ORANGE COUNTY, CA—There are basic procedures and processes go through when choosing a brokerage firm, and then there are the inside secrets. In this exclusive analysis, brokerage experts tell GlobeSt.com what to look for and the process to follow in order to find the best fit for your company and the type of real estate business you do. And stay tuned for an upcoming feature in Real Estate Forum on how to know which size brokerage firm is best for you.

First and foremost, clients should verify licensure and look at online reviews, Ian Whitman, chief strategy and operations officer for Rosano Partners, tells GlobeSt.com. “It's essential to verify a firm's reputation. Further, if a client is working with a new agent, the client should ask about the firm's training programs. A well-trained team will always deliver better solutions.”

Whitman says clients should also review how various properties are presented from a brokerage and look for errors. “This is a strong indication of the ability the brokerage has to present. We also recommend that potential clients ask for samples of previous properties sold. Clients can then compare sold price vs listing price and see how long the property was on the market. These facts can be telling.

It's also a good idea for clients to interview a brokerage's former clients and asking about agent response time, says Whitman. “Choosing a firm that is responsive, has a strong track record and has a clear tiered marketing plan will help a client to achieve maximum value on their real estate needs.”

Naturally, technology has completely changed the commercial real estate investment world. “For that reason, clients should choose a firm that is making use of all new marketing methods,” says Whitman.“Is the brokerage firm's website mobile-friendly? Does the website use Geolocation? Is the brokerage using SMS and MMS marketing? Do they use any alternative marketing (i.e. foreign media)? Do they use videos to display properties?”  He adds that clients should review how properties are presented online and ensure that the brokerage they select is truly providing all the technological solutions that are available in today's marketplace.
“A mistake that I often see made is that sellers do not choose a brokerage that has the correct expertise or scale for their needs,” Paul Rogers, president of Inland Real Estate Advisors, tells GlobeSt.com. “It's crucial to find a brokerage firm with a skill set that reflects the property type you are trying to buy or sell. Some firms only focus on one specific area—you wouldn't hire a retail firm, for example, to sell your industrial property—which could, in the end, be a critical mistake, but one that I see made all too often.”

Dan Boris, president of DNB Commercial Inc., tells GlobeSt.com it's crucial to look beyond the brokerage to the broker with whom you'll be working. “You're not just choosing a brokerage; you're choosing a person. It's critical that you feel your broker is honest, competent, and likable. Real estate is one of the most costly investments an individual or company will make. Don't underestimate the importance of the relationship.”

Referrals from like-kind clients are a vital part of choosing a firm, David Birnbrey, co-CEO and chairman of the Shopping Center Group, tells GlobeSt.com. “I wholeheartedly believe in the concept of 'ask anyone about us' as the best way to vet a potential brokerage partner and surmise how a brokerage firm has worked in the past, how it currently works and how it will likely perform in the future.”

Many feel the brokerage industry and service is a commoditized product, but this isn't the case, Eric Feinberg, SVP and co-head of Savills Studley in Chicago, tells GlobeSt.com. “The level of talent and skills from brokerage team to brokerage team varies greatly and can drastically affect the outcome of a transaction. Often, there are large sums of monies at stake and other key factors that might affect the operations of a business. It is important to choose a team that is well qualified.”

Fred Schuler, managing director and broker lead of JLL in Chicago, tells GlobeSt.com it's important to prioritize ethics and integrity when choosing a brokerage. “A well-established, financially secure brokerage can offer a track record that speaks for itself. When a broker knows your industry's ebbs and flows, it should feel like talking to a loyal advisor and old friend. Comfort level is key when entrusting someone with your real estate needs, but don't forget to do your homework. Empower yourself to ask questions and be your own advocate. It should be a relationship of equals that welcomes healthy debate.”

Lastly, choose a brokerage that is truly client focused. “At times, our industry can be driven as much by the brokers as by the clients,” Solomon Poretsky, EVP of organizational development for Sperry Van Ness, tells GlobeSt.com. “Some brokers and some brokerage firms have chosen to flip that paradigm and truly do client-focused business. That focus is a powerful thing to have on your side