What Not to Do When Buying Commercial Real Estate

Selling commercial real estate is an art all to itself. A painter that is working on an art piece majestically brings the paper to life. He does so by knowing what he needs to do in order to finish the project. There are also things that the painter will need to avoid so it does not ruin his work. Like the painter, a commercial real estate representative will need to know which pitfalls to avoid so the sale of the property will be a success.

Commercial Real Estate Do Not’s

  • Avoid the pitfall of not getting a signature for any contract that that is presented. When a seller and a buyer come to an agreement, the agreement must be put in writing. Each party will need to sign the contract so the conditions of the sale cannot change. The signed contract also helps to avoid confusion on what was agreed on during the initial discussion.
  • Try to avoid siding with one party when it comes down to the earnest money. The seller wants to see as much earnest money as possible and the buyer will not want to give so much to the seller. Encourage each party to meet in the middle. The seller needs to realize that the buyer has limited funds with which to buy and set up their company. The buyer needs to realize that his earnest money needs to represent how serious he is about buying the property.
  • Avoid the pitfall of not talking about zoning. The point of selling real estate is to show a buyer how the property can be used. In order to represent the seller correctly, zoning laws must be presented clearly so they know what kind of business is allowed to be on the land. Knowledge of the zoning laws of the city and county is a must.
  • Avoid making the mistake of forgetting an appointment. Forgetting about appointments is a great way to push business away. A potential sale or obtaining a new listing could be lost by such an action. A person’s time is very valuable to them. A business person schedules their day right down to the minute. Failure to respect their time can mean the loss of the client.

To make a difference and to learn more about commercial real estate, consider taking a commercial real estate seminar. Each seminar can help agents learn more about customer service, sales, building client relationships and many other important facets of the real estate market. Commercial real estate agents will find that they are more effective as a result of attending these seminars.