Joins a global network of distinguished commercial investment real estate professionals. Lakeland, FL (October 2012)óJack A. Strollo, CCIM, Managing Broker, Broadway Real Estate Services, Lakeland, earned the Certified Commercial Investment Member (CCIM) designation from the CCIM Institute, one of the leading commercial real estate associations in the world.
Whether you are a landlord or your business owns the building you occupy, you already know that it is a costly venture above and beyond the mortgage payment.
Many owners consider a property manager, but what should you look for in a good one?
Under the right circumstances this can be a cash cow for the seller and a needed opportunity to put the deal together with a potential buyer.
So you need to lease your office building and just want someone to "field a call for you and get them some quick info". Well let's just say that if you pay them it's illegal in the eyes of the Florida laws. That aside, do you really think they will be able to capture that potential buyer and give them the "hook", that is going to bring them in to see the property? Do you think they will be able to tell that broker if the lease is "modified gross" or "full service"? Do you really think some friend or maybe even a secretary that works for you is going to be able to land that potential tenant or broker on the deal?
I can tell you the answer and it's a big fat - NO.
I am baffled that owners of properties think this business is so easy that they would try this route. Information flows like water in today's market, and if the flow of information is hampered at a brokers initial call, then I assure you he will be moving onto a property that does not have that impediment and is ready to deal quickly.
Do yourself a favor and don't ask a friend to help, hire a professional the first time around and get the job done right!