By Paul White, Agency Director at Garness Jones
Business owners often think acquiring or letting a commercial property will be a simple process whereby they simply have to meet the asking price to secure the premises they desire.
However, the reality is that any commercial property transaction should follow a significant amount of work behind the scenes to make sure the deal works in the long-term interests of both the owner and buyer or tenant, with a number of hurdles to be overcome to make sure that is the case.
In our experience, it can sometimes prove a challenging task, but the process can run smoothly if you work in a transparent manner, with all parties coming to the table with realistic aims, based on the advice of experienced property professionals.
With more than 25 years’ experience of working in the Yorkshire and Lincolnshire commercial property market, our team at Garness Jones is currently recruiting for new team members as we continue to grow and expand.
As part of the recruitment process, we’ve reflected and asked ourselves the question of what makes really a good commercial property agent?
Here’s what we feel are the key qualities people should seek when in need of commercial property advice.
- Experience & expertise
It should go without saying, but using experienced commercial property agents is a must. It simply doesn’t make sense to ask advice of someone who mainly works in the residential market.
They’re highly unlikely to have an in-depth understanding of the office, retail, industrial or other commercial property space.
We know our clients appreciate being able to draw on more than 25 years of knowledge and experience of the commercial property market across our region.
The name Garness Jones is synonymous with commercial property and we are proud of that fact, and how we’ve helped hundreds of companies to find the right location to thrive and grow.
- Extensive local knowledge
If you’re looking for a property in a specific location, it’s usually better to appoint a local firm with specialist knowledge of the area.
Once instructed, you’ll be able to tap into their existing contacts and networks to ensure you get the perfect space – on the best terms.
For a localised search, smaller regional agents tend to know more than national agents when it comes to the best locations and market values.
If you want to find a commercial property in Hull or the Humber region, we believe we’re the best agency to use for unrivalled advice and support.
If you’re conducting a nationwide hunt for somewhere to invest, a bigger national firm might be more appropriate. To maintain our integrity, we would always be up front and honest about the best route to take.
- Values & integrity
Every experienced Chartered Surveyor will fully understand the commercial buying, selling and lettings market. If they’re members of the Royal Institute of Chartered Surveyors, they are also able to conduct the universally-recognised Red Book report.
Not all Chartered Surveyors are comfortable conducting negotiations where they have to represent multiple parties in the same deal.
We’re proud to represent buyers, sellers, investors, developers and landlords. We believe that clients trust us to do this because of our professionalism and integrity.
Whether it’s a new tenancy agreement or a multi-million-pound investment opportunity, we’re happy to advise and pursue the best arrangement for both parties.
If you’re looking to form a long-term partnership with a commercial property agency, ask how they would feel if they had to provide this type of assistance.
Having local market knowledge is great. But if they cannot rise to a challenge, they might not be the best fit for you.
- Rent & lease renewal know-how
In our experience, the role of a commercial property agent is far more than just finding the right property. Negotiating lease renewals and conducting rent reviews forms a large part of the day job.
Whilst landlords are legally allowed to deal directly with tenants, negotiations are typically overseen by a Chartered Surveyor.
Without enlisting the right professional help, it can become a stressful process for all parties to navigate.
Our team always seeks to minimise the hassle by valuing a property and researching the local market. We then provide an objective and detailed assessment about what would be a ‘fair’ amount to pay.
Should a landlord and tenant fail to reach a suitable agreement, we can provide professional submissions and representation in a bid achieve an amicable conclusion.
Sometimes, it is necessary to combine the expert advice of a Chartered Surveyor with the skills of a solicitor who specialises in commercial property. If this is the best approach to take, a good commercial property agent should inform you of this as early as possible.
- Proactive investment advice
Whether you’re planning to acquire a commercial property investment or a place to occupy (rent or buy), it’s wise to choose an agency aligned to your ambitions.
In our experience, this will ensure your assets are properly managed and go on to achieve their full potential.
Working with an established agency that has a team of Chartered Surveyors will usually provide you with far more expertise – especially when it comes to strategic property investment.
Our asset management experts help landlords and investors to extract maximum value and revenue from their property. If required, we can provide support and advice on a wide range of matters – including new-build developments, refurbishments and change of use.
The role of a good commercial property agent is to provide reassurance and expert guidance for wherever your commercial property journey takes you.
That is what we will continue to do.
