Commercial Property Brokers

Written by Lori Covington
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Commercial property brokers differ from residential agents in their purpose and scope of business. While a residential agent may help individual families purchase homes, commercial property brokers may assist in relocating entire corporations, dealing with everything from technological needs to OSHA requirements. In addition to the people factor, commercial property brokers need strong analytical skills, a deep understanding of the market, and comprehensive knowledge of zoning laws and building codes.

When searching for commercial property brokers, potential clients need to find the broker with the pertinent experience, an excellent education, and a proven track record. One way to narrow the field is to check out brokers who are Certified Commercial Investment Members (CCIMs) or members of the Society of Industrial and Office Realtors (SIOR). These multinational professional organizations require advanced education and experience for all members: less than ten percent of all realtors are members of these elite groups.

Look for brokers who are CCIMs or SIOR members; either of these designations tells potential customers that they are dealing with committed professionals who take their business--and their customers--seriously. Taking customers seriously is also reflected in the ethical code, which sets forth standards of honesty and integrity for realtors in relation to their customers and to other realtors.

Commercial Property Brokers and the SIOR Code of Ethics

In addition to requiring honesty and disclosure to clients, the SIOR code of ethics also promotes cooperation rather than competition between its members, assuring that clients will benefit no matter who handles their transactions. The SIOR code, a sixteen-item code covering brokers' duties to clients and to other brokers, is unusual in that it is more than a set of goals: it is legally binding. If a realtor is accused of violating the code, consequences include mediation and potential loss of SIOR membership.

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