When it comes to selling or leasing industrial property today, the client may consider bargaining when it comes to the commission structure. Whilst the logic may seem useful from the client perspective given that it can save some money, the reality of a lower commission in any sale or lease is that the agent will be less involved and less focused with the listing and the marketing campaign. That can then be a negative and time delaying factor for the client in resolving their property difficulty.
Small savings achieved through a discounted commission with an agent are nothing when compared to the major advantages achieved by the client or owner of the property through a well marketed industrial property campaign. Focused and well directed marketing campaigns will help the client achieve greater levels of enquiry, improved inspection rates, faster negotiations, the best price or rental, and a shortened time on market. A fair and reasonable commission structure allows an industrial property agent to commit to the marketing process for the client in a timely way and apply the necessary resources to do so.
Selling and leasing an industrial property can be a very specific process and require strategic steps and processes. Over time that can involve many hours of agent or broker activity; prospecting efforts, database review, and direct contact to the people who may have an interest in the property.
Most high quality industrial agents today will ask for exclusivity as part of the agency appointment. That exclusivity may extend for some months as part of allowing the agent to fully penetrate the necessary target market and implementing the comprehensive marketing campaign. Exclusivity allows that commitment to occur. Selling or leasing an industrial property is complex and not as straight forward as a residential property. Many issues should be thought through and controlled.
When selecting an agent to work on your property needs and challenges, be they for sale or lease, consider the following questions as part of agreeing to a listing with any industrial property brokerage:
So there are plenty of things for you to question and consider as a client and as part of choosing an agent to market your industrial property. These questions are far more relevant and serious than that of any necessity to discount the commission in the listing process.