The weird world of commercial property
Discussion
Is there a definitive website where commercial agents market commercial property? I get the feeling that, unlike the residential market, that commercial property is still handled very differently.
There's certainly a large selection on Rightmove. And a good swathe on Property Link. But neither are anywhere near saturation coverage. A lot of agents only put properties on their own websites; and it seems like an not insignificant minority don't advertise properties they're handing at all! They move them on simply via old-fashioned legwork.
Am I missing a website? Or is the commercial property market really still stuck in the last century?
There's certainly a large selection on Rightmove. And a good swathe on Property Link. But neither are anywhere near saturation coverage. A lot of agents only put properties on their own websites; and it seems like an not insignificant minority don't advertise properties they're handing at all! They move them on simply via old-fashioned legwork.
Am I missing a website? Or is the commercial property market really still stuck in the last century?
Commercial property agents are stuck in the dark ages and since they get finders fees a lot do not seem to value online listing sites. We deal with a very large property consultancy group and they asked us to make the system less user friendly!
Most of the commercial sites like showcase.co.uk or http://www.novaloca.com/ seem to get government funding then when it stops they move on.
Most of the commercial sites like showcase.co.uk or http://www.novaloca.com/ seem to get government funding then when it stops they move on.
They are, in the main rubbish at online..
A couple of options include searching the local authority website in the area you are interested in, they often do a comprehensive list. Zoopla is pretty good and www.Movehut.co.uk and https://propertylink.estatesgazette.com/
A couple of options include searching the local authority website in the area you are interested in, they often do a comprehensive list. Zoopla is pretty good and www.Movehut.co.uk and https://propertylink.estatesgazette.com/
V8mate said:
Is there a definitive website where commercial agents market commercial property? I get the feeling that, unlike the residential market, that commercial property is still handled very differently.
There's certainly a large selection on Rightmove. And a good swathe on Property Link. But neither are anywhere near saturation coverage. A lot of agents only put properties on their own websites; and it seems like an not insignificant minority don't advertise properties they're handing at all! They move them on simply via old-fashioned legwork.
Am I missing a website? Or is the commercial property market really still stuck in the last century?
Nope, exactly my observations too. There is a huge gap in the market somewhere for this, although it seems like Commercial estate agents are very territorial and don't want to embrace national websites.There's certainly a large selection on Rightmove. And a good swathe on Property Link. But neither are anywhere near saturation coverage. A lot of agents only put properties on their own websites; and it seems like an not insignificant minority don't advertise properties they're handing at all! They move them on simply via old-fashioned legwork.
Am I missing a website? Or is the commercial property market really still stuck in the last century?
surveyor said:
It's work the phones. Then chase them when they ignore you...
I have found purchasing commercial shop property very frustrating.I have spent time trying to build up a "relationship" with an agent but it's not worked for me.
I have come to believe that anything really tasty,the agent gives first dibs to his larger/regular customers,which is understandable from his point of view,probably a few backhanders involved.
Finding a rental,at the right price,can also be frustrating,but if you build up a relationship with shopping mall management it oils the wheels.
avinalarf said:
surveyor said:
It's work the phones. Then chase them when they ignore you...
I have found purchasing commercial shop property very frustrating.I have spent time trying to build up a "relationship" with an agent but it's not worked for me.
I have come to believe that anything really tasty,the agent gives first dibs to his larger/regular customers,which is understandable from his point of view,probably a few backhanders involved.
Finding a rental,at the right price,can also be frustrating,but if you build up a relationship with shopping mall management it oils the wheels.
avinalarf said:
I have found purchasing commercial shop property very frustrating.
I have spent time trying to build up a "relationship" with an agent but it's not worked for me.
I have come to believe that anything really tasty,the agent gives first dibs to his larger/regular customers,which is understandable from his point of view,probably a few backhanders involved.
Finding a rental,at the right price,can also be frustrating,but if you build up a relationship with shopping mall management it oils the wheels.
This is very much the point behind my OP. The approach that commercial agents insist on following seems to entirely cut new and small businesses out. Do they really think that BHS will come along and snap up every property that comes to market? Oh.I have spent time trying to build up a "relationship" with an agent but it's not worked for me.
I have come to believe that anything really tasty,the agent gives first dibs to his larger/regular customers,which is understandable from his point of view,probably a few backhanders involved.
Finding a rental,at the right price,can also be frustrating,but if you build up a relationship with shopping mall management it oils the wheels.
I'm tentatively looking for a property for a new business. I don't have any particular town or region in mind; it's more about the characteristics of the town. So it's easy for me to spend a few hours browsing the web; a map open in one tab and a property portal in another, moving from one place to the next.
I used a retained agent at work in the day job. They're a household name in the commercial market and couldn't be more useless. I've found sites they miss simply by 'flying' around a Google satellite page. There's no way I'd be committing start-up money to their disingenuous promises.
Speaking as a commercial agent the key reason why the internet hasn't been embraced for commercial in the same way as residential comes down in part due to a lack of stand out product but mostly due to cost.
For a listing on Rightmove they will charge about £350 per entry which grates when residential agents pay a small fraction of that, but then web traffic is much less I guess.
On the point about agents not been interested in smaller businesses, that's not so. It's not the agents that aren't interested as we are (in theory) keen to get stuff let so that we can earn a fee - the biggest stumbling block is landlord clients who expect properties to be let to blue chip tenants and if not often request various terms, guarantors etc.
For a listing on Rightmove they will charge about £350 per entry which grates when residential agents pay a small fraction of that, but then web traffic is much less I guess.
On the point about agents not been interested in smaller businesses, that's not so. It's not the agents that aren't interested as we are (in theory) keen to get stuff let so that we can earn a fee - the biggest stumbling block is landlord clients who expect properties to be let to blue chip tenants and if not often request various terms, guarantors etc.
It's a complex area, and my general impression is that agents are working hard.
It's not right, but they will chase the bigger lettings.
It's frustrating - I source small offices for a national blue chip covenant, and I share the frustration. But working the phones is where it's at.
Bit confused on the Rightmove comments Sox though.
My experience is the resi guys pay through the nose, where as the commercial product is much cheaper while they try and grow market share.
It's not right, but they will chase the bigger lettings.
It's frustrating - I source small offices for a national blue chip covenant, and I share the frustration. But working the phones is where it's at.
Bit confused on the Rightmove comments Sox though.
My experience is the resi guys pay through the nose, where as the commercial product is much cheaper while they try and grow market share.
Part of the wierdness, and lack of advertised properties, is that (paradoxically) vendors may not want to advertise the fact that a property is for sale.
Unlike residential property where the driver to buy or sell is basically changing requirement for accommodation, buyers of commercial property are buying yield and/or strategic value, which will vary by buyer and sometimes by proximity to other property for sale.
In some cases, a property will be bought without the seller ever offering it for sale on the open market. Parties need discretion, which would eliminated by sticking it on a public website!
Unlike residential property where the driver to buy or sell is basically changing requirement for accommodation, buyers of commercial property are buying yield and/or strategic value, which will vary by buyer and sometimes by proximity to other property for sale.
In some cases, a property will be bought without the seller ever offering it for sale on the open market. Parties need discretion, which would eliminated by sticking it on a public website!
surveyor said:
avinalarf said:
surveyor said:
It's work the phones. Then chase them when they ignore you...
I have found purchasing commercial shop property very frustrating.I have spent time trying to build up a "relationship" with an agent but it's not worked for me.
I have come to believe that anything really tasty,the agent gives first dibs to his larger/regular customers,which is understandable from his point of view,probably a few backhanders involved.
Finding a rental,at the right price,can also be frustrating,but if you build up a relationship with shopping mall management it oils the wheels.
I'm a surveyor. We get paid because of our market knowledge and connections.
We advertise extensively to other agents. We have a postal clearing house system where stacks of brochures are delivered to our desk everyday. We look through them and match with active requirements.
For the disposing agent, they would far rather deal with a professional on the other side. Joe public is generally a nightmare to deal with - at least if he has paid an acquisition agent a fee, you know they are serious.
We advertise extensively to other agents. We have a postal clearing house system where stacks of brochures are delivered to our desk everyday. We look through them and match with active requirements.
For the disposing agent, they would far rather deal with a professional on the other side. Joe public is generally a nightmare to deal with - at least if he has paid an acquisition agent a fee, you know they are serious.
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