The real estate industry is a confusing and high-pressure field and no one is born an expert, mainly when the real estate goals of those investing often differ. Those who want to invest in property will have their reasons for investing.
For some, they may want to start a current business and build an establishment for leasing, providing them adequate passive income. In some cases, some like to diversify their investment portfolio to mitigate the risk of their investments.
Hiring a Real Estate Broker Can Simplify Your Investments
Whatever reason you may have for your first commercial real estate venture, the first and one of the most crucial things to do is to find yourself a credible broker. For newbie real estate investors in the Kentucky area, you must look for a trusted Owensboro real estate agent or broker to ensure that they know the game of the real estate field in the area.
This way, you’ll be making the right choices for investments and lower the risk of financial burdens.
In this article, we’ll share with you everything you need to know about hiring a real estate broker — the different types of real estate professionals, why you should work with a broker, the advantages you gain, and more. Let’s take a look!
The Difference Between Real Estate Agents, Realtors, and Brokers
When you’re diving into the real estate field, you’ll most likely have encountered different terms and professionals, like a real estate agent, broker, realtors, and more. Although some of these professions overlap, there are some distinct duties and responsibilities each one holds.
- Real Estate Agent: A licensed individual who helps connect buyers and sellers to negotiate the sale of a property. They also know the ins and outs of any sale and should properly communicate all requirements to help you close the deal. Real estate agents often work with a firm.
- Real Estate Broker: The great thing about brokers is that they have additional education and licenses that allow them to work independently. Because of that, they can form a collection of agents. Additionally, they can find properties that match a client’s needs and help with negotiations as well.
- Realtors: Realtors are any real estate professionals who are a member of the National Association of Realtors. So basically, brokers and agents fall under this category, too.
What Are the Advantages of Working with a Broker?
- Access to the Real Estate Network: Brokers have built years of building relationships and creating deals. This means they are aware of every building that’s entering the market.
- They Are Aware of the Laws and Regulations: Commercial real estate is pretty complex. With a broker, they’ll find a property that’ll suit your needs and align with the city’s ordinances. This will help you move quickly and buy properties smoothly, reducing legal complications.
- Excellent Negotiator, Mediator, and Communicator: Real estate brokers have years of experience, and because of that, they can help you create a great deal for your lease.
- Provide Helpful Reports: Thanks to years of experience, brokers can help you research and evaluate an area and property, allowing you to see the potential of the space, create estimates for costs and figure out future expenses.
Three Important Qualities of a Real Estate Broker
- Impressive Credentials and Expertise: You want to work with a broker or real estate agent who is an expert in commercial real estate. Remember — commercial real estate is vastly different from residential real estate, given that there are more things you need to consider and invest in.
- Established in the Town You Choose: You want to work with a broker or agent who knows the ins and outs of the local market to ensure that you’re getting a solid deal and investment.
- Works Exclusively with Tenants: If you want to own a property, choose a broker who works with landlords, too.
The Bottom Line: If You’re Jumping into Commercial Real Estate, Take the Leap with a Real Estate Broker
With anything that has to do with real estate, it’s best to work with a real estate agent and broker to ensure that you’re investing in the right property and would give you high returns. Sure, starting a business can be thrilling, but it’s always wise to work with experts to ensure you’re venture flies.
Why Work with Us?
As mentioned earlier, real estate is pretty complex. For this reason, you want to work with a trusted real estate broker or real estate agent in Owensboro — that’s where we come in.
Here at The Blake Hayden Group, we are committed to guiding our clients in the ever-evolving real estate market. Whether you’re a home buyer, investor, commercial landlord, tenant, or curious about the marker, we got you covered. Speak to one of our agents today!