Dealing with commercial real estate can be tricky. And if you’re looking to sell a piece of property, you might be daunted by the process and the expense involved. As a result, you may be considering whether you need to work with a commercial real estate agent or whether you can sell the property on your own. It’s not an easy question to answer, which is why it’s probably best that you take the following into account before you make your decision.
The benefits of selling commercial property on your own
There are a lot of benefits to selling property on your own. Here are some of the biggest advantages of taking this route:
- You dictate the asking price: By foregoing a real estate agent, you can identify the listing price of your commercial real estate. You won’t feel pressured by your agent to drop the price, which means that you’ll be in complete control over what your property will ultimately sell for.
- You save on fees: Broker fees associated with selling a piece of commercial real estate can be enormous. By foregoing one of these agents and just selling the property yourself, you could save tens of thousands of dollars, depending on what the property actually sells for.
- You control the timing: By selling your property on your own, you retain control over every aspect of the process, including when to show the property, how to negotiate, and when to say “yes.” This can give you peace of mind and help alleviate some of your stress.
So, as you can see, there are some major benefits to selling your commercial real estate on your own. However, even if you choose to pursue this route, you’ll probably want to work closely with a legal professional who can help you negotiate your sale price and ensure that your interests are protected throughout the process.
What are the benefits of using an agent?
There are also benefits to using a real estate agent to help you sell your commercial real estate. Here are some of them:
- Market research: A real estate agent is going to have the time and resources needed to conduct market research so that the price point of your property is in line with market expectations. This research can also ensure that you target the right buyers who are more likely to close the deal near your asking price.
- Stress relief: If you don’t have the time and energy to focus on selling your commercial real estate, an agent might be right for you. Their assistance means that you don’t have to worry about the logistics of listing, negotiating, and selling your property.
- Experience: A lot of unexpected things can come up when you’re trying to sell a piece of commercial real estate. As overwhelming as those circumstances can be, a real estate agent may bring much needed experience to the table to help you navigate the challenges that you’re facing.
Even if you choose to work with a real estate agent, though, you may still want to ensure that you have an experienced business law attorney by your side. By doing so, you can better protect your interests and ensure that any decisions that you make further your business goals, even if that means effectively getting out of business.
We know that navigating the commercial real estate market can be stressful. But you can let a law firm like ours sweat the details. If you’d like to learn more about what our firm has to offer its clients, please continue to read our website.