Investing in commercial real estate Resources is not at all like investing in a home. Let’s say you want to sell a business property that you recently bought. Can you sell it without a broker, or do you need one? Let’s talk about how to sell the business property by the owner without getting in over your head.
Due to the needs of business owners, selling Commercial real estate FSBO with Commercial real estate resources will take a lot longer than selling residential real estate. If you want to sell a business property on your own, you can put it in a local ad or use your professional network. However, you should plan to keep it for at least a year.
Let’s talk about what a Commercial real estate FSBOagent can do for you and if it’s worth the money. We’ll also talk about a reasonable timeline for what you can expect whether you use a broker or not.
WHAT DOES IT MEAN TO SAY “COMMERCIAL REAL ESTATE RESOURCES”?
You might think that selling with Commercial real estate resources is a piece of real estate that would be the same no matter what, but there are some differences that need to be taken into account.
In general, real estate falls into one of these three groups:
Residential: This is a single-family house like any other. Residential also includes duplexes and triplexes, which are smaller multi-family homes.
Industrial: These are usually warehouses or sites with more than one building. Most of the time, these buildings don’t have stores or offices. Instead, they are usually sheds or places where things are made.
Commercial real estate resources and commercial properties have some kind of business operation that isn’t directly tied to manufacturing. Office buildings, stores, restaurants, and anything else that can house five or more different families is called a “five plex,” and so on.
Since they are often zoned the same, “commercial” and “industrial” are sometimes used equally. Commercial property is any place that makes money and is not a single-family home.
WHAT A BUSINESS REAL ESTATE AGENT DOES
Many people who invest in residential real estate don’t like using real estate brokers and prefer to buy and sell on their own. If you’re an experienced investor, you might be able to do it on your own because you’ll know where to find homes and how each sale will go.
The same is true for business property. After all, business brokers don’t get special training or licenses; they go through the same licensing process as any other agent. Still, if you’re dealing with business property and you don’t know much about the details of commercial transactions, you might want to hire a commercial agent to help you.
HOW TO SELL BUSINESS PROPERTY BY OWNER
Overall, selling business real estate is the same as selling residential real estate: find a buyer, have the money sent to your title company, transfer the title, and collect your profit.
The most important change is in what you should expect. Commercial real estate resources deals don’t move as quickly as private ones, and they can sometimes take years to finish.
The reason is the thing that would make a business owner want to move. Even though there are some things to think about when moving a single family, it is much harder to move a whole business.
Commercial real estate resources can be sold on your own, but in my opinion, it’s better to have an agent on your side. Even though you might be able to sell something between 1500 and 2000 square feet on your own, I think the 6% profit is worth it for the peace of mind. Knowing I’m not making mistakes I didn’t know I was making and being able to use an experienced business broker’s network is well worth the cost to me.