Some Real Estate Agents do not know how to sell Commercial Properties
Sep 21, 2021
| 2288 views | 0
You can’t just take a Commercial Listing and jump around because you got an exclusive listing. If you just let the owner dictate a price to you and you yes him to death and say just sign here, your wasting your time and career.
if your not fully loaded with comps, potential rents per square foot and don’t know potential rental income, you are wasting your life away
Example: Tax payer property- just a store front
if you know the income is $5,000 monthly, and $60,000 yearly, then a user or investor may pay 15x ‘s yearly income
That is a potential $900,000 dollar selling price.
If you take the listing because the owner wants $1.1 million in his pocket, you are wasting everyone’s time.
you must know if place is empty what is the going rent per square foot. So if investor comes by and asks you then you
can tell him. If you don’t know you look ignorant to a buyer.
important facts everyone should know if you are going to sell
If you have the wrong price from the beginning, what good is it, if a client comes along with 30% down?
Bank won’t give the mortgage. Rental income doesn’t demand the selling price.
Agents should know this and what a Cap Rate is and so on.
So many agents aren’t trained properly.
Having a half dozen Cimmercial listings that are overpriced
means you make nothing the next six months in the business
Thank you Jim Turano for your input on this
subject and shedding light to the dozens of agents out there
in these situations.
Jim Turano has 42 years of experience in the business
He had completed over 4,000 written appraisals to date.
Anyone have any questions feel fee to call me.