business owners realistic price Smart strategies commercial real estate
Tips on buying and selling real estate
Automatically Generated Transcript (may not be 100% accurate)
00:00 Real estate commercial. Real estate tab and right now and
00:04 of course thank you for being here and let's start with
00:06 kind of some of those Smart strategies that and tips for
00:09 business owners -- It will actually do we recommend that our
00:13 clients start early. One of the mistakes that a lot of
00:15 people wait. Too late to get involved in a commercial real
00:19 estate deal that they can be. Somewhat time consuming whether it's
00:23 the negotiations stage. For the documentation stage or in those cases
00:27 were construction is though is needed or renovation of a space.
00:32 So don't wanna wait until the last minute. And NB a
00:35 position where you you lose your leverage to -- to get
00:38 a good deal so we recommend that that particular people thus
00:41 start early in the same thing goes to offer sellers. Understand
00:45 when you need to sell and how long you have the
00:47 self. So that's you know if you if you're -- to
00:51 sell within thirty days for instance it's going to affect the
00:53 price. More than if you can wait for the market to
00:57 look. To believe fully explore your property. The other thing for
01:01 sellers is to make sure that you. Understand what values are
01:06 really good prices pricing is key making sure that the realistic
01:09 price. You can involve you know you can either. -- --
01:13 -- do some research and market yourself or get involved with
01:15 the commercial -- for which I would recommend but but really
01:19 understanding where your property should self. You mentioned earlier you know
01:23 construction not -- the -- some construction continues to rise. At
01:27 over the years so how does that. I'm affect potential buyers
01:31 and developers. Well that construction obviously as it is a component
01:35 of both of commercial real estate valuation. Probably the the biggest
01:39 thing that's that's affecting the values right now in this marketplaces
01:43 is. The uptick in activity. Which is in stark contrast to.
01:48 What we've had over the last few years or prior to
01:51 the last couple years. Now what what's happened with more activity
01:56 there's more people looking at property. Others more pressure on pricing
02:00 so pricing is firming up. The values there are going up.
02:05 And one of the downsides of that for a lot of
02:07 people is that as more important warm more people in --
02:11 of them the market. And either buy -- -- property there's
02:14 less inventory -- over the last few years there's not been
02:17 any replacement inventory built. And so you know one of the
02:21 things that we would caution people about us. If you're a
02:23 buyer or make -- lassie is understand that prices are firming.
02:28 You know it's good for sellers little bit tougher for buyers.
02:31 Right interesting take on that real estate market here thanks for
02:34 joining us this morning with those tips for apple buyers and
02:37 sellers he of course. Starting early you guys look mentioning here
02:40 again Jim.