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Item Upon - Things You Should Consider Before Listing Your Commercial Property
HTML Links In Plain EnglishHTML links. The heart and soul of web pages. Without links it would be impossible for a visitor to get from one web page to another, meaning that without HTML links, web pages would be pretty worthless.Everyone at one time or another, has received an email and inside of it they see something that says "click on me" and then when they do they are transferred from the email they received to some web site. What they clicked on was a link. Most email programs allow for HTML or at the very least, links, so that a person can get from their email to a web page.Once at the page, the real navigation around the site begins, that is unless the page is the only page in the site. In that case there probably won't be any links for the visitor to click on from that point. But in most cases, this page is just the beginning.In HTML, links are designated by the [a] tag. The action of going from one we environment assessment report, not typical needed in a residential transaction but required by commercial lenders. Not providing all the required documents to the buyer in a timely manner may jeopardize the transaction.
The offer process: In commercial real estate, the selling broker often presents a one-page Letter of Intent or LOI instead of a contract. This LOI states the key points: price, earnest money, due diligence period, financing terms, and closing date. Once the LOI is accepted, both parties will work on the contract. A commercial listing broker will not ask the buyer for a prequalification or pre-approval letter which is typical in residential transaction but not in commercial transaction. This is because the loan approval process for commercial property is so different such that lenders don’t issue a pre-approval letter.
Escrow: it normally takes 21-30 days for due diligence or buyer to investigate the property and 60 days to close escrow when financing is involved. A commercial real estate broker won’t demand 30 days escrow like in a residential transaction because he knows it takes a long time for a commercial lender to approve the loan.
Financing: in commercial real estate a higher percentage of transactions do not close because the buyer cannot get the loan. In a transaction th Good Grief, Not Another Credit Card Application... These Offers Are A Waste Of Time - Or Are They?If you're like most consumers when you go to check your mailbox you'll most likely see another credit card application. It seems that almost daily we are bombarded with another opportunity to try out a credit card from pretty much every credit card provider that is known to exist. Let's just suppose for a second that you really are interested in obtaining a new credit card. How would you know which credit card application to fill and respond back to based on the outstanding low introductory rates and other perks and benefits they offer to new customers?Although most of the credit card applications come by the United States Postal Service, you can still receive phone calls from the credit providers telemarketing department (although this marketing method has slowed down). Perhaps the easiest way to see if the credit card offer you're thinking of applying for truly meets your needs is to visit their se After owning your commercial property for several years, it’s time for you to sell the property. There are a few things you should know and consider before listing your property.
What Commission You Should Pay?
It’s often a percentage, typically from 3 to 6% of the list price. The commission is negotiable and dependent on various factors
- Price: in general the higher the price, e.g. $10M, the lower the percentage.
- How difficult it is to sell it. For example to sell a vacant building in a declining area, you should pay a higher commission.
As a seller, it is tempted to think your net proceed is more if you pay low commission. However, when you take away the commission, you take away a very strong and perhaps the only incentive from people who make a living selling your property to their investors. They may choose to sell other properties instead. Less competition may result in lower price for your property.
The commission is often split 50/50 among the listing office and the selling office. However, it’s not always the case. Some listing office feels it deserves 2/3 of the total commission because it has 2 people working as a team. The question to ask is “Does this commission split best serve your interest?” As a seller, you want to get the biggest bang for your buck. That means a fair split that will most likely bring the most number of offers to the table. So you should consider asking the listing broker to:
- Split the commission 50/50 with the selling office.
- Make the listing available to all brokers inside AND outside of the listing company at the same time. Some companies have the policy of keeping the listings in house for the first 30 days. This allows the office to sell the property to just their own clients and keep the all the commission. Once they cannot sell the property to their own clients, they make the listing available to all other offices. This action is in conflict with your interest and may even be unethical because the property does not have maximum exposure to all the potential buyers.
By doing so, you will be likely to get the most number of offers. As a result you will be likely to get the highest price for your property.
Some brokers specialize on “no commission to the buyer’s broker” listings. Sellers only pay commission to the listing office and buyers must pay commission to their agents. This may sound fair to you as a seller and you would think your net proceed would be higher because you don’t have to pay a commission to the buyer’s broker. However, this author is not ware of any studies showing the seller gets more money with this approach. The reality is different because:
- You take away the most important incentive from the selling brokers: money. They may decide to sell other properties to their clients instead.
- Even when sellers pay commission, mentally the buyers still think they are really the ones who pay the commission which is included in the purchase price. This is the reason some buyers prefer to buy “For Sale By Owner’s” or FSBOs.
- Buyers must come up with more money to buy your property. They cannot get financing for the commission since it’s not included in the purchase price. This may discourage buyers from making offers.
- Buyer’s broker may present an offer and state that the real price is the purchase price in the contract minus his commission.
As a result, you are less likely to get the maximum numbers of offers and consequently not the highest price for your property.
Does it matter which broker should you hire?
While any licensed real estate agents can list your commercial property, you don’t get any benefits when you hire a residential specialist to do the job. Commercial and residential properties are 2 totally different products which require different marketing plans and selling process.
- The brochure: commercial properties normally have a brochure instead of a flyer as often used in residential properties. The brochure is given to potential buyers who may be out of the area, out of state or even out of the country. This brochure contains pricing, property pictures, site plan, satellite map, rent roll, income, expenses, demographic, and traffic volume information. Investors often look for information that they really care about such as Net Operating Income (NOI), cap rate, and lease term (gross or NNN). They often make offer based on the information in the brochure alone without even seeing the property personally (they inspect the property during due diligence period). Some of the information in the brochure may be confidential, e.g. rent roll, in which you may want the buyer to sign a confidentiality agreement first.
- Pricing: Most commercial properties are one of a kind and very unique in appearance, quality, location, lot size, number parking spaces, tenants list, etc. Many have no comparables like residential properties. So setting the right price is more complex and not as straight forward. Should it be priced based on net income, market value or construction cost? The property would not sell if priced too high. You lose potential profits when priced too low. So you want a commercial specialist to do this.
- Documentation: sellers are required per contract to provide various documents, e.g. survey and environment assessment report, not typical needed in a residential transaction but required by commercial lenders. Not providing all the required documents to the buyer in a timely manner may jeopardize the transaction.
- The offer process: In commercial real estate, the selling broker often presents a one-page Letter of Intent or LOI instead of a contract. This LOI states the key points: price, earnest money, due diligence period, financing terms, and closing date. Once the LOI is accepted, both parties will work on the contract. A commercial listing broker will not ask the buyer for a prequalification or pre-approval letter which is typical in residential transaction but not in commercial transaction. This is because the loan approval process for commercial property is so different such that lenders don’t issue a pre-approval letter.
- Escrow: it normally takes 21-30 days for due diligence or buyer to investigate the property and 60 days to close escrow when financing is involved. A commercial real estate broker won’t demand 30 days escrow like in a residential transaction because he knows it takes a long time for a commercial lender to approve the loan.
- Financing: in commercial real estate a higher percentage of transactions do not close because the buyer cannot get the loan. In a transaction th
Secrets to Online Business RevealedNow, lets understand why some people are successful with their online business and some not. The problem lies with individuals who think that just by sitting in front of their computers or laptops hoping that potential customer will come to them. No! you will definitely not get any form of targeted customer.You have got to put in some effort into your online business. Those that do will see the results in weeks. Marketing your online business effectively is one of the key factors to drive traffic to your website. This is when people see your products; chances are that some will purchase them. Simply putting your website online is not going to draw anyone to it which many people fail because they don’t see the need to market it.Here are 5 pointers in developing an effective online business:1. Firstly, you need to have a product. Select a company with products that you are comfortable with. B t that will most likely bring the most number of offers to the table. So you should consider asking the listing broker to:
- Split the commission 50/50 with the selling office.
- Make the listing available to all brokers inside AND outside of the listing company at the same time. Some companies have the policy of keeping the listings in house for the first 30 days. This allows the office to sell the property to just their own clients and keep the all the commission. Once they cannot sell the property to their own clients, they make the listing available to all other offices. This action is in conflict with your interest and may even be unethical because the property does not have maximum exposure to all the potential buyers.
By doing so, you will be likely to get the most number of offers. As a result you will be likely to get the highest price for your property.
Some brokers specialize on “no commission to the buyer’s broker” listings. Sellers only pay commission to the listing office and buyers must pay commission to their agents. This may sound fair to you as a seller and you would think your net proceed would be higher because you don’t have to pay a commission to the buyer’s broker. However, this author is not ware of any studies showing the seller gets more money with this approach. The reality is different because:
- You take away the most important incentive from the selling brokers: money. They may decide to sell other properties to their clients instead.
- Even when sellers pay commission, mentally the buyers still think they are really the ones who pay the commission which is included in the purchase price. This is the reason some buyers prefer to buy “For Sale By Owner’s” or FSBOs.
- Buyers must come up with more money to buy your property. They cannot get financing for the commission since it’s not included in the purchase price. This may discourage buyers from making offers.
- Buyer’s broker may present an offer and state that the real price is the purchase price in the contract minus his commission.
As a result, you are less likely to get the maximum numbers of offers and consequently not the highest price for your property.
Does it matter which broker should you hire?
While any licensed real estate agents can list your commercial property, you don’t get any benefits when you hire a residential specialist to do the job. Commercial and residential properties are 2 totally different products which require different marketing plans and selling process.
- The brochure: commercial properties normally have a brochure instead of a flyer as often used in residential properties. The brochure is given to potential buyers who may be out of the area, out of state or even out of the country. This brochure contains pricing, property pictures, site plan, satellite map, rent roll, income, expenses, demographic, and traffic volume information. Investors often look for information that they really care about such as Net Operating Income (NOI), cap rate, and lease term (gross or NNN). They often make offer based on the information in the brochure alone without even seeing the property personally (they inspect the property during due diligence period). Some of the information in the brochure may be confidential, e.g. rent roll, in which you may want the buyer to sign a confidentiality agreement first.
- Pricing: Most commercial properties are one of a kind and very unique in appearance, quality, location, lot size, number parking spaces, tenants list, etc. Many have no comparables like residential properties. So setting the right price is more complex and not as straight forward. Should it be priced based on net income, market value or construction cost? The property would not sell if priced too high. You lose potential profits when priced too low. So you want a commercial specialist to do this.
- Documentation: sellers are required per contract to provide various documents, e.g. survey and environment assessment report, not typical needed in a residential transaction but required by commercial lenders. Not providing all the required documents to the buyer in a timely manner may jeopardize the transaction.
- The offer process: In commercial real estate, the selling broker often presents a one-page Letter of Intent or LOI instead of a contract. This LOI states the key points: price, earnest money, due diligence period, financing terms, and closing date. Once the LOI is accepted, both parties will work on the contract. A commercial listing broker will not ask the buyer for a prequalification or pre-approval letter which is typical in residential transaction but not in commercial transaction. This is because the loan approval process for commercial property is so different such that lenders don’t issue a pre-approval letter.
- Escrow: it normally takes 21-30 days for due diligence or buyer to investigate the property and 60 days to close escrow when financing is involved. A commercial real estate broker won’t demand 30 days escrow like in a residential transaction because he knows it takes a long time for a commercial lender to approve the loan.
- Financing: in commercial real estate a higher percentage of transactions do not close because the buyer cannot get the loan. In a transaction th
CMS - How to Choose the Right Content Editor for Your Site?A site content should be editable by authorized users.
That is what it is all about when thinking about editing your site from anywhere in the world via a web browser.
A CMS (content managment system) should be easy to use and many users should be able to add / delete or edit content on the site.
This is the main purpose of CMS system (You can call it Content management, Web Editor or content editor system as well).
You would be surprised to see how much you can save just by choosing the right CMS system.
A good CMS is not the most heavy in features. It actually very similar to a mobile phone
which has many features but we mainly use saving numbers and sending SMS, all the trendy features are hardly use
So when you choose a CMS don't be tempted to choose the most fancy one.
When choosing a content management system it i different because:
- You take away the most important incentive from the selling brokers: money. They may decide to sell other properties to their clients instead.
- Even when sellers pay commission, mentally the buyers still think they are really the ones who pay the commission which is included in the purchase price. This is the reason some buyers prefer to buy “For Sale By Owner’s” or FSBOs.
- Buyers must come up with more money to buy your property. They cannot get financing for the commission since it’s not included in the purchase price. This may discourage buyers from making offers.
- Buyer’s broker may present an offer and state that the real price is the purchase price in the contract minus his commission.
As a result, you are less likely to get the maximum numbers of offers and consequently not the highest price for your property.
Does it matter which broker should you hire?
While any licensed real estate agents can list your commercial property, you don’t get any benefits when you hire a residential specialist to do the job. Commercial and residential properties are 2 totally different products which require different marketing plans and selling process.
- The brochure: commercial properties normally have a brochure instead of a flyer as often used in residential properties. The brochure is given to potential buyers who may be out of the area, out of state or even out of the country. This brochure contains pricing, property pictures, site plan, satellite map, rent roll, income, expenses, demographic, and traffic volume information. Investors often look for information that they really care about such as Net Operating Income (NOI), cap rate, and lease term (gross or NNN). They often make offer based on the information in the brochure alone without even seeing the property personally (they inspect the property during due diligence period). Some of the information in the brochure may be confidential, e.g. rent roll, in which you may want the buyer to sign a confidentiality agreement first.
- Pricing: Most commercial properties are one of a kind and very unique in appearance, quality, location, lot size, number parking spaces, tenants list, etc. Many have no comparables like residential properties. So setting the right price is more complex and not as straight forward. Should it be priced based on net income, market value or construction cost? The property would not sell if priced too high. You lose potential profits when priced too low. So you want a commercial specialist to do this.
- Documentation: sellers are required per contract to provide various documents, e.g. survey and environment assessment report, not typical needed in a residential transaction but required by commercial lenders. Not providing all the required documents to the buyer in a timely manner may jeopardize the transaction.
- The offer process: In commercial real estate, the selling broker often presents a one-page Letter of Intent or LOI instead of a contract. This LOI states the key points: price, earnest money, due diligence period, financing terms, and closing date. Once the LOI is accepted, both parties will work on the contract. A commercial listing broker will not ask the buyer for a prequalification or pre-approval letter which is typical in residential transaction but not in commercial transaction. This is because the loan approval process for commercial property is so different such that lenders don’t issue a pre-approval letter.
- Escrow: it normally takes 21-30 days for due diligence or buyer to investigate the property and 60 days to close escrow when financing is involved. A commercial real estate broker won’t demand 30 days escrow like in a residential transaction because he knows it takes a long time for a commercial lender to approve the loan.
- Financing: in commercial real estate a higher percentage of transactions do not close because the buyer cannot get the loan. In a transaction th
What Is ASP Hosting And What Can It Do For You?Understanding what ASP hosting is and how it works will allow you to know better which is the right choice for your specific needs. First, let us define just want an ASP is. In the most basic sense, ASPs are a way of selling and distributing software on the web. The term ASP stands for application service provider. But, there is much more to know about what these actually do.Some excellent examples of companies that can be considered ASP in the way they are set up include Amazon, Ebay and Epinions. It is the way in which these services are set up that they are considered to be ASP services. While they do not have to provide software solutions, many of them due and that is what the term has come to mean.Some features that are common in these include the following. The ASP will own and operate the software solution. This keeps prices low for all those that use the service. They also own, op operties. The brochure is given to potential buyers who may be out of the area, out of state or even out of the country. This brochure contains pricing, property pictures, site plan, satellite map, rent roll, income, expenses, demographic, and traffic volume information. Investors often look for information that they really care about such as Net Operating Income (NOI), cap rate, and lease term (gross or NNN). They often make offer based on the information in the brochure alone without even seeing the property personally (they inspect the property during due diligence period). Some of the information in the brochure may be confidential, e.g. rent roll, in which you may want the buyer to sign a confidentiality agreement first.
- Pricing: Most commercial properties are one of a kind and very unique in appearance, quality, location, lot size, number parking spaces, tenants list, etc. Many have no comparables like residential properties. So setting the right price is more complex and not as straight forward. Should it be priced based on net income, market value or construction cost? The property would not sell if priced too high. You lose potential profits when priced too low. So you want a commercial specialist to do this.
- Documentation: sellers are required per contract to provide various documents, e.g. survey and environment assessment report, not typical needed in a residential transaction but required by commercial lenders. Not providing all the required documents to the buyer in a timely manner may jeopardize the transaction.
- The offer process: In commercial real estate, the selling broker often presents a one-page Letter of Intent or LOI instead of a contract. This LOI states the key points: price, earnest money, due diligence period, financing terms, and closing date. Once the LOI is accepted, both parties will work on the contract. A commercial listing broker will not ask the buyer for a prequalification or pre-approval letter which is typical in residential transaction but not in commercial transaction. This is because the loan approval process for commercial property is so different such that lenders don’t issue a pre-approval letter.
- Escrow: it normally takes 21-30 days for due diligence or buyer to investigate the property and 60 days to close escrow when financing is involved. A commercial real estate broker won’t demand 30 days escrow like in a residential transaction because he knows it takes a long time for a commercial lender to approve the loan.
- Financing: in commercial real estate a higher percentage of transactions do not close because the buyer cannot get the loan. In a transaction th
Blog Your Way To a Successful Private PracticeWhat is a Blog?Blogs are a type of website often defined as an on line journal or diary. Although there are many blogs where the blog author keeps a log of their own thoughts, experiences and ideas, bloggers also frequently share and discuss information from other sources.Blogs typically focus on a certain topic and have frequent (sometimes daily) posts
(or entries). Posts often link to other blogs or websites that discuss a similar topic.
Many blogs are set up so that readers can add comments below each post.Blogs have been around for about 8 years or so. Business blogs have become
increasingly popular in the last couple of years, and especially in the last year.Why Use Blogging To Market Your PracticeCounselors, therapists and other healing professionals often shy away from using
technology when marketing their practices. While there are many effective environment assessment report, not typical needed in a residential transaction but required by commercial lenders. Not providing all the required documents to the buyer in a timely manner may jeopardize the transaction.
- The offer process: In commercial real estate, the selling broker often presents a one-page Letter of Intent or LOI instead of a contract. This LOI states the key points: price, earnest money, due diligence period, financing terms, and closing date. Once the LOI is accepted, both parties will work on the contract. A commercial listing broker will not ask the buyer for a prequalification or pre-approval letter which is typical in residential transaction but not in commercial transaction. This is because the loan approval process for commercial property is so different such that lenders don’t issue a pre-approval letter.
- Escrow: it normally takes 21-30 days for due diligence or buyer to investigate the property and 60 days to close escrow when financing is involved. A commercial real estate broker won’t demand 30 days escrow like in a residential transaction because he knows it takes a long time for a commercial lender to approve the loan.
- Financing: in commercial real estate a higher percentage of transactions do not close because the buyer cannot get the loan. In a transaction that involves SFRs, if the buyer has 30% down payment then it’s almost certain that the loan will be approved. However 50% down payment is not even sufficient for many properties in California with cap rate of 5% or lower. Please refer to the article “What Investors Should Know about Commercial Loan” written by the same author. So a listing broker with experience about commercial financing will be able to advise the seller not to accept an offer with a remote chance of getting the loan approved
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