What to anticipate with my first commercial real estate deal?
Question by Adriana A: What to anticipate with my first commercial real estate deal?
I have been a real estate agent in Texas for a year now but have only done residential deals. I have a group of clients who are interested in looking at a 1 million dollar commercial property to start their business. I am nervous about what to expect. What questions might they ask? How should I prepare? I’ve never done a deal this big and don’t want to mess anything up! Any suggestions??
Best answer:
Answer by vasudharealtors
You have to well conversant with their Requirement and also you should well conversant with Properties which you are having to suit their needs.If you are not having the Properties of their needs you take assistance of the Big Realtors at your area.Further there are big Realtor companies in your area and they will assist you on profit sharing Basis.When Opportunity comes don’t loose on the ground that you only have to take entire Profit.
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Comments: 2 Posted: September 4th, 2011 under Real commercial property
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Comment from
Viktoria
Time
September 4, 2011 at
7:12 am
Ask one of your colleagues or local commercial broker associates with experience to co-broker the deal with you. It will be a good learning experience for you well worth the split commission. Another option would be to use the help of a real estate lawyer to help you with the due diligence process and paperwork. Again, the cost will be well covered by the commission you will make on such a large deal.
Comment from Laid Back
Time September 4, 2011 at 6:53 am
I own and invest in commercial as well as single-family property. My advice is to just refer them to a Realtor who specializes in commercial deals and get a signed agreement that you will share in the commission. You could get in over your head here and possibly end up in a lawsuit, but forgetting that your clients deserve someone to assist them who has the knowledge you lack