Why Is a Local Commercial Real Estate Company Better for You Than a National One?
Many real estate investors and owners wrongly assume that it’s better to work with a national commercial real estate company. Many reasons, are that national companies are bigger, better, have more experience and connections than local companies.
However, the reality is not as straightforward. We want to explain to you why a local commercial real estate company is often a far better choice for you and your business.
The Problems of the National Commercial Real Estate Companies
Even though national companies tend to be bigger, they are not necessarily better. That mostly stems from the fact that they rarely cover every area and every city.
When you're looking to buy or invest in real estate, you will most likely have an area in mind. If you decide to hire a national firm, it could happen that they do not have a strong presence in that specific area or city. In such a situation, you will end up hiring a great brand, but the people behind it might not be as well equipped to handle your specific needs.
An even bigger problem with these national companies is that they will rarely let you know that their specific office doesn't have the best agents. They will always stand behind their employees even if they are not as skilled and connected as you expect them to be. By the time you realize this, it will be too late. The deal will be done and only then will you realize that you could have gotten a much better one using a different broker.
Furthermore, if you're a smaller buyer or investor, the national firm will likely hand you over to a less experienced agent anyway. Even if their presence in your desired area is excellent, that doesn't mean that you can automatically get the best service. It's an unfortunate fact with every national firm, no matter the industry.
Why Is a Local Commercial Real Estate Company the Best Choice?
We covered why national firms don't tend to be the right choice for many investors and buyers. However, we haven't said what makes a local company the best option.
There are several reasons:
Local roots – the fact that the local company exists in that specific area is enough for them to have deep roots in the community. Their agents have local experience and the connections you need to get the best deals possible. They are also not continually changing location and branches, as is the case with national firms.
High efficiency and quick results – local companies have fewer processes to worry about, and they can deliver better outcomes more consistently. That inherently means that they also tend to work more quickly.
Cost-effectiveness – with a local commercial real estate firm, you know you'll be paying less while still getting the best results. They are always attentive to every client, as every client is their lifeblood. Plus, there aren't as many commission splits as with national firms.
All in all, local companies tend to be the better choice for most real estate owners and investors. You get the attention and results you need and deserve in every situation. For more information, feel free to reach us at info@cbicommercial.com.