Why use a retail property agent?

Considering purchasing or renting a retail property? Particularly if this is a first for your business, it can be daunting to know where to start. This is when it is a good idea to use a retail property agent.

The role of a retail property agent is not only to market and promote properties on behalf of the landlord, but also to act as an intermediary between the seller and prospective buyer, or landlord and prospective tenant, to ensure that both sides are satisfied with the outcome of the deal.

Here are a few ways retail property agents use their expertise to help save you time, money and stress during the process of finding your ideal retail space.

Knowledge of the area

When deciding to expand your business into a new area, it is a great idea to have someone in your corner who understands the local market. Local agents will have excellent knowledge of the current market trends in their area and can use their experience to your advantage. Likewise, local agents will also have a good grasp of demographics, footfall and competition within the area and can help you decide whereabouts your business is most likely to thrive.

Read more on choosing the right location for your retail property

Early access to listings

Agents often have access to property listings before they are on the market, which is great if a suitable property becomes available in a high-demand area. This insider knowledge increases your chances of acquiring the perfect property and having multiple options to choose from. However, the possibility of this depends on the skill and knowledge of your chosen agency.

Time-saving

Finding a new retail property to buy or rent is extremely time-consuming – and that is time taken away from the day-to-day managing of your business. Agents use their expertise to identify potential properties, and filter out unsuitable or impractical options. Furthermore, when it comes to making offers, negotiating and re-negotiating terms, and finalising paperwork, agents know the process inside out and can help complete these tasks quickly and efficiently.

Negotiation assistance

Successfully negotiating the best deal for you and your business can be tough, not to mention time-consuming and sometimes confusing. Acting as the buffer between yourself and the property owner, an agent takes this task off your hands and demystifies the complexities. Having settled on a deal, agents will be highly familiar with all the necessary paperwork and next steps, making this stage of the process a lot smoother.

Cost effectiveness

Although the main reason people choose not to use a retail property agent is to save on costs, using an agent can actually be more cost-effective in the long run. In addition to advising you in line with market conditions, agents can help you avoid making expensive mistakes throughout the buying/renting process.

Increased credibility

It is important not to overlook the credibility that comes with using a reputable agency. This is particularly important for individuals and new businesses starting out on the retail scene, as having a well-renowned firm with good contacts on your side will help you make your mark as a brand. Moreover, landlords will see that you are taking professional advice and take you more seriously when considering potential tenants.

Looking for the ideal retail property? Check out shops to rent on Completely Retail.