Whozoo tips #19 - Does it matter whether my commercial agent is a chartered surveyor or not?

Published: 21/01/2024

Whether the commercial agent handling the sale of your property is a chartered surveyor or not can depend on your specific needs and the nature of the property transaction. Here are some considerations to help you decide:

Advantages of Using a Chartered Surveyor as a Commercial Agent:

Expertise in Valuation:
•Chartered surveyors have specialized training in property valuation. If you require a detailed and accurate valuation of your commercial property, a chartered surveyor can provide this service. This expertise can be crucial for setting an appropriate asking price.

Comprehensive Property Advice:
•Chartered surveyors have a broader skill set that extends beyond transactional services. They can offer comprehensive advice on various aspects of commercial real estate, including property condition, development potential, and market trends.

Professional Standards:
Chartered surveyors adhere to high professional standards and ethical guidelines set by organizations such as the Royal Institution of Chartered Surveyors (RICS). Engaging a chartered surveyor can provide you with assurance regarding their professionalism and commitment to best practices.

Dispute Resolution and Consultancy:
Chartered surveyors can assist in dispute resolution, feasibility studies, and other consultancy services. If your commercial property transaction involves complex considerations, a chartered surveyor's expertise may be valuable.

Considerations for Using a Non-Chartered Surveyor Commercial Agent:

Transactional Focus:

•Commercial estate agents who are not chartered surveyors often specialize in the transactional aspects of buying, selling, or leasing properties. If your primary goal is a straightforward sale, and you don't require extensive advisory services, a non-chartered surveyor agent may be sufficient.

Commission Structure:
Commercial estate agents typically work on a commission basis, earning a percentage of the sale or lease value. This commission structure is common and may be aligned with your preferences.

Marketing and Negotiation Skills:
•Commercial estate agents, whether chartered surveyors or not, are often skilled in marketing properties and negotiating deals. Their focus is on facilitating transactions and achieving the best possible terms for their clients.

Key Considerations for Your Decision:

Nature of the Property:
•Consider the type and complexity of your commercial property. If it has unique features, development potential, or specific challenges, a chartered surveyor's expertise may be beneficial. For more straightforward transactions, a non-chartered surveyor agent might be suitable.

Your Objectives: 
Clearly define your objectives for the sale. If you prioritize a precise property valuation, comprehensive advisory services, or specific expertise in a particular area, a chartered surveyor may be preferable.

Agent's Track Record:
•Regardless of their professional designation, evaluate the track record and experience of the commercial agent. Look for an agent with a successful history of selling properties similar to yours and a solid understanding of the local market.

Communication and Rapport:
•Establish good communication and rapport with the agent you choose. A strong working relationship and clear communication are essential for a successful property transaction.In conclusion, whether the commercial agent is a chartered surveyor or not can depend on your specific requirements and the nature of the property transaction. Both types of agents can play valuable roles in facilitating commercial property sales, and your decision should be based on factors such as expertise, services needed, and your overall objectives.