7 Reasons You Will Save Time & Money by Listing Your Commercial Property with a Professional Broker
1.Get A Higher Price
Commercial real estate agents are well aware of the market trends and prices and have very powerful software to analyze every little nuance. We are also very aware of different ways to structure deals to create a win-win for all parties involved. When it comes to leases, there are many different types of leases and some are more common for different kinds of real estate than others. In the case of a sale with terms as the case of a lease there are small clauses and distinctions that can create or save thousands of dollars over the life of the note or of the lease.
Whether you’re a business owner or a working professionally you have a lot to do. If you try to sell your property on your own, then other things in your life will suffer. Will you be able to focus on finding the ideal buyer and getting the top price in the right amount of time when you have so much on your plate already? Will you really be able to take the time to compile and review listings, call listing agents, schedule and arrange property tours, write LOIs (offers), review city zoning, and stay on top of a lengthy negotiation, among other things? By hiring a commercial real estate agent to handle your sale and lease listings, you are freeing yourself of the time it takes to create and update listings on the various commercial real estate listing services, field phone calls and emails from prospective tenants or their agents, show the property, handle a negotiation, and facilitate a closing whether that be preparing and executing a sale, a lease document, or managing an escrow through its process.
This can save you thousands in holding cost; the taxes, insurance, utilities, maintenance, and other cost associated with owning a building or the lost income of having an open unit. If you don’t sell fast enough you can also tie up other things in your life and miss opportunities which can cost more in the long run.
Most owners are not aware that commercial real estate listings are not as centralized as they are in residential real estate. Because there are so many different property and transactions types, commercial real estate has several different listing platforms, and only a couple of them are open to the public.This can save you thousands in holding cost; the taxes, insurance, utilities, maintenance, and other cost associated with owning a building or the lost income of having an open unit. If you don’t sell fast enough you can also tie up other things in your life and miss opportunities which can cost more in the long run.
5.Market Knowledge And Specialization
Commercial real estate agents have a market knowledge that our clients, both tenants/buyers and landlords/sellers, don’t have. After all – it’s our job and like any profession we need to stay on top of the trends in our field. Commercial agents perform much market analysis both on paper and in the field. Who is your ideal buyer? How interested are they really? Are they the right kind of buyer for this property? Will they be able to perform? It is this constant barrage of analysis which we carry with us that allows us to keep up with supply and demand cycles in our geographic regions. Because of this market knowledge we can quickly and inherently know if a listing is priced fairly or if a prospective tenant/buyer is worthwhile or not. We are well read and discussed on the latest market trends which allows our clients the peace of mind to know that we are pricing them as intelligently and as up to date as possible. What was fair market 6 months ago has the potential of not being fair market today.
Commercial real estate agents have access to advanced software that property owners just don’t have. This gives us the freedom and flexibility to efficiently analyze complex expenses and terms and manage complex transactions. With configurable reporting and analytics, you can minimize risk, costs, and maximize performance. Avoid the costly mistake of missing critical data.
Commercial real estate agents are well connected individuals. We are constantly in touch with our market’s movers and shakers: business owners, investors, property owners, our colleagues, politicians, etc. We are always networking, and this wealth of contacts is a huge benefit to our clients. One of the tools a commercial real estate agent will use on a transaction is to email his/her contacts to let the industry know about a deal we are working on. Many times, we or someone on our team already has buyers lined up for your property. We are also able to help that buyer locate the funding they need to close the deal.