2016 Real Estate Agents for Small Business Reviews & Ratings
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When it comes to your business, you can’t afford any wrong moves. Find out which real estate agent is rated highest by small business customers.
Canstar Blue research finalised in August 2016 and published in October 2016.
Raine & Horne moves up in small business real estate ratings
One of the biggest decisions and costs for a small business is office or storefront location. Decisions on real estate are critical to any small business. Not only is it costly, but it also locks businesses in for years. Therefore, any small business that needs to make the right moves in terms of its location would do well to seek the advice of a local real estate agent. But which agency is best-suited to small business needs?
Each year, Canstar Blue conducts a review of real estate agents to see which are rated highest for general home services and small business purposes. The ratings feature the biggest names in the industry, and while First National topped the ratings for home services, Raine & Horne is leading the way for small business customer satisfaction, our research shows.
After earning four stars overall in 2015, Raine & Horne has improved to an overall rating of five stars, meaning it replaces Century 21 at the top of the standings. Raine & Horne also achieved top reviews in terms of its communications, advice provided and the value for money it is deemed to offer.
A real estate agent should be able to provide business customers with the local knowledge and advice they need to make well-informed decisions about their location. If you don’t think the real estate agent your business uses is up to scratch, we hope these ratings prove helpful.
The cost of renting
Renting a good property for business purposes is not going to come cheap. However, it is very important that a business secures a beneficial location, particularly if it is customer-facing. We found small businesses with a rental property are spending an average of a little under $3,000 per month – that’s a huge amount for any business, let alone a small one. Indeed, 62% of the small business owners and decision-makers who responded to our survey told us that renting their property is the biggest expense they face. The good news is that 89% of small businesses believe they are in a good location.
Our survey found that 44% of small businesses have relocated in the last three years. Their reasons were as follows:
- For more space: 37%
- For cheaper rent: 36%
- For smaller space: 27%
- Other reasons: 12%
Going forward, the majority of small businesses (65%) have no plans to relocate, while 23% would like to upgrade their premises and 12% are considering downsizing.
Whatever the next move is for your business, we hope these ratings help point you in the right direction.
Frequently asked questions
Canstar Blue commissioned Colmar Brunton to survey 800 small business owners or decision makers (i.e. the main decision maker for a small business) across a range of categories to measure and track customer satisfaction. The outcomes reported are the results from customers within the survey group who have used a real estate agent for business purposes in the last three years – in this case, 513 people.
Brands must have received at least 30 responses to be included. Results are comparative and it should be noted that brands receiving three stars have still achieved a satisfaction measure of at least six out of 10. Not all brands available in the market have been compared in this survey. The ratings table is first sorted by star ratings and then alphabetically. A rated brand may receive a ‘N/A’ (Not Applicable) rating if it does not receive the minimum number of responses for that criteria.