Thinking of selling your commercial property?

Discussion in 'Commercial Property' started by Steven Kruyer, 15th Sep, 2016.

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  1. Steven Kruyer

    Steven Kruyer New Member

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    What are the most important things that you require during this process, once you have found a suitable agent?
     
    Steven Kruyer, 15th Sep, 2016
    #1
  2. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    Open and honest communication and that they work there butt off to sell it :)
     
    Colin Rice, 15th Sep, 2016
    #2
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  3. Jamie_

    Jamie_ Well-Known Member

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    I have a feeling he might know someone to recommend :p
     
    Jamie_, 15th Sep, 2016
    #3
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  4. DaveM

    DaveM Well-Known Member

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    Agent sells the property
    I get my money
    The end
     
    DaveM, 15th Sep, 2016
    #4
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  5. hobo

    hobo Well-Known Member

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    The bigger questions come up DURING the "suitable agent" selection process, surely...?
     
    hobo, 15th Sep, 2016
    #5
  6. wombat777

    wombat777 Well-Known Member

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    How about correctly assessing the value of a property.

    I've witnessed agents having no clue on changes and market trends in the areas they work.
     
    wombat777, 15th Sep, 2016
    #6
  7. Scott No Mates

    Scott No Mates Well-Known Member

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    In some cases owners simply don't want to hear what the agent has to say no matter how well researched the argument.
     
    Scott No Mates, 15th Sep, 2016
    #7
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  8. balwoges

    balwoges Well-Known Member

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    I sold my own commercial property for a lot more than the supposed experienced commercial agents valuation and the valuation by licenced valuers ... you will need copies of lease/leases, Profit and Loss Statements for the last 3 years etc.
    I did a search on properties sold in nearby streets over the past 10 years and found sales few and far between and realised it would probably sell quickly. Was sold within 3 weeks with buyers waiting to see if the sale fell through.
    Saved myself a lot of money :D
     
    balwoges, 16th Sep, 2016
    #8
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  9. Luke T

    Luke T Well-Known Member

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    Why would you sell a commercial property ?!!!lol
     
    Luke T, 16th Sep, 2016
    #9
  10. Scott No Mates

    Scott No Mates Well-Known Member

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    @Luke T - Functional obsolescence, death, divorce, debt or cut & run.
     
    Scott No Mates, 16th Sep, 2016
    #10
  11. balwoges

    balwoges Well-Known Member

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    In my case 2nd and final retirement and fed up dealing with 12 tenants :D
     
    balwoges, 16th Sep, 2016
    #11
  12. Luke T

    Luke T Well-Known Member

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    Yr right -mine was the big D
     
    Luke T, 16th Sep, 2016
    #12
  13. Ace in the Hole

    Ace in the Hole Well-Known Member

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    That pretty much covers it...
    And it shouldn't matter if you're the buyer or seller.
     
    Ace in the Hole, 16th Sep, 2016
    #13
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  14. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    Yep goes both ways thats for sure.

    Whenever I have a client that responds to emails / texts / phone calls in a timely manner and provide the documents I need it almost always goes smoothly. Works the other way otherwise.

    The question that is always asked is "How long will all this take?" and my response while looking into your soul is "Thats up to you"! :cool:
     
    Colin Rice, 16th Sep, 2016
    #14
  15. Beano

    Beano Well-Known Member

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    Still have any properties left or sold the lot?
    Ps what type of commercial property did you have that caused you to be fed up?
    I have 118 tenants and the ones that cause the most hassle are
    Tire processors
    Scrap merchants
    Panelbeaters
    Car restorers
    Storage units
    Offices

    The least
    Hotel
    Printers
    Retailers and shops
    Warehouses
    Engineers
    Manufacturers
     
    Beano, 17th Sep, 2016
    #15
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  16. balwoges

    balwoges Well-Known Member

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    I am ancient :rolleyes: and have now invested in securities that can be easily sold and dont argue :D
     
    balwoges, 18th Sep, 2016
    #16
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  17. Beano

    Beano Well-Known Member

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    Best to live off the golden eggs and never sell the goose that lays them
     
    Beano, 18th Sep, 2016
    #17
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  18. Shady

    Shady Well-Known Member

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    Shady, 21st Sep, 2016
    #18
  19. Omnidragon

    Omnidragon Well-Known Member

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    Working out if GST is payable.
     
    Omnidragon, 1st Oct, 2016
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  20. MrFox

    MrFox Well-Known Member

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    Since commercial is valued according to the rental return, I would want creative agent that would advise me how to maximise the rent to get the best price.
     
    MrFox, 1st Oct, 2016
    #20