From Walt Arnold, CCIM, SIOR | Albuquerque NM
Click HERE to listen to the Commercial Real Estate Report for 7-26-10!
Bob Clark, News Radio 770 KKOB: Walt, if I needed to hire a commercial real estate broker, what skills and abilities would I look for in that person?
Good morning. Commercial real estate is so different from residential real estate and there are just so many more moving parts to the commercial business which includes office, industrial, retail, hospitality, self storage and apartments. There is the investment side; the owner user and also the leasing end of the business and each have their own intricacies. So first off you would want to make sure the broker is an expert in the field of commercial real estate you need. That is the first criteria.
Bob Clark: What else is important in selecting a commercial broker?
Having a level of experience which might include membership in either the CCIM Institute, which requires years to complete the certification process or an SIOR, a select group of 2,800 commercial brokers worldwide is an important component in selecting a broker to work with.
At Sperry Van Ness we talk about having encyclopedic market area knowledge and stress being the recognized expert in the market area. Someone looking for a broker wants to make sure they understand the market and have strong knowledge of it.
Another important trait is a broker that listens to your needs and assesses those needs and then works diligently to complete the transaction and keeps everyone apprised of the progress as it moves toward the completion
Bob Clark: Walt you have talked before about all the parts of the commercial transaction, how can a broker help put it all together?
There are many parts to the puzzle of a commercial transaction and making sure your Broker understands those pieces, like the ALTA survey, Phase One environmental report, space planning, financing, the lease document, the Tenant Improvement process including TI drawings dealing with architects, contractors, attorneys, owners and tenants requires someone with many skills to help analyze the commercial transaction from start to finish and beyond.
Bob: How can people contact you?
Thanks Bob, Walt Arnold direct line (505) 256-1255 check us out on the web at waltatnold.com. I specialize in office and industrial commercial real estate and am both a CCIM and SIOR; I have been in commercial real estate for over 20 years and have the experience to analyze client’s needs and get transactions completed. At Sperry Van Ness we have brokers that specialize in all the areas of commercial real estate, give me a call to discuss your commercial real estate needs.
Just a quick note on the auction for 9920 Trumbull is August 5th and the open house for that property is July 29th, this Thursday. Call me for details on this 19,000 sf industrial building that is being auctioned off by Zion’s Bank. Thanks Bob have a great week!
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