Commercial property agents
What is a commercial Agent?
A commercial agent is a person authorised to act on behalf of another, called the ‘principal’, to create a legal relationship with a third party. Commercial property agents enjoy substantial legal protections which are unlike those given to employees.
So instead of making the purchase by yourself Commercial property agents will do the job for you. So whether you are overseas or local you can count on Commercial property agents to be there and make crucial decisions on your behalf seeing that Commercial property agents have your best interests at heart.
Tips for finding a commercial agent
1.Find a commercial agent – You could also talk to Commercial property agents at trade exhibitions or ask for recommendations from contacts and advisers. This way you will have advise based on real life situation as opposed to virtual belief.
2.Be sector specific – Don’t be afraid to ask Commercial property agents about their experience, knowledge and understanding of your sector. Balance the benefits of someone with a strong trading history in your sector with the benefits of using an agent hungry to establish themselves in it. Just make sure to check their portfolios to ensure they aren’t representing potential competitors, too. Do not give away too much the first time around!
3.Introduce yourself – Always interview potential agents face to face. It is important you work only with an agent with whom you can develop a good relationship. Commercial property agents are fairly friendly and workable.
4.Agree on payments before hand – Whether payment is wholly or partially on commission should be written into the contract. When determining pay, balance the benefits that incentives such as bonuses bring with the loyalty that a retainer engenders.
5.Understand your obligations – You should be aware that the law gives considerable protection to self-employed sales agents. Importantly, if you want to terminate a self-employed agent’s contract you must give up to three months’ notice. Even then you might have to pay some compensation.
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