If you have never sold commercial real estate before, you probably have a long list of questions that need answering. The best place to look for those answers will always be a commercial REALTOR®, as they are seasoned in the field of selling and buying real estate. Here are 3 frequently asked questions from clients looking to sell their commercial real estate property for the first time!
Should I hire an Edmonton commercial REALTOR?
Although not mandatory, hiring a commercial REALTOR® will provide you with a smooth and successful selling experience. Real estate agents bring a wealth of experience and industry knowledge to your transaction, streamlining the complex process of selling commercial properties. A skilled real estate agent can run a comprehensive market analysis to help determine the best listing price, ensuring your property is competitively positioned. Ultimately, hiring an Edmonton commercial REALTOR® to assist you during the often stressful and complex selling process will prove to be worth any fees you end up paying. Their guidance, expertise, patience, and commitment to your deal will be invaluable.
How do you determine the value of my property?
Many factors come into play when determining the value of your commercial property in Edmonton. Size, location, condition, and income potential are the key elements that influence value. An appraiser or an experienced Edmonton commercial REALTOR® can thoroughly assess comparable sales in the area to determine a ballpark price. Standard techniques used to arrive at an accurate valuation include income, cost, and sales comparisons. The property’s income potential, particularly in terms of rental income and potential future revenue, also plays a considerable role. While market conditions and economic factors also contribute to the property’s value, a qualified appraiser or experienced commercial REALTOR® expertise is essential in providing an objective and well-founded estimate that can serve as a crucial guide in the pricing strategy for a successful commercial real estate sale.
How do negotiations work in commercial transactions?
REALTORS® play a key role during negotiations, using their understanding of market trends and deal structures to secure your best terms. Negotiations are a vital part of any commercial real estate transaction. Your real estate agent’s knowledge will be of the utmost importance during negotiations, as they can leverage their market expertise to ensure you are getting the most money for your property. They can also help you better understand the buyer’s position, negotiating on your behalf. Your Edmonton commercial REALTOR® will advise you on which offers are worth looking at and which are worth countering on. A skilled negotiator can get you the most profitable outcome while saving you time, energy, and stress.
Working with Realty Unleashed
Realty Unleashed is an independent real estate brokerage serving clients in Edmonton and Calgary. Our initial inspiration for Realty Unleashed was shaped by our researched understanding that people who sell or lease properties are dissatisfied with the service they receive. This coincided with our belief that customers deserve better and should expect more from their real estate professionals. If you are considering selling or leasing your commercial property and need a commercial REALTOR® in Edmonton, please fill out the form below, and someone from our team will get back to you soon.