With economic growth forecasted for 2016, this year is shaping up to be the ideal time to negotiate significant commercial real
estate transactions between buyers and sellers. Although commercial real estate can be an entirely different ballgame than selling
residential properties, you can still do well in the upcoming months by following the same trajectory: researching the market and
staying abreast of current trends.
Look for Motivated Sellers
Depending on your target area, certain commercial properties can languish on the market for an unbearably long time. A
motivated seller wants to make a deal and wants to close within a reasonable timeframe. The ideal seller of commercial real
estate will have a grasp on the market value of the property and be willing to negotiate the price.
Be Involved in the Appraisal Process
Finding a knowledgeable and professional commercial real estate appraiser is a must for agents. An appraiser will have to
research a large amount of past and current records to determine a fair market value for the commercial property. Appraisers not
only look at the inspection report and comparables in the area, but will also review zoning records, past ownership details, sales
data, rentals, and replacement costs.
Double Check the Documentation
Selling a commercial property requires a lot more legwork than listing a residential home. Buyers of commercial property are
taking a financial risk and want to know that their investment is protected. The most basic paperwork you should have ready for
prospective buyers includes lease copies, title deed copy, work permits, tax bill copies, utility bill copies, and prior appraisal
Curb appeal is a must no matter when you’re planning to sell a commercial real estate property. Serious buyers are going to be
discouraged if they spot major problems with a property. All areas of a commercial property should be thoroughly cleaned and
inspected with the seller addressing any problems before listing the property.
Become an Expert
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2016 is the time to strengthen your expertise in the commercial real estate market. The National Association of Realtors offers
specialized training to become a Certified Commercial Investment Member. These seminars offer a wealth of knowledge on
commercial real estate negotiations, transactions, and market analysis.