Whether you've invested with a commercial real estate broker or on your own, at some point you may want to sell some of your assets. Here's what you should avoid when taking that step. Don't Wait for a Buyer Waiting for a buyer to come to you will have you waiting a long time. A broker can help you find buyers that are already looking for investment properties, which can save you money and time. Try and find at least two qualified buyers so that you can choose between competing offers. Don't Be Dishonest If you are having any issues with tenants, staffing, or equipment, it's best to just be upfront. A good buyer will do due diligence, and if they discover you've been trying to hide something, the deal will likely be off. Don't Set Your Price Too High When you are pricing your property, be careful thinking you'll get more than the market price for it. You want to make a good profit and have invested a good amount into making it what it is, however, pricing too high can lead to frustration and will decrease the likelihood that you will sell quickly. Don’t Forget To Hire a Commercial Real Estate Broker Selling a commercial property can be time intensive and take away from other projects you are currently working on. Unless you have many years of experience, it's probably best not to go at it alone. A commercial real estate broker knows the ins and outs of buying and selling. They have a portfolio of potential buyers and can also help you negotiate a great deal.
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AuthorHello, my name is Roger Dennison and I'm a successful commercial real estate broker, with more than 20 years in the field. Archives
January 2023
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