National Brokers Network

Questions that need asking before hiring a commercial real estate broker



If you are a business owner looking to get an office space, you need to read this. It could be that your search for an agent landed you here, and that’s great because today, you will find out what you need to look for in a commercial real estate broker.

Here are important questions you need to ask potential brokers you are considering to hire.

1.How many years have you been a broker in the commercial real estate industry?
2.Do you have any specialisations?
3.What would you consider to be the “defining deal” of your career?
4.What advantage do you have over other commercial real estate brokers?
5.Can you describe the neighbourhoods you represent?

Apart from these, you must also ask if the broker has an updated license because they are required to have that if they are practising. Since you will be forging a business partnership with this individual, you need to make sure you ask all the important questions to ensure you will have a good working relationship from beginning to end.

A good broker also needs to be aware of the current trends in the market. Ask about the latest news and updates to check the person’s knowledge and diligence in keeping up with what’s happening in the industry.

If you follow these tips (and your gut instincts, of course) you should not encounter many issues not only in seeking out the best commercial property broker, but in your search for the most suitable office for your business as well.

Confidentiality Agreement

In Consideration of the Vendor of the subject business, or any other business introduced to the Proposed Purchaser and their agent National Brokers Network (“the agent”) providing information to the Prospective Purchaser, the Prospective Purchaser agrees:

1. To keep all information provided confidential in respect to the subject business and any other business introduced to the Prospective Purchaser by the Agent.
2. That no information is to be disclosed by the Prospective Purchaser to any third party without consent by the Agent;
3. That it will not use for themselves. Or for others benefit, such information other than to Purchase the subject business or other business introduced by the Agent;
4. That any agreement to purchase the whole or portion of the business shall be exclusively through the Agent;
5. To immediately return to the Agent all such information and other details in written form including any drawings and any copies made of written information, notes, summaries or extracts of any document therefor if any when requested by the Agent;
6. Under no circumstances will the Prospective Purchaser make direct contact with the vendor of the subject business or other introduced business without the prior written consent of the Agent;
7. If the Prospective Purchaser breaches this agreement or buys the business direct from the Vendor, the Prospective purchaser is liable to and indemnifies the Agent for any and all losses the agent may incur including economic loss and loss of income.v

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