While the safety conversation in real estate often focuses on residential agents, it’s crucial to remember that commercial real estate agents face unique risks. From entering unoccupied buildings and large spaces to handling complex client relationships, commercial agents must remain vigilant to protect themselves and their clients.
Scout the property in advance
Commercial properties – particularly vacant buildings and large parcels of land – can pose significant risks. Before showing any property, consider visiting it beforehand to familiarize yourself with the layout.
If possible, tour the property with another agent to ensure you understand potential hazards like unlit areas, multiple exits, or hidden spaces where someone could lurk.
Know your exits
When entering any building – particularly large commercial properties – make sure you’re aware of all exit points. Like in residential showings, avoid letting a client or prospect get between you and the door.
This simple strategy allows you to stay close to an exit in case you need to make a quick escape.
Use the buddy system
Just as in residential real estate, commercial agents can benefit from the buddy system. Whenever possible, bring another agent along when visiting a property, especially in isolated areas or vacant buildings.
Having someone with you not only provides an extra layer of security but also ensures you have support if something unexpected occurs.
Be aware of the environment
Vacant land listings and large, isolated commercial properties can harbor unexpected dangers. For instance, obstructions such as tree stumps or abandoned materials can pose physical risks.
In addition, vacant buildings might attract squatters or animals, which could lead to dangerous encounters. Wear appropriate gear like sturdy shoes and avoid entering properties where conditions seem hazardous.
Leverage technology for safety
Several tools can help ensure your safety when dealing with clients and properties. For example, the member benefit FOREWARN app allows you to verify a prospect’s identity before meeting them in person.
This location-sharing app can provide real-time updates to colleagues or family members. Ensure someone always knows where you are, who you’re meeting, and when to expect you back.
Insurance and liability concerns
Commercial properties carry a higher risk due to larger property values and potential liabilities. Slips and falls or other accidents can result in large lawsuits that affect not only the property owner but also the agent and brokerage.
Ensure that proper liability and property insurance are in place, and make it part of your routine to discuss these concerns with property owners.
Stay cautious in remote areas
Some commercial properties, such as vacant land or isolated industrial sites, are in remote areas with little to no cell service. This makes it even more important to share your location with someone who can track your whereabouts.
If possible, avoid going alone, and ensure someone is always aware of your location.
Preventing fraud in commercial transactions
Commercial real estate transactions are not immune to scams, especially with online listings. Ensure your clients are informed about the potential risks of fraudulent listings or transactions and guide them to verified and trusted sources for property searches.
As a commercial agent, you should always be on alert for signs of fraud, especially when dealing with unfamiliar entities.
Plan ahead and stay prepared
In commercial real estate, nothing should be treated as an emergency if you’ve prepared thoroughly. Taking the time to assess the property, verify client information, and ensure your personal safety is paramount.
By following these safety practices, you can protect yourself while continuing to deliver excellent service to your clients.
Commercial Realtors face unique risks, but with the right strategies in place, you can minimize these dangers and stay safe. Remember, your safety is just as important as the deal you’re working on.
Stay alert, stay informed and always trust your instincts. #ThatsWhoWeR