One small mistake on a lease or purchase can cost hundreds of thousands of dollars.

    It is critical to have multiple options (whenever possible) so you don’t miss a good deal. Protect yourself and your business by identifying these five warning signs that you might be picking the wrong real estate agent.

    1. The agent only shows you one property at a time

    As a business owner, your time is extremely valuable. You should be looking at multiple properties and evaluating them simultaneously. This gives you leverage in your negotiations, back-up plans in the event your first choice doesn’t work out and a snapshot of the market in a competitive environment. Every landlord is different in their willingness to earn your business.

    Related article: 3 ways to manage your second-highest expense

    2. The agent is on the flyer of the space you are looking at

    dental operatoryYou are entitled to representation. If the agent you’re working with has a listing agreement with the landlord, their fiduciary responsibility is to maximize that landlords profit. They cannot represent the landlord and adequately represent your interests as well. Avoid conflicts of interest by signing an agreement with an agent that specializes in buyer/tenant representation.

    3. The agent is asking questions about your business that are obvious to anyone who knows your industry

    Questions like, “What do you want to offer? How long of a term do you want? And how long does your construction typically take?” These are red flags that demonstrates that they do not know your industry or the needs of your business.

    Medical and dental offices have specific electrical and mechanical needs that need to be addressed up front or they could be very costly.

    Related article: Why a broker may be beneficial for your next dental office lease negotiation

    It’s also important to remember that if they don’t understand your business and industry, they can’t sell the landlord on your value as a tenant.

    Carr Healthcare Realty
    Carr Healthcare Realty is the nation’s leading provider of commercial real estate services for healthcare tenants and buyers. Every ...


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