Are there reputable industry professionals that can vouch for your agent’s healthcare real estate experience?
5 Things Every Doctor Should Know When Choosing Their Commercial Real Estate Agent
Building a dental or medical practice is a collaborative process between your equipment specialist, contractor, architect, lender, real estate agent and several other key partners. If your agent is not in sync with those professionals, it can turn your project into a nightmare. Additionally, many of the partners on your team are tied to and rely upon the successful performance of other key vendors.
For instance, a lender will count on the real estate agent to limit their liability by securing a property with acceptable terms aimed at propelling the practice forward into a higher level of success. Likewise, a contractor needs the architect and engineers to execute their roles in designing and completing construction documents, obtaining permits, and for the space to be properly built and finished out. The equipment specialist is also tied to the architect and contractor… and vice versa.
These parties, and others, have key responsibilities that are dependent upon one another’s successful execution of their primary role in the right time and of the highest quality.
Because of how closely these parties work together, they should be able to provide ample feedback and references for the other parties you are considering hiring; especially your real estate agent.
Additionally, you should be able to obtain ample references from your peers and colleagues about past projects and the performance of key partners. If the real estate agent and/or the team you are considering hiring can’t bring a substantial number of very satisfied references and testimonials to the table, take the time to find additional agents to evaluate and interview.
Your medical office space is too important to trust the process, advice and negotiating to someone who can’t be validated and approved by numerous people in your industry. The same is true for each category of vendor or partner you want on your team.
Take the time to do your research. When you are ready to choose your team, ensure each partner has a track record of performance and is someone you are excited to work with. If not, keep looking until you are fully satisfied.
To hear more about why it is so important to have expert representation, watch the video below.