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Commercial real estate pros face safety issues unique to their work. In a recent podcast, “Staying Safe in the Commercial Real Estate Space,” part of the “Drive With NAR” Safety Series, podcast guests highlighted four risks and recommended safeguards.
- Physical Safety
In a common-use building, there may be hallways or spaces that could hide dangers for a lone agent, said Dawn Aspaas, a broker with Complete Real Estate in Sioux Falls, S.D., and a business transition consultant. “Know how to easily exit.”
“Security cameras are a deterrent to some extent, but they may not be positioned where they’re capturing the right information,” said Brian Woods, cips, rene, c2ex, broker-owner of Team Realty and Investment Solutions in West Palm Beach, Fla. Pay attention to where you park, and watch for lighting and landscaping that could obscure a person.
Notify someone about your whereabouts at all times, Aspaas advised, including where you’re going, who you’re meeting with and when you’re expected back.
- Online Scams in Land Transactions
Commercial properties aren’t immune to the risk of online real estate scams. In fact, Aspaas said, one of her clients once mistakenly believed they were getting a great deal on some land and wired $5,000 to the person they thought was the seller. But the deal wasn’t real. “Make sure buyers know not to look for land in places like Craigslist,” she adds.
- Environmental Issues
An environmental site assessment can protect the buyer’s rights going forward, Woods says. “We’ve got to have the right professionals come in to provide the right information to people. Making sure that our customers and our clients are aware of these potential challenges—that’s our role.”
- Abandoned Property
“Don’t go in unless you know what’s in there,” Aspaas cautions. “Always wear the proper gear. Your shoes need to be closed. Get the owner to go with you if they’re available.”
