Equity 3 Real Estate Brokerage LLC
Who pays commission?
As a general rule when leasing space, the owner/landlord of the property will pay commission and sellers will pay commission in a sale transaction.
However, in some cases, this may not be true. If you enter into an agreement with a broker to exclusively represent you, there may be fine print that you will be responsible for commission if the broker is not paid or if you find other space without the broker. Additionally, in some investment sales, the seller may not offer to pay the procuring broker commission and therefore the commission to the procuring broker would need to be paid by the buyer. In both instances, the payment terms should be spelled out in your agreements and you should have a clear understanding of the commission payments.
What does a broker need from their clients/customers to be effective?
In order for the broker to be effective, we need a clear understanding of your motivations and needs. Therefore, we need honesty. Shopping your deal through a number of brokers reduces the effectiveness of the broker to properly represent you. Equity Real Estate Brokerage LLC will ensure that we are representing you properly and in your best needs when we become a part of your team.
Can we provide an opinion of value for your property?
Yes, we can provide you our opinion of value of what we feel your property can be sold or leased for in the current market. Our opinion of value is not an appraisal from a licensed appraiser and should not be considered as such. It is our opinion which is based on extensive market research and knowledge.
When & why should I hire a commercial real estate broker?
Hiring a commercial real estate broker can be beneficial for anyone participating in the commercial real estate industry. Professional commercial agents provide a very specific service to individuals and businesses who need to acquire or dispose of commercial real estate property. Professional commercial real estate agents save time, money and provide knowledge and expertise. (See more about hiring a commercial agent “Why Hire a Commercial Real Estate Broker”).
What are some of the mistakes people make when searching for commercial properties?
Not knowing what is needed/wanted. Often, people will begin a search for space without a clear objective for how much space they will need (including now and in the future) and what they want to use it for. A great way to calculate how much office space you need is to use our office space calculator.
Not allowing enough time. In our fast paced world, we tend to want everything quickly. However, not permitting yourself enough time to properly search and secure the right space will leave you settling for a space that didn’t fit your needs.
Not working with a professional commercial real estate broker. A professional commercial real estate agent will have access to the most up-to-date listings, market knowledge, contacts. When you are investing in commercial real estate (whether leasing or buying) it is essential to have an expert by your side. When you work with Equity Real Estate Brokerage LLC you can trust that you will get the best property at the best price. We will work with you from figuring out what you need/want though to the closing; ensuring that your transaction is as easy as possible.
Why choose a smaller firm like Equity 3 LLC over a large, national real estate firm?
We have been operating in Bergen County for over 35 years. We have well established relationships with other community participants in the area. Hiring Equity ensures that you will be properly represented and receive the best price.