How to hire the right commercial real estate advisor

Whether you’re expanding, relocating, or investing, the right commercial real estate advisor can make a significant difference.

But how do you ensure that the professional you choose truly understands the market and prioritizes your best interests?

Industry experts Simon Bharwani, Chief Commercial Real Estate Officer at Alliance Real Estate Malta, and Etienne Licari, Commercial Real Estate Advisor at AGILE, share their insights with MaltaCEOs.mt.

One of the first steps business owners should take is conducting an online check of the advisor’s profile and experience in the sector.

Mr Bharwani stresses that understanding the commercial property market requires continuous learning.

“At Alliance, we provide ongoing training sessions for our commercial property advisors to ensure they stay ahead of market trends,” he explains. If a real estate company does not offer specific commercial property training, that could be a red flag.

Mr Licari, on the other hand, suggests a more direct approach – testing the advisor’s knowledge.

“Ask them key questions: How has pricing changed? What hidden opportunities exist? How do industry trends impact availability? A good advisor won’t hesitate or need to check with colleagues for basic market insights – they should live and breathe this information.”

Signs an advisor might not be the right fit

A lack of industry-specific training is just one warning sign.

Other red flags include vague answers to market-related questions, a scattered approach to property listings, and a transactional mindset rather than a consultative one.

According to Mr Licari, hesitation or a lack of confidence in responding to fundamental market questions should be taken seriously: “Top-tier advisors are in the trenches daily. They have real-time insights into what’s in demand, where the supply is, and what’s coming next. If they seem out of touch, they may not be the right fit for your business.”

The benefits of working with a single advisor

Both experts advocate for working with a single commercial real estate advisor rather than multiple ones.

Mr Bharwani highlights that exclusivity builds trust and allows the advisor to better understand the business owner’s needs.

“This results in negotiating the ideal commercial property with the right terms and conditions,” he notes. However, he acknowledges that if an advisor fails to understand the client’s requirements or if the chemistry isn’t right, then seeking another professional is justified.

To safeguard against mismatches, Mr Bharwani explains that at Alliance, advisors discuss clients with their management teams for support in difficult negotiations. “Most times, office managers also consult with me for additional guidance,” he says.

Mr Licari adds that working with multiple advisors can create confusion and inefficiency.

“When multiple advisors are involved, clients often receive conflicting suggestions or even the same properties being proposed multiple times, leading to unnecessary complications,” he explains. “If I know a client has already seen a property suggested by another advisor, I can’t propose it again. This creates a conflict of interest and discomfort for everyone involved.”

Another issue he highlights is that business owners often believe engaging several advisors gives them broader market coverage. However, in reality, most commercial properties are listed with multiple agents.

“The client then gets overwhelmed with numerous agents contacting them, yet they still end up working with just one,” he says. Instead, he advises a sequential approach – speak to one advisor at a time before moving to another if necessary.

Ensuring the advisor works in your best interest

A good commercial real estate advisor does more than close deals – they negotiate terms and conditions that are in the best interest of both the business owner and the property owner.

Mr Bharwani reiterates that commercial property deals can be highly technical, requiring sound market knowledge.

“This is why continuous training is so crucial,” he emphasizes.

Mr Licari also points out that the best advisors don’t just find opportunities; they create them.

“The best opportunities aren’t just found – they’re the result of deep market knowledge, strong relationships, and strategic positioning,” he says.