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Other Added - Things You Should Consider Before Listing Your Commercial Property
It's a Graphic Web and Why You Need Professionally Designed Web Graphics
Someone wise once said that ‘you can’t judge a book by its cover’, but I’m guessing this was before the world wide web changed the way everyone absorbed information.The fact of the matter is, these days, even in a hard cover bookshop, books with boring covers will never even get picked up. The competition is so fierce, the colours and design of book covers so clever, that unless a cover stands out from the crowd, a book doesn’t stand a chance of being purchased.Now, you can multiply this scenario by hundreds of thousands of times if you are talking about web pages. The same principle applies. Unless a web page is attractive enough, it won’t get a second glance. Web surfers will be in and clicked out in the blink of an eye. Design and colours all contribute to how a web page presents itself to its visitors. There once was a time where web pages were thought to require every bell and whistle availab
en be unethical because the property does not have maximum exposure to all the potential buyers.
Someone wise once said that ‘you can’t judge a book by its cover’, but I’m guessing this was before the world wide web changed the way everyone absorbed information.The fact of the matter is, these days, even in a hard cover bookshop, books with boring covers will never even get picked up. The competition is so fierce, the colours and design of book covers so clever, that unless a cover stands out from the crowd, a book doesn’t stand a chance of being purchased.Now, you can multiply this scenario by hundreds of thousands of times if you are talking about web pages. The same principle applies. Unless a web page is attractive enough, it won’t get a second glance. Web surfers will be in and clicked out in the blink of an eye. Design and colours all contribute to how a web page presents itself to its visitors. There once was a time where web pages were thought to require every bell and whistle availab
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 pro
Investing - The Secrets To Choosing An Advisor Part III
Does your advisor make more off your account than you do? We’ve been discussing how to protect yourself when choosing a financial advisor. One of the secrets to choosing an advisor that’s right for you is to understand how they are compensated.Financial advisors are generally compensated in two ways: commission or fee-based. Commission-based advisors are essentially ‘prepaid’ because you’re paying for service and advice several years up front. The main disadvantage with a commission-based advisor is that they have little incentive to actively watch over your money.Back in 1988 when I was a typical broker, I quickly learned that I had to spend most of my time selling, not servicing my existing clients. I was trained by the main office to spend 90% of my time prospecting new clients. That doesn’t leave much time for the current clients, does it?This is why these brokers hold so dearly to the
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.
Does your advisor make more off your account than you do? We’ve been discussing how to protect yourself when choosing a financial advisor. One of the secrets to choosing an advisor that’s right for you is to understand how they are compensated.Financial advisors are generally compensated in two ways: commission or fee-based. Commission-based advisors are essentially ‘prepaid’ because you’re paying for service and advice several years up front. The main disadvantage with a commission-based advisor is that they have little incentive to actively watch over your money.Back in 1988 when I was a typical broker, I quickly learned that I had to spend most of my time selling, not servicing my existing clients. I was trained by the main office to spend 90% of my time prospecting new clients. That doesn’t leave much time for the current clients, does it?This is why these brokers hold so dearly to the
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 proc
How Banks Use ATMs
Automated teller machines (ATMs) are used by banks to expand the services they offer to clients. Through this technological innovation, banks are able to strengthen their strategies of customer relationship management.According to an industry leader in electronic banking solutions, banks were once hesitant to use automated teller machines. However, due to the increasing demands of clients, the added value these machines can give the company was later recognized. Today, senior banks demand accessible ATM locations to better fulfill the needs of their clients.Through automated teller machines, banks are able to offer their clients remote services such as bill transfer, cash withdrawal, bill payments, and balance and billing inquiries on a daily basis. The more advanced automated teller machines are even capable of showing video-recorded assistance instructions to help make the transactions of ban
a vacant building in a declining area, you should pay a higher commission.
Automated teller machines (ATMs) are used by banks to expand the services they offer to clients. Through this technological innovation, banks are able to strengthen their strategies of customer relationship management.According to an industry leader in electronic banking solutions, banks were once hesitant to use automated teller machines. However, due to the increasing demands of clients, the added value these machines can give the company was later recognized. Today, senior banks demand accessible ATM locations to better fulfill the needs of their clients.Through automated teller machines, banks are able to offer their clients remote services such as bill transfer, cash withdrawal, bill payments, and balance and billing inquiries on a daily basis. The more advanced automated teller machines are even capable of showing video-recorded assistance instructions to help make the transactions of ban
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 pro
Why Insight and Flexibility is More Important than Perseverance in Marketing
Marketing successfully requires not only insight into how a product or service can be successfully marketed but also flexibility into the marketing of a product or service.This is one of the marketing principles that doesn't seem to be taught successfully. Too many times, the "marketing gurus" will promote a type of marketing that has worked for them to the exclusion of all other types of marketing.Now the type of marketing they promote may very well have worked well for them, but it is folly to believe that one marketing method and one marketing method only will work for every product or service everywhere. This just is not the reality as marketing methods can be as unique as the products and services that are marketed.Innovation, creativity and flexibility are needed in any type of marketing efforts. Trying several types of marketing is usually the best method of eliminating marketing met
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:Marketing successfully requires not only insight into how a product or service can be successfully marketed but also flexibility into the marketing of a product or service.This is one of the marketing principles that doesn't seem to be taught successfully. Too many times, the "marketing gurus" will promote a type of marketing that has worked for them to the exclusion of all other types of marketing.Now the type of marketing they promote may very well have worked well for them, but it is folly to believe that one marketing method and one marketing method only will work for every product or service everywhere. This just is not the reality as marketing methods can be as unique as the products and services that are marketed.Innovation, creativity and flexibility are needed in any type of marketing efforts. Trying several types of marketing is usually the best method of eliminating marketing met
- 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 pro
Interest Rate Buydowns - What Is Old Is New Again
Whenever you hear about buydown loans again, it’s a sure sign interest rates have risen and the real estate market has slowed down.A buydown occurs when the interest rate is “bought down”, that is, with cash to pay for a lower interest rate known as a permanent buydown or “borrowed” into the future with a higher base interest rate as in a temporary buydown. The lower interest rate, the lower the monthly payment and loan qualifying is easier. Conversely, the lower the interest rate the more it costs.The permanent buydown buys the rate down for the life of the loan. Typically it costs one point or one percent of the loan amount to buy it down a quarter of a percent in rate. If the current rate is 6.50% for example, you can buy it down to 6.25% for about one point.A temporary buydown is for a short, set period of time. A 2-1 buydown is most common where the initial interest rate is two pe
ommission 50/50 with the selling office.
Whenever you hear about buydown loans again, it’s a sure sign interest rates have risen and the real estate market has slowed down.A buydown occurs when the interest rate is “bought down”, that is, with cash to pay for a lower interest rate known as a permanent buydown or “borrowed” into the future with a higher base interest rate as in a temporary buydown. The lower interest rate, the lower the monthly payment and loan qualifying is easier. Conversely, the lower the interest rate the more it costs.The permanent buydown buys the rate down for the life of the loan. Typically it costs one point or one percent of the loan amount to buy it down a quarter of a percent in rate. If the current rate is 6.50% for example, you can buy it down to 6.25% for about one point.A temporary buydown is for a short, set period of time. A 2-1 buydown is most common where the initial interest rate is two pe
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 pro
A Quick Glimpse at Real Estate Investment
Also referred to as real property, real estate basically implies a piece of land including anything affixed to it like buildings, fences etc. For a long time now real estate has been topping the favourites chart as a great investment opportunity that has a potential of yielding big profits.Now before you get all excited to take the plunge into the real estate market; lets first understand the brass tracts of the game called real estate investment.There are two principal means by which you can earn by investing in a real estate business namely resale and rental.Resale Investment:This kind of investment works in quite the same way as an investment in stocks does. You purchase a property and then put it up for sale at a price higher than the one that you paid for purchasing it. Therefore, you pocket the money that is the difference between the two costs. Usually,en 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:
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.
Also referred to as real property, real estate basically implies a piece of land including anything affixed to it like buildings, fences etc. For a long time now real estate has been topping the favourites chart as a great investment opportunity that has a potential of yielding big profits.Now before you get all excited to take the plunge into the real estate market; lets first understand the brass tracts of the game called real estate investment.There are two principal means by which you can earn by investing in a real estate business namely resale and rental.Resale Investment:This kind of investment works in quite the same way as an investment in stocks does. You purchase a property and then put it up for sale at a price higher than the one that you paid for purchasing it. Therefore, you pocket the money that is the difference between the two costs. Usually,
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 in
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