What makes a great industrial real estate broker?

Posted by on Feb 17, 2011 in Blog, Real Estate, Success | 0 comments

A good industrial broker has market knowledge; knowledge about rates/prices, where the market is headed, etc. A good industrial broker also has product knowledge; knowledge about warehouse design, such as dock level loading, cross docks, front loading, roof construction, etc.

A good industrial broker has connections to the ports, airports, railroad operators, trucking, overland & local drayage, and learns as much as he/she can about how those modes of transportation. It’s also vital to make contacts in different areas pertaining to what your clients may need such as attorneys, domestic and international banks, accounting services, environmental services, hazardous materials handling, etc.

A good broker also has connections to the chambers of commerce and other trade associations & organizations.

But ultimately…,

A great broker knows all about their clients business operations, what their needs are, and what their future needs may be. For example, if one of your clients is a biofuel company in need of a biodeisel manufacturing facility involved with the reclaiming or recovery of a used product, considered a “resource recovery” facility, you need to know about possibly getting a variance from the Environmental Quality Board and such a facility can’t be in the Wellfield Protection Area at all and needs to be connected to sanitary sewers as well. This is an example of needing to know what your clients need. Another example is a wine distribution company that needs cooler space. While not as complex as the first example, knowing your clients needs makes for great brokerage.

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