FAQ's
We are here to make your venture in commercial real estate as seamless and smooth as possible so please feel free to reach out any time with any questions that you might not see answered below.
Q. Why should I hire a commercial real estate broker?
A. Hiring a commercial real estate broker can save you an abundant amount of time and money in your search and your transaction because a good broker knows the process, knows the properties, the landlords, buyers and sellers. Think of how often you are involved in commercial real estate transactions, then think about how frequently a commercial real estate broker is. They witness the transactions daily, therefore, they will have the most knowledge on the right and wrong way to go about the negotiations. A good commercial real estate broker understands the total cost of the transaction and can help negotiate a deal that best suits your needs.
Q. What do commercial real estate brokers need from their clients to be effective?
A. To help a commercial real estate broker to be effective, they need to understand their client's motivations and needs, so honesty is the most important aspect when dealing with a realtor. Shopping a deal through a number of real estate brokers reduces the effectiveness of the broker. RE/MAX 440 / Central will take complete responsibility for the transaction when we are part of your team and empowered to seek the very best transaction to suit your requirements.
Q. What distinguishes Grade A, Grade B and Grade C office space?
A. There are three general classifications for commercial office properties, based on criteria such as age, location, maintenance, and length of leases. However, there are no real standards for the grading system.
Office buildings within the Grade A bracket are usually in a prime location, and are usually brand new or have been recently redeveloped or renovated. Grade A offices will feature high quality furnishings and state-of-the-art facilities.
Grade B office space refers to properties that fall below the Grade A level, typically in terms of location, facilities and maintenance. Grade B offices are usually maintained and finished to a good or fair standard, with adequate facilities. Materials used in the construction or fit-out of the building are functional but are not considered to be the highest quality. Grade B spaces are often found in the suburbs or slightly cheaper areas, as opposed to Grade A offices which typically occupy the most sought-after locations.
Grade C office space is functional and available for low rent. Internal furnishings and décor are usually not maintained regularly, or to a high standard. These buildings are typically 15 to 25 years old, with steady occupancy.
Q. How come when I call a broker about a business I’ve seen listed on the internet, they give me the runaround instead of just sending me the information?
A. Confidentiality. If the employees, customers, vendors, etc. find out that the business is for sale, it could cause them to be skittish, nervous, or even stop making the business their priority, which could potentially harm a business. Most businesses like to keep the fact that they are up for sale to be private.
Q: I have a large down payment, but just a modest income. Will I be able to get financing to buy a business?
A. Unlike housing, where your income helps determine how much a bank will lend, when buying a business, the income of the business is what determines how much the bank will lend.
CONTACT
We are here to make your venture in commercial real estate as seamless and smooth as possible so please feel free to reach out any time with any questions that you might not see answered below.