The majority of real property market transactions start through the professional endeavours of qualified realtors. Buyers and sellers of commercial real properties in Toronto and Canada as a whole may appoint a professional broker either for short-listing the best properties near them or for listing a commercial property for sale.
Whether you are a potential commercial real property buyer or seller in Canada, you ought to forge an agreement with a real estate property broker. How and where to find a commercial realtor begins here:
Why should I find a realtor in the first place?
Whether you are buying a commercial real property for the first time or you just want to sell your downtown Toronto office to move to a new location, a relatively complex process is involved. A realtor should be someone who could guide you through this process so the real estate transaction becomes a cakewalk for you.
Can you find a CREA member?
As in every sector, there are certified professionals available, while at the same time, there are those self-proclaimed real estate brokers who are still not authorized to negotiate real estate transactions between buyers and sellers.
To be on the safe side, you can just look for a realtor who is an authorized member of Canadian Real Estate Association (CREA). What can you expect from a mortgage professional or realtor who is also a member of the CREA?
They follow a standard code of conduct: CREA’s standard code of conduct has to be followed by all real estate practitioners in Canada. When you hire a CREA member, you can reasonably expect him to offer quality services.
They know the market inside and out: For making informed decisions, you need to get the updated information about the market. A CREA certified realtor can keep you in the loop about a lot of things, such as neighbourhood pricing trends, market conditions, prices plus a lot more.
They update themselves through professional courses and workshops: This is why the CREA member realtors can maintain a considerably high level of market knowledge.
They have the access: CREA members have the direct access system to the original MLS System, which is why they always have the pertinent information at their fingertips.
Choosing a CREA certified realtor is not all. If you are investing in commercial real property, you need to take into consideration a number of things before completing a transaction and before even choosing a realtor.
Here are a few questions you should ask your realtor.
First, ask the realtor whether the demand for commercial real properties is steady and sustainable. This is because you are actually targeting a very specific demographic for commercial real property tenancy.
For example, quite a few Canadian cities are under-supplied when it comes to temporary student accommodation. So it is highly likely that the demand for properties in those regions for a relatively longer period. High and sustained demand can ensure maximum yields.
Next, you should ask the realtor about the location of the property. You should keep in mind that a location seemingly very attractive for buying a home many not be a good location for having an office. Therefore, you should seek explanation from the realtor about why the location is specifically ideal for investing in commercial property.
Check to see how flexible the exit strategy is on a deal. Properties with attractive yields are the best commercial properties in Toronto housing market since you get the chance to leave the property at any stage. Less attractive yields might lower the resale possibilities.
You can find a commercial realtor whom you can trust only when you know your requirements precisely. Finding a realtor who stays abreast of Toronto condo prices should be simple if you know what exactly you want.