When you have a business, you can accumulate property over time, which can be very valuable to your business. However, when it comes time to sell that real estate, you might be wondering which real estate firm to work with, since things can shift quickly. Here are three things you should ask different real estate firms before hiring them to represent your business.
1. "How Will You Make Marketing Stand Out?"
Marketing is everything when you sell a commercial property. If the building or office isn't advertised heavily, it could create problems with the future sale of the space, which could hurt your ability to enjoy a similarly spaced property in the future.
Talk with different businesses about what kinds of marketing services they offer, and how they plan to show off your property. Ask if they offer different packages to market properties, or if you can have a custom plan for your space. Try to look for other properties they are currently trying to sell to see what kind of marketing plans they have put together in the past.
2. "What's The Average Turnaround Time?" Ask how long they typically represent properties and whether or not they sell for close to list price. Oftentimes, real estate agents track their own statistics on how closely a property sells compared to its list price, which can give you a better idea of whether or not a company is worth working with.
Think about your own timeline for being in the building, selling it, and getting into a new place. Make sure whoever you work with meshes well with your personal timeline, so that you can enjoy an easy transition into your new space. For instance, if your lease is up in a month and they typically sell properties in about that timeframe, it may be easier to move into another property.
3. "Got Any Great Pocket Listings?" When you are shopping for a new commercial building, talk with different real estate agents about whether or not they have any pocket listings that aren't currently on the market. Oftentimes, realtors know about properties that are about to go up on the market, giving their clients an easy way to invest in a place without spending a lot of time looking.
Remember, when you receive offers on your commercial property, be on the lookout for strange terms that could spell trouble with the sale of your business. For instance, if the new buyers need to secure a great deal of financing, it could make it more difficult to close the deal, which could spell trouble in the long run. Always be mindful of every detail of the deal to create a streamlined experience. For more information, talk to your real estate service provider.Share