For a long time, commercial real estate has been a grey area, with limited brokers, agencies, and general information available to the public. It makes sense though, given the somewhat uncommon demographic that is interested in such investment properties (business owners who need office space, investors or buyers who can afford large down payments and are willing to take on more risk, etc). However, as our world slowly returns to normality following the COVID-19 pandemic, there will likely be increasing need for these property types, and that presents an opportunity to get ahead of the game.
Before I dive into some opportunities for commercial real estate, you should know that at BizPappa, we have various commercial real estate listings, including restaurants, that you can browse through. We also support selling of commercial real estate, in case you’re in a position to liquidate assets. You can learn more at bizpappa.com or contact us directly at firstname.lastname@example.org. Now then, let’s start scheming.
1. Commercial real estate opportunities for brokers
To be a commercial real estate broker requires a more sophisticated skill set from the average residential agent. Commercial real estate is more complex, and involves various moving pieces, particularly if the property of interest is new or yet to be built (some brokers start listing before the property is fully completed). With an expected increase in commercial real estate desires in 2021, there can be a presumed increase in quantity of brokers, which means cutting the total pie into smaller pieces. Presentation and reputation are going to be very important for commercial brokers in 2021, which is why platforms like BizPappa are creating broker-profiles, where agents can list and record their records (to whichever extent of visibility they desire) for potential clients to see. Not to mention, this is a good marketing opportunity- to present a commercial brokers portfolio and generate organic leads.
2. Commercial real estate opportunities for buyers
For buyers of commercial investment properties, it will be very important to consider the location of such properties. With massive corporations like Amazon and Facebook offering work from home capabilities, the assumed downtown-city-center office space may not be as appealing as it once was. Its for this reason that providers like WeWorks and Galvanize (Seattle native space) have adopted a “shared” office model, which allows for lower fees and more opportunity for bootstrapped companies. If you’re a potential buyer of commercial property in 2021, perhaps consider where the next growing businesses are, and how you may satisfy their needs. Maybe a shared office space is the right move, after all?
3. Commercial real estate opportunities for sellers
Sellers (in my opinion) have the shortest end of the stick, in 2021. With work from home standards becoming commonplace and lingering pandemic fears, the opportunity to make a handsome profit from a commercial property sale seems less and less likely. Of course, take that with a grain of salt- there are still massive corporations buying up office space for their data centers, offices (perhaps), and other reasons. If you currently are holding on to a commercial property and are hesitant of its future sustainability, you may wish to evaluate the realistic longevity of keeping it. Closely monitor your surrounding area to see how other commercial properties are doing, and perhaps consider exploring sales options now, rather than later. At BizPappa, we can help with commercial listings (we have preferred agents that are great), so give us a shout at email@example.com.
Overall, 2021 is going to present a lot of opportunities in the commercial real estate space, but the risks are at an all time high. If you’re in the position to buy or sell any amount of commercial space, please consider reaching out to our team at BizPappa to learn more about how we can help. Our preferred agents are highly experienced and will help make sure that whatever path you choose, is the best one for you.