The medical office real estate industry is growing at a rate twice as fast as office real estate. Since 2000, it’s increased by 40%. This aggressive growth is thanks to reform in the healthcare field and an increase in demand for medical services.

If you’re looking to expand your healthcare facility or network, you need the assistance of a real estate agent. As you know, a lot more goes into selecting the right property for a healthcare facility than other real estate needs.

What makes a good realtor? The answer to this question can vary, so read this guide to help you know what to look for when hiring a healthcare real estate agent.

1. Expertise

Ask the real estate agent what kind of experience they have in the healthcare real estate industry. The agents will have extensive experience in finding the right piece of property for healthcare clients.

To further narrow down your options, ask what types of clients the real estate agent works with. Each medical specialty has specific needs that need to be met.

  • Dental
  • Fitness
  • Pharmacy
  • Physical therapy
  • Chiropractic
  • Dental
  • Veterinary
  • Vision care
  • Senior housing
  • Hospital
  • Outpatient centers

Some agents are more experienced working with smaller, independent facilities. While other agents understand the needs of a statewide or national organization with several locations.

2. Services

Look for a real estate agent that can provide a suite of services. This will ensure you can work with one office and team for all of your real estate needs. These are some common services that you may need concerning your healthcare real estate.

  • Lease renewals
  • Expansions
  • Relocations
  • Additional offices
  • Land purchases
  • Practice acquisitions

Each of these real estate transactions is different and highly detailed. You need an agent that has experience with them so that they understand the nuances of the contracts.

3. Network

Ask around about potential real estate agents. Does the agent of your choice have a positive reputation in the market? If no one’s heard of them, figure out why.

This could be a sign that they are brand new to the market. While this shouldn’t automatically disqualify them, it’s a sign they may not have the most knowledge of the market.

When asking around, you may find that a particular agent has a negative reputation. This will signal that you should keep looking. You’ll know that you’ve chosen the right healthcare real estate advisors when they have a positive industry reputation and are well connected.

What Makes a Good Realtor? Now You Know

If you’re ready to expand your healthcare facility, then your next step is to enlist the help of an experienced and knowledgeable real estate agent. So what makes a good realtor?

After reading this article, you should know what qualities you need to look for. This will ensure you work with someone who can bring value to your search for a suitable property.

Browse the business and finance section of our blog for more helpful articles like this one.

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