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Did you know that when you buy a commercial building that your interests cannot be fully and legally represented unless you have an agreement with a buyer's agent? Using a buyer's agent does not cost you anything; they will represent you alone and can assist you in all negotiations. In a typical scenario, a consumer buys a commercial building from a sales agent that is listing that building and does not use a buyer's agent to represent them. The buyer usually is told by the listing sales agent that they can assist them in finalizing the sales contract and the buyer feels as though they are represented. However, in this example, the buyer is not and cannot be represented at all by the listing sales agent. By law, this sales agent is representing the seller and cannot truly represent the buyer at all. In this sales example, which is very common, the listing sales agent must act as a neutral agent to both parties. So, in effect, neither party is fully represented or protected in this transaction. This is why it is very important for a commercial buyer to be fully and solely represented by using a buyer's agent.
A commercial buyer can use any real estate agent as a buyer's agent, but it is strongly recommended that you consider using a specialist buyer's agent. A specialist buyer's agent has extensive construction experience and inspection expertise that allows them to identify and find a buyer the best quality, most energy efficient building at the best price. Specialist buyer's agents are considered the experts in commercial buying because they know much more about construction and building features than any other sales agent.
A specialist buyer's agent with construction and inspection expertise offers specialized services to a buyer that standard sales agents may not offer. Some of these specialized buyer's services include:
- A thorough building inspection walkthrough inside and out to possibly identify items or issues that may need to be repaired or replaced
- Assist the buyer in price and features negotiations
- Assist the buyer in obtaining city inspection and survey reports for review
- Assist the buyer in obtaining the best financing
- Assist the buyer in recommending important inspections such as mold, termite, structural and mechanical
Remember, when you are ready to purchase your next commercial building, strongly consider partnering with a specialist buyer's agent who will fully represent and protect your buying interests and assist you in finding your next commercial property
Keith Worrel
Specialist Buyer's Agent
Advantage Consulting, LLC
(913)940-0395
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