Listing Your Commercial Property With A Commercial Real Estate Agent

 

It is important to determine the asking price and who will market the property before you list it. Before you sign any contracts or make any decisions, it is important to determine the best way and place to market your commercial property. These are some important things to keep in mind as you prepare to sell your commercial property.

Many commercial property owners believe that selling their property to an owner will reduce the cost of commissions. Selling your commercial property to an owner might not result in the best possible price. This is because your options for marketing your property are limited. A lot of property owners who sell by themselves may put a "For Sale” sign on their property, and then list it Luxury Real Estate In Sedona Az on several online listing sites. The owner could have listed the property with an agent to take advantage of the many paid listing services that only agents have access and the organizations real estate agents belong to. This would increase the chances of the seller selling their commercial property. Your commercial property will sell quicker if it is exposed more.

A second benefit to hiring an agent is the ability to take phone calls from potential buyers. Agents can help you market your property and screen qualified buyers. Agents can also be a buffer during due diligence and the period leading up to closing. Agents ease the burden for commercial property owners by communicating with title companies, lenders, attorneys, and other parties on their behalf.

Agents are usually paid a percentage of the selling price as a commission. This is typically between 3% and 10%. It is important to understand that all commissions can be negotiated before you sign a listing agreement. Commission percentage is determined by the type of property, location, and how saleable it is. A strip mall in an economically poor area of town might be difficult to sell. Agents will be motivated to sell such properties if they receive a higher commission. A higher commission will be presented to potential buyers more favorably by a realty agent.

It is important that you choose a commercial broker to represent your commercial property. Commercial and residential properties require different marketing approaches. A good commercial real estate agent will be able to identify the market trends and market your property to the best clients. Multi-page marketing brochures for commercial properties are required. They should include pricing information, demographics, CAP rates and rent rolls. Income & expense statements, topography maps and site plans. Property and aerial photos, PIP lists, and other pertinent information. Potential buyers will be more inclined to accept an offer if they have such detailed information. A good commercial realty agent will be able to help you determine the right asking price for your commercial property. This is due to its location, market trends and current economy. Commercial real estate agents are more skilled than residential agents in protecting the interests of their clients when they close commercial real property transactions. These transactions can be more complex and difficult than residential. Additionally, commercial real estate agents with experience have developed relationships in commercial lending to speed up the closing process.