In today's world, a company’s website reflects how they present themselves to their target market. In many ways, it is more important than their brick and mortar location.
Is their website suitable for the times?
At a quick glance, it is easy to tell if a website is well managed. It should be clean and easy to read. The look and feel should be modern, professional and well managed. Chances are, if the website is poorly managed, so is the business.
Is their website user friendly?
The company that takes the time and effort to make their website easy for the public to access will more than likely make their transactions easy to navigate as well. On the other side, if it is complex and difficult to read, their transactions could be the same.
Is the website informative?
The well-established firm will have much information geared to educate their clients and online traffic, in the field of Commercial Real Estate. They should definitely have a blog, but it should go beyond that. McCoy Wright Realty has a page dedicated to what is going on in the business world, not only in their focus area of Upstate S. Carolina, but in the entire state. They also have a page explaining certain acronyms which are common place within the industry such as CRE (Commercial Real Estate), NNN (triple Net), etc.. They have also shared links to local licensing agencies, county & city administrations, the local Chamber of Commerce and other key websites that will streamline the process for their clients and online readers.
2. LISTING PRESENTATION
Every listing should be visually appealing, easy to access and include the majority of the details about the property…it should not require the shopper to make a phone call to get the basic information. Many salesmen believe that withholding key information will get a shopper on the phone where they can begin a hard sell; that thinking is very yesteryear.
Today’s busy and savvy commercial real estate investor wants to have the information at their fingertips to help them decide if they want to inquire further. And the progressive Brokerage will understand this.
4. LOCAL OWNERSHIP
Has the company been local for long enough to fully understand the area?
A lot of the big Commercial Real Estate companies will target the smaller areas with their branches.
A company who has their ROOTS in an area (not just their BRANCHES) is likely to thoroughly understand that area.
They know who used to own what and who owns it now, and if they might be willing to sell.
They know what type of business is needed.
They know what type of business has failed, and usually have a grasp of why.
They know these things because they understand the heart of the local people, not just the real estate climate. Their roots go deep in their area of expertise.
The local REALTOR can guide the CRE investor through the local area in a manor that a less rooted company may not be able to. They can navigate through the need, not just the sale.
5. SIZE OF THE FIRM
For the smaller investor, it may be a wise decision not to choose the large firm who specializes in dealing with very high dollar clients. The smaller firm, though normally quite adept at representing larger clients, are far less likely to lose the smaller investor in the shuffle.
6. DIVERSITY IN THE INDUSTRY
What are their specialties?
If you have an industrial warehouse to sell, you want to make certain that the Commercial Real Estate company you hire has experience, as well as knowledge, in selling industrial warehouses. The different markets are very specific and a vast knowledge of the retail market will not help one bit with marketing an industrial property. A key to discover this is to look carefully at their listings, as well as their SOLD properties. Many progressive CRE firms have Agents who specialize: before deciding on an Agent, ask the Broker in Charge who is the most focused in that area.
Has the company weathered the storms?
If the only successes a Commercial Real Estate Company can brag on are between 2004-2008, the company may have simply been “in the right place at the right time”.The economy was so strong and lending so easy, anybody who opened a real estate door was flooded with business.Check to make sure the company weathered the storms before the bubble, and has weathered them after.
The progressive Commercial Real Estate Firm will encourage, and may even require, that their Agents further their education. Whether it is the CCIM Designation, seminars, webinars, one-on-one training, or all of the above. Ongoing education will set the savvy firm in a position for Success in the Commercial Real Estate Industry.
In closing, I know there is a lot more to consider, but I’ve tried to hit on the main components of what makes a qualified, progressive Commercial Real Estate Firm stand out. We wish you all the best in your CRE endeavors…and if you’re shopping in the Upstate, look up McCoy Wright Realty, Inc. We’d love to help.