Selling a commercial property is no easy venture. As a Seller, the challenge is not simply to sell at the highest price, but also to ensure that the motivated Buyer is well prepared to bring the transaction to a close. Often times, Sellers accept Offers simply on the merits of a selling price only to learn later that the transaction could never ‘close’ because the Buyer could not quality for financing. Another step Buyers fail to complete is to check City Zoning By-Laws, to ensure that their intended use is a permitted use on the property. The act of having a commercial property ‘conditionally sold’ does not permit the Seller to entertain other Offers. More importantly, Sellers should investigate their own properties before marketing them for sale. If a Buyer discovers that there are ‘work orders’ or ‘open’ building permits at the City, this will negatively affect any transaction. On the other hand, if Sellers are well prepared, then all the positive features should be professionally presented to motivated Buyers to support and increase property value.
Being prepared means doing your homework first. Investigating their properties for my Seller Clients has allowed me to discover potential problems in advance of Buyers. This allows the Seller the opportunity to rectify the problem in advance of a Buyer trying to exploit it for a cheaper price.
Leasing today is a delicate yet complex market. With the internet, Tenant’s can search for available properties and present themselves without proper representation and or the knowledge to proceed. Lacking in information and not trusting the Landlord, Tenants resort to unreasonable and low offers, wasting time, effort and money. To maximize opportunity, in this competitive market, properties have to be aggressively exposed. Not only thru the MLS system, but thru other internet sites, social media, networking, data research and direct marketing just to name a few. Once a Tenant has expressed interest the educational process begins. Tenants should be provided with market data, benefits and values of your property, an explanation of the process and an understanding of your terms and conditions. This lays the foundation for the potential Tenant to continue negotiating to an accepted Offer to Lease. The benefits of providing Tenant’s this customer service, is that often times these Tenant will take a more reasonable position as they appreciate the benefits of the property and the merits of having a good Landlord.
Your Seller / Landlord Representative!
As your Vice President of Real Estate, I will analyze the market activity and report back to you on how best to market and position your property. Prepare marketing material and promote the property utilizing the MLS System, internet, social media, networking, data research and direct marketing. If warranted, to better exploit key or unique features of the property, produce digital high definition virtual tours or customized digital video presentations with site specific narration to improve marketability and enhance the Buyers or Tenant’s appreciation for your property’s benefits and features. Prepare standardized forms for prospects and or the realtors to utilize to produce a more acceptable offer from the start and minimize un-necessary issues. Strategize a plan for negotiation and focus on detail to ensure items are not over –looked in your best interest. Work in concert with your team of professionals while interacting and providing customer service to the interested Buyer or Tenant towards and accepted and successful transaction.