When Do You Need a Real Estate Broker?
A commercial real estate broker helps clients with purchase, sales and leasing of properties. A key difference between a broker and an agent is that brokers obtain licenses to run their own real estate companies. Those usually include agents.
What does a broker do?
- Brokers look for properties to buy or sell. They are seeking agreements from building owners to allow them to market their sites for sale. The agents in the firm will also look for such properties, but their main role is to find properties for prospective buyers and find buyers for sellers. The broker works with the agents to make sure the clients get the best possible service.
- The broker can handle the details for the listing and the transaction and pays a commission to the agent for each property they sell.
- Some brokers work for landlords. In the most common leasing scenario, the landlord lists space with a broker who then seeks tenants to fill it. The typical commission is 3 percent of rent during the life of the lease.
- There are also brokers who special in representing tenants. Their role is to ensure they get the best possible deal when they sign a lease.
- There are also brokers who work with both landlords and tenants. They can do the job for tenants without a conflict unless their firm holds the listing for the space, which would be a potential conflict.
So why should you contact a broker?
- Brokers have access to marketing tools that will help the owner of commercial real estate to sell the property. The property-for-sale will get more exposure through a broker than if the owners tried to sell it on their own.
- The broker knows the local market and can advise the owner on the pricing for a quick sale.
If you are buying or selling and need the services of a real estate broker in Culver City or elsewhere in the L.A. area, you will want to call SWI Realty Inc., one of the area’s leading boutique firms. (310) 204-8971 or you can email your queries to firstname.lastname@example.org. SWI, or Success with Integrity, serves Los Angeles from Hollywood to Mar Vista and elsewhere.