Question 1

What are your qualifications?

Accepted Answer

I am a Certified Commercial Investment Member (CCIM). The certification is designated for those recognized as experts in the disciplines of commercial and investment real estate. With over 19 years of successful experience as a broker, I have brokered the sale of over 1,000 properties.

Question 2

How do you find a buyer?

Accepted Answer

I utilize a variety of strategies to bring buyers to the deal. I have access to a strong and vast network of industry professionals. I have relationships with buyers and others who refer clients to me. Additionally, I use LoopNet, MLS and Costar and other online resources.

Question 3

Do I need to hire an attorney when selling my property?

Accepted Answer

We are commercial property agents and do not provide legal advice. We do, however, work with skilled and experienced real estate attorneys and seek their counsel as necessary.

Question 4

What do commercial property brokers needs from their clients to expedite the process?

Accepted Answer

Commercial property brokers need information from their clients. For example, a commercial broker will ask their clients to provide important details about the history of the property and other facts crucial to its sale. Open and responsive communication makes selling a commercial property much easier.

Question 5

How long does it take to sell my property?

Accepted Answer

The length of time it takes to sell a property is dependent upon many factors, like the amount of due diligence required to get the property ready to sell. A sale typically averages 6-12 months in the bidding process.

Question 6

What is a 1031 exchange?

Accepted Answer

A 1031 exchange is a swap of one investment property for another that allows capital gains taxes to be deferred.

Question 7

How are you determining the sale price for my property?

Accepted Answer

Your broker will consider many factors such as the location of your property, the year it was built, the type of property, and the size of the property. Your broker should be taking a market approach, which means they are looking at recent sales of other properties that match many of the characteristics of your commercial property to determine the sale price.

Question 8

Does the grade of my office space matter?

Accepted Answer

Properties are broken down into three classifications. Each property classification reflects a different risk and return because properties are graded according to a combination of geographical and physical characteristics. These letter grades are assigned to properties after considering factors such as age of the property, location of the property, tenant income levels, growth prospects, appreciation, amenities, and rental income. There is no precise formula that dictates which properties are placed into which class. Grade A space is the most expensive and presents the least amount of risk. Conversely, Grade C is the least expensive but has the most amount of risk. In most instances, it would be cost prohibitive to try and invest enough money into your property for the purpose of moving it up a grade.

Question 9

Why do I need a commercial property broker?  I can sell it myself.

Accepted Answer

There are important benefits to working with a commercial property broker. An experienced and astute broker will have strong relationships with other industry professionals to help locate buyers, will thoroughly understand market trends, and has tried and true marketing techniques and resources.

Question 10

How do commercial property agents get paid?

Accepted Answer

Agents get paid by the property owners via commission. An agent’s commission does not affect the purchase price.

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