What is the difference between real estate agent (REA) and real estate negotiator (REN)?
A Real Estate Agent (REA) owns and operates his/her own real estate agency. Besides, he can hire a maximum of 50 real estate negotiators to provide real estate services. The services provided are selling, leasing or searching or purchasing a property for their customers. A Real Estate Agent (REA) is required to have the necessary academic qualifications and meet the minimum experience, standards and expertise set by the Board of Valuers, Appraisers, Estate Agents and Property Managers. The Real Estate Agent requires to complete a Real Estate Diploma Course, pass 12 papers, complete 2-year working experience with an existing agency as a Probationary Estate Agent (PEA) and finally sitting for the oral test of professional competence. Once he/she has successfully completed all processes, the REA will have his/her name on the Board’s list as a registered estate agent.
A registered estate agent employs a real estate negotiator. He/she must complete the necessary certification before they are allowed to practise. Thus, the real estate negotiator must attend a full 2 days course, namely the Negotiator Certification Course (NCC), where the real estate negotiator learns the basics of estate agency and the related industry laws, Acts and standards. Once they receive the certificate of completion after completing the 2 days course, the real estate negotiator can seek job opportunities. Their employer will help apply a REN tag for the negotiators. Thus, before you engage any real estate negotiators, do check their REN tag and the issue number. The designated REN tag and issue number signify this REN represents sellers, landlords, buyers and tenants.
What is an industrial real estate agent?
An industrial real estate agent provides their clients with a complete range of services and fully customizable plans. His or her services include helping customers to buy, sell, rent or lease industrial properties. Engaging industrial real estate agents help customers to narrow down the scope in searching for industrial properties such as warehouses and factories, finding the industrial space that best suits their business requirement and gets the best deals.
What Does an Industrial Real Estate Agent or Negotiator Do?
Possess real estate license
For Real Estate Agents, they have completed the necessary academic qualifications and the minimum experience, standards and expertise set by the Board of Valuers, Appraisers, Estate Agents and Property Managers. Real Estate Negotiators have their designated REN tag and issue number to start serving their customers.
Have the latest and relevant local market knowledge
The agent has to keep himself updated with the latest market trends, local and state regulations. They have access to the proprietary data, tools and insights to help the customers in searching for the ideal property. They will also connect experts from legal, valuation, local and state authorities to help their customers to get the best deal. A professional real estate agent who specializes in industrial properties comes in handy because they have dealt with so many kinds of industrial factories that their knowledge is at their fingertips. They can help you secure a tenant or buyer such as a multinational company that appreciates your property and possesses a good payment record and help you save the hassle in chasing your rentals every month.
Give customers access to all industrial listings.
Since the professional real estate agents work on so many industrial deals at the same time in probably the same area, they are able to access all industrial listings. Thus, they provide suggestions and advice on pricing. Besides, the real estate agents get calls from tenants or buyers frequently thus they know all available transactions. Some good deals are kept private and confidential as the sellers or buyers do not wish to expose their identities, thus they appoint an agent to represent them in the transaction.
Handle the negotiation and closing process smoothly
Since they represent the customer, thus they always put customer interest as a top priority. They will try all their connections to get the customer the best deal. They understand the market value of the industrial property as they are on the ground daily and they are the ones who are aware of any changes in the market value of a factory. Since they are so experienced dealing with industrial listings, they understand the expectations these tenants have. So the real estate agents assist you to manage and negotiate with tenants on the terms and conditions of the industrial property, the final rental or sale price
Keep your best interest in mind
A specialized industrial property real estate agent works closely with a lot of tenants or buyers, thus they know the unique selling point and fair value of the industrial properties. In many cases the real estate agents have dealt with before are buyers who often need to use the factory or warehouse or move in as quickly as possible, thus they are able to help customers to rent or sell the properties faster to manage the cash flow urgently. In order to ask for a better price for industrial property, the real estate agent might suggest some improvement on the factory, building and warehouse.
Manage industrial real estate lease.
The real estate agents are professional in managing the industrial real estate lease ensuring the customers don’t miss any important dates, deadlines, or changes to the agreement. They can help you manage any refurbishment needed for the building to be operational. It is because the new tenant can sometimes be tricky and sensitive to discuss with especially when it comes to multinational firms as they can be picky.
How can IndustrialMalaysia help you?
Deciding the best location, dealing with different stakeholders and negotiating the best deal can be challenging and time-consuming. Thus by engaging with IndustrialMalaysia, you can enjoy all benefits stated below:
Save Time
All our customer has to do is to inform us of their requirement on the industrial property. Our agent searches for the industrial property listing narrows the search based on their business requirements and budget, then schedules appointments to visit the best industrial properties. Our customer can continue to focus his attention on his day-to-day operation.
Get the best deal
We have extensive experience in the negotiation process. We have proven track records in identifying the best opportunity at the right price on all aspects of real estate transactions. Engaging us doesn’t actually cost the tenant as the fees are paid by a landlord or seller. Having us with you helps in managing your costs as well. Some costs such as the cost of occupancy entail several factors, such as improvement costs, operating expenses, the quality of construction, and building amenities among others. We normally carefully consider these items before finalizing the lease agreement for our customers.
Why should price not be the only determining factor in the best deal?
Most of the time, the buyers know the industrial property price, but only some understand and capture the value by purchasing it. Many potential buyers tend to hesitate to decide and always hope to find a perfect industrial property. But in reality, land is scarce for industrial properties. Many buyers fail to identify these good deals as they are overly focused on prices and discounts. They have buyer regret after the deal is gone. Due to overly emphasis on price, some buyers purchase an industrial property in a remote area but spend extra on staff hiring and logistics expenses. These are the opportunity cost the buyer has to bear while making a decision. We would recommend that buyers should be aware of all opportunity costs to avoid buyer regret.
Take the stress away
When the customer engages us as their real estate agent, we provide them with a comprehensive guide in searching for industrial properties. Some factors we advise our customers are defining their investment purpose, listing the investment site attributes, setting their parameters, and understanding their budget. Many buyers struggle to understand the legal aspects of the real estate sale or the lease terms while trying to hunt for the best deals. We will take care of that for our customers and will answer any questions they have.
Looking for an industrial property now? Talk to us now.