Buyer Qualification in Commercial Real Estate

When you as a commercial agent are moving down the path of marketing a commercial property for sale, eventually you will have buyer enquiry. All of those buyers that come to you will have to be qualified before you move to the property inspection. The time spent in this qualification stage will save you so much time and eliminate early any problems and hurdles that could arise later.

When it comes to buying commercial or retail real estate, some of the main facts that should be checked in the qualification process are:

  1. The name and contact detail of the person that you are taking the enquiry from
  2. The decision makers name and that you are talking with them
  3. The timing of the purchase deal and settlement
  4. Price range for the purchase
  5. Finance capability and have they spoken to their financier?
  6. The key reasons for the purchase
  7. Do they need an investment property or one that is vacant?
  8. Location of the property to be purchased
  9. Improvements needed in the new property
  10. Size of the property both internal and external to the building and on the site itself
  11. Services and amenities required in the new location
  12. Access to other important property location attributes such as ports, transport, labour, customers, and distribution channels

When you know all the facts you can correctly help the buyer. Without the facts you could be wasting your time.

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By John Highman

John Highman is an International Commercial Real Estate Author, Conference Speaker, and Broadcaster living in Australia, who shares property investment ideas and information to online audiences Worldwide.