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Commercial Agents - Tips for Inspecting Properties for Sale or Lease

April 24, 2012 | Comments: 0 | Views: 183

When it comes to inspecting commercial property today, it is critical that you as the agent gather all the information about the property, the precinct, and local property activity. All of these factors can have significant impact on the way in which the subject property is used and or marketed.

In preparation for the property inspection the following information will come in handy:

  1. Get the plans and drawings relating to the improvements as constructed on the property. These plans should give you an idea of the age of the property and the original configuration when first constructed. If the property looks different today, then some alterations have occurred and it is up to you to ensure that the appropriate construction and building approvals were obtained. Marketing a property that is not legally approved for the configuration or usage currently can lead to significant problems in the sale and settlement process. The due diligence process undertaken by a property buyer prior to settlement will usually find any discrepancies in construction approvals. The local building authority or planning approvals board would have given their consent to any legal changes to the property. The property owner may have some knowledge here, but always make your own enquiries at the planning office in addition to what the owner tells you.
  2. The title to the property will give you some idea as to where the boundaries are located. Ask the property owner about the property boundaries and any potential encroachments that may exist. If you have any doubts regards property boundaries, it is best to get a property surveyor to re-peg the boundary points. As part of the process you can also speak to the adjoining property owners to get some feedback on the local area and any relationship problems between properties across the boundaries.
  3. The services and amenities to the property will be important to property purchasers and tenants. In many cases you can identify the services that are supplied to the property quite easily although further detail and information may be required; this is the case with energy capability and supply from the power grid within the street. This is quite relevant to industrial type tenants or building occupiers that need greater levels of energy for manufacturing.
  4. Ask about special factors such as environmental matters, heritage issues, and energy consumption. These three issues provide significant challenges for property owners and occupants today. Matters of compliance or legislation within each category can have impact on the way the property is used or occupied. When in doubt visit the local property authority to understand these things and get written evidence of the issue in question. Written evidence can then be provided to enquiring buyers or tenants as the case may be.

So these are some of the key things to investigate in preparing to inspect a commercial, industrial, or retail property. When you have this accurate information you can inspect the subject property effectively and fully understand matters of compliance and legislation that apply. The end result is a better listing for you to take to the market.

If you want some more tips and ideas to help your commercial real estate agency and convert more opportunity into listings and commissions, you can get a free ebook of tips and tools at

John Highman is an experienced Commercial Real Estate Agent, International Speaker, and Sales Coach.

Source: EzineArticles
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