Are You Getting the Most Out of Your Commercial Real Estate Broker?
Businesses Are Growing in Columbia, MO. Make Sure You Have the Commercial Property Best Suited to Your Needs
Located between Kansas City and St. Louis, Columbia, MO is the perfect middle ground for mid-Missourians wanting to live at a low cost but with the opportunity to explore cities nearby. In the U.S. Census of 2020, the population of Boone County has shown an increase of 12.9% in the past ten years! As of July 2021, the population of Columbia, MO is roughly 126,853. This, combined with Columbia’s high fluctuation of college students each year, can only mean business opportunities are expanding more than ever! If you’re a newcomer looking to start a business in Columbia, MO, you have an amazing chance to thrive; but you’re going to need a good location for your commercial property. This also means you’re going to need an experienced commercial real estate broker by your side who can help you avoid making the wrong decision. Here’s all you need to know on finding the right commercial real estate broker in mid-Missouri so your business can hit the ground running!
What Is a Broker & How Do They Help Me Rent Commercial Property in Columbia, MO?
If you are not super familiar with real estate jargon (as most people aren’t), you may be wondering, “What on earth is a commercial real estate broker?”. A commercial real estate broker is somebody who assists people with buying and selling retail spaces for lease in the mid-Missouri area. Think of them as the middleman between the person buying a property and the person selling it. First, you will discuss with the broker what kind of property you are looking for. They will tackle questions such as, “Are you opening a restaurant, or is it an office space?”, “How much space does this business require?”. After they have gained more context about your business, they will walk you through customer demographics to better understand who your business is targeted at. This factors into the location of your business depending on the population density of an area as well as the average income of people living there. A good broker will talk about budgeting and offer ideas that will meet your requirements while also staying within your budget.
Brokers in central Missouri start out as commercial real estate agents and earn their position through extra education and licensing, until eventually they can sell property from their own commercial real estate firm independently. Different brokers can work on different ends of the negotiation process. The main three commercial property brokers in the Columbia, MO area are landlord brokers, tenant brokers, and dual agents.
Types of commercial property brokers in mid-Missouri
Landlord commercial brokers in mid-Missouri
Some brokers work for landlords in the Columbia, MO area and search out tenants they think would be a good fit for renting out their property. Landlord brokers are also referred to as “listing brokers”, because they start looking for tenants when a landlord releases property listings. If a landlord broker approaches you about local commercial property in mid-Missouri, it would be wise to take their advice with a grain of salt, because they are most likely working in the interest of the landlord.
Tenant brokers in Columbia, MO & surrounding areas
Tenant brokers, as you might infer from the name, assist tenants as they look for commercial property in mid-Missouri. Also known as “tenant reps”, these brokers help clients find a property to meet their budget needs, amenity needs, and more! For example, if you’re on the hunt for office space for lease in Columbia, MO, Lindner Properties will send an experienced broker to discuss available commercial space in the local area, and what you can achieve under your current conditions. Tenant brokers also help potential tenants communicate with landlords by understanding the language of commercial real estate. Lindner Properties offers tenant representation in the mid-Missouri area to help business owners find the perfect location for their brick-and-mortar stores.
Dual commercial real estate agents work for both tenants & landlords in the mid-Missouri area
Some brokers will represent both the tenant and the landlord of a commercial property negotiation in the Columbia, MO area. These brokers are referred to as “dual agents”. The main benefits to working with a dual agent broker are a simplified transaction process, and extra insight on property for the buyer. However, all parties must agree, as there are some downsides to dual agency. Since the dual agent is working for both the buyer and the seller, a conflict of interest could be at hand, meaning they could be favoring one or the other.
What you should expect from a reliable commercial real estate broker in mid-Missouri
Now that you have a little more context on what a commercial property broker is and what they do, it’s time to discuss the qualities you should look for in a broker. Some commercial property brokers are certainly better than others, especially when it comes to honesty and experience. When something as important as your business is at stake, you need to work with someone who will make an effort in finding you the best retail space in Columbia, MO. If your commercial real estate broker doesn’t make you feel like a priority, there is no shame in switching to someone else. A good broker has notable experience, no conflicts of interest, advanced communication skills, and a favorable reputation.
Lindner Properties is mid-MO’s commercial real estate experts
Becoming a broker in mid-Missouri takes lots of education, training, and hands-on experience. From pre-license courses to the Missouri real estate licensing exam, it’s important for brokers to be knowledgeable on all aspects of commercial real estate. They will need to answer questions you have regarding net operating income, returns on investment, and more in a timely manner. It’s a good idea to ask your commercial broker how long they have worked in the business and decide for yourself whether or not this is the right fit for your business plans. A trustworthy commercial real estate broker should have no less than five years of experience.
You need an honest, transparent and helpful commercial realtor in the Columbia, MO area
Secondly, your commercial real estate broker should be able to provide you unbiased advice without any ulterior motives. Some brokers representing certain landlords in the mid-Missouri area may be trying to persuade you into renting one place over the other. With a good commercial broker, they will genuinely listen to your needs and try to find a commercial property to meet them. It is also important to find a broker specializing in the type of commercial property you are envisioning, whether it’s retail space for a store or an office location.
Consistent responsiveness & communication towards mid-Missouri commercial property buyers
Communication in any field is key, but it is vital for commercial real estate brokers in central Missouri. It is an immediate red flag if your broker is unresponsive for long periods of time. That means they are not treating you as a priority, and you deserve better for your local business in Columbia, MO. Make sure you work with a broker who is communicative and an active listener.
Good commercial property brokers in Columbia, MO are dedicated to customer satisfaction
Reputation is highly important. Ask around to find some of the best commercial real estate agents in Columbia, MO. Search for brokers on social media and look through their reviews on Google. The experiences of others can bring valuable insight to your decision making process. As you gather more and more information about brokers in mid-Missouri, it will become easier to narrow down your choices and determine who would best assist you in finding commercial property.
Lindner Properties Offers Some of the Best Commercial Spaces in Mid-Missouri. Contact Us About Available Properties Today!
We want the best for your business. Lindner Properties has been helping tenants find rental space in Columbia, Sedalia, and Jefferson City, MO for over 40 years. From the moment we first purchased the Forum Shopping Center to our latest expansion in Jefferson City, MO, our commercial real estate company has never compromised the incredible service we provide our clients. We promise to give you a restaurant space, retail space, or office space that will meet your needs and facilitate success for your business. We are affiliated with Colliers International, a leading national agency in commercial real estate operating in up to 66 countries! From one local business to another, call Lindner Properties for the best commercial property assistance in mid-Missouri.
