Whether you have a business or are just looking for temporary land to build your house, land leasing can be a smart choice if you want to have access to land without the burden of paying a large chunk of money. In addition, it’s a great option if you’re going to stay there for a very long time. For instance, if you’re just planning to be there for about 5 to 10 years, then you should try land leasing.
However, just like buying a property, land leasing can also be overwhelming, and you have to undergo a complicated process. So, hiring real estate agents is usually recommended, especially if you’re not familiar with the process and the neighbourhood.
Meanwhile, if it’s also your first time hiring a real estate agent, here are some tips that can help you find the right one to hire.
1. Prioritise Specialisation
Real estate agents differ from one another, just like any other career. So, when looking for the right real estate agent to hire, you should check their specialised experience. Some of the most common specialisations that real estate agents pursue include commercial buildings, residential properties, and land deals.
And since you’re planning to lease land, you should go to a real estate agent who has specialisation when it comes to leasing agreements. In addition, they should know the zoning laws, commercial and agricultural restrictions, and the market trends about leasing.
If the real estate agent has enough knowledge and experience in the specific field, it’s easier to find the right property that you prefer.
2. Check Their Market Knowledge
Another criterion to look for when hiring a real estate agent is their knowledge about the market. The value of real estate properties often changes depending on various factors. A reliable real estate agent knows the current news and pricing structure in the market.
So, if you’re interviewing a potential candidate, you can start by asking questions that can help you identify whether they are updated with the latest leasing information. At the same time, if you have any specific questions about land leasing, you can easily identify if the answers they provide are all reliable.
3. Ask About Their Network and Connections
Another essential thing you should consider when land leasing is that you need to hire experts to know the exact measurement and process the papers properly. And if you’re new to the area, it can be difficult to find the best ones.
Fortunately, if you’re working with a reliable real estate agent, they can introduce you to their network of professionals, so you don’t need to look for the people you need to hire from scratch. Instead, you can use your remaining energy to proceed with other essential things to do.
4. Evaluate Their Negotiation Skills
One of the benefits of hiring real estate agents is that they’re expected to have negotiation skills. A skilled real estate agent should be able to negotiate on your behalf and ensure that the negotiation factors include rent adjustments, renewal options, and maintenance responsibilities.
Of course, it’s relevant that you should first discuss the things you need with your real estate agent, but they should also know how to negotiate your needs and preferences with the owner.
Meanwhile, when evaluating the negotiation skills of a real estate agent, you can ask about their past projects and how they handled the negotiation process.
5. Verify Their Credentials and Reputation
Since it’s your first time leasing land, it can be a traumatic experience if you get scammed. So, when looking for the right real estate agent, you should verify their licence and credentials first. Usually, real estate agents can be found on social media, so it’s easier to look at reviews and testimonials. And if you can find some reliable reviews, you can contact them and ask about their experience when working with the real estate agent you’re planning to hire.
6. Discuss Fees and Commission Upfront
Before hiring the agent, you should fully discuss the fees and commission upfront. Since it’s their way of earning, having misunderstandings can be another challenge you may encounter along the way. At the same time, it’s easier to make an informed decision if you’re aware of at least an estimate or percentage of the rent for the lease.
7. Assess Their Communication Style
Even if the initial consultation has been perfect, you can still encounter miscommunication if you notice that the real estate agent can’t communicate well. Meanwhile, since the leasing process needs legal documentation, negotiations, and inspections, you should know the mode of communication they prefer, and if they often update you about the whole process.
Final Thoughts
When leasing land, hiring a real estate agent can significantly help you find the right place and score the best deal. At the same time, they can guide you with the processing of the papers. Meanwhile, by considering the tips listed in this article, you can easily find the right real estate agent and property that you need.
ABOUT THE AUTHOR
Aliana Baraquio is a web content writer working for Bennett Property, a family-owned company offering a full range of property services, including Sales, Leasing, and Development in Sydney’s Northwest. As a writer, she is passionate about providing good-quality articles to help readers make the right choice.
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