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Whether you need help selling, buying, leasing, managing, or building a property, Source Commercial Real Estate can help. We understand how challenging the real estate landscape is—that’s why you can rely on us to guide you through every step of the process until you achieve success.

Frequently Asked Questions
About Commercial Real Estate

Frequently Asked Questions About Commercial Real Estate

The field of commercial real estate is interesting and important for various reasons. Business owners are interested in this type of real estate, whether for purchase or for lease. Furthermore, this field is also very interesting for property investors.

Can I Change My Leased Space, and Who Is Responsible for the Cost?

Your lease contract plays an important role in determining the extent of changes you can make in your commercial space. Minor changes like repainting or distributing power supply are allowed—provided that you receive the owner’s approval and you abide with the construction code and planning restrictions.

It’s a different and complex case, however, when it comes to restructuring your leased space. You might need to have ownership approval before you could proceed with a renovation.

When it comes to payments, you can always negotiate. Either you or the owner will shoulder all the costs, or you can split the expenses.

What are Commercial Agents and How Do They Get Paid?

In every real estate transaction, you’ll encounter two types of brokers: (1) listing/leasing agents and (2) tenant/buyer agents. Both will receive commissions once you have signed the contract. The earnings are usually split on a 50/50 basis, although this varies in every situation. As a lessee or buyer, you don’t have to worry about the broker fees. These costs are usually shouldered by the property owner or seller.

Every property and situation are different. Some individuals are more experienced in the commercial real estate world. However, be cautious of property owners and tenants/buyers that do not have representation. They can lead to misguided and sometimes untraditional transactions.

By removing the representation, there is no facilitator looking out for the best interests of their client, which leads quickly to uncertainties in a transaction. Not every transaction has representation on each side, but it does come recommended.

How Has the World of Commercial Real Estate Leasing Changed?

Over the years, brokers have utilized online platforms to market properties, which have pros and cons. Since listings are more accessible, people are likely to do things on their own instead of hiring agents for the job. Because of this, some parties are not properly represented during transactions. So, it’s still recommended to enlist the services of brokers to remove any uncertainties one may have, regardless if they’re a buyer/lessee or seller/lessor.

How Do I Know the Value of the Building?

As a commercial property owner, the goal is to earn as much as possible. If you want to keep your profits high, it’s important that you watch real estate trends closely. Market conditions vary in every location, and the value of your building is heavily influenced by these changes.

As agents would suggest, it’s best to invest in improvement projects. This way, you can keep up with the changing demands of your clientele.

What Is the Current Market Like?

There has been a significant increase in demand and price appreciation in the commercial real estate market. While it’s understandable that people would want to bargain for lower rates, the current trends make it almost impossible to achieve.

With interest rates and construction prices increasing recently existing product, even below average space, is being leased up and new construction is harder to make the economics work. However, certain commercial real estate segments require to be designed uniquely, which is assisting to the new construction demand.