In this video, we are going to talk about the fun part: touring properties. The first thing you want to do is have your commercial real estate broker organize a time-efficient tour. Business owners are busy and your time is extremely valuable so make sure your broker puts together three of four properties to see back to back. It’s also nice to see two to three properties right after each other for a good comparison. Secondly, you want to make sure to learn from the tours. If you go into a property and you feel there’s something about it that’s a complete non-starter, make sure to let your commercial real estate broker know. Every time you tour a commercial property, it teaches you something more about what you want. Thirdly, make sure to be patient. Give yourself plenty of time based on your current commercial lease. I recommend starting to look a year before your commercial lease so you aren’t rushed. Remember this is a long-term commercial real estate investment. Lastly, when you are going through buildings, take lots of photos. Oftentimes, you have key employees, family members, or investors that you want to show the building to. It’s great to take real-time photos on your phone to get a realistic idea of what the property truly looks like.
Commercial real estate brokers like Carlsen O’Connell Commercial Real Estate are doing this 24/7. That’s a lot more efficient than you constantly being online trying to find the right property or driving around looking for sale signs.
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