Many brokers boast about the number of deals they have completed. Our firm believes it’s not the number of deals completed but the value we ADDED to each deal completed.
We guarantee that each deal is given the attention it deserves, and explore the various ways we could add value to the property before we market and sell it. We have added tremendous value for our clients before we commenced with the sales process.
Here are just a few examples:
- In 2016, we sold (2) 16-unit apartment buildings, but spent the previous 18 months working with our client coordinating the remodel of the units and re-leasing them at market rent. This patient approach was a major factor in creating a 40% higher sales price, while maintaining cash flow and minimizing disruption to the tenants.
- In 2015, we sold a retail strip center for our client, but prior to the marketing and sale of the property, we spent 6 months marketing and leasing the remaining vacancies to maximize the sales price. We believe we achieved a 15% increase in the value of the property.
- Developing a comprehensive project proposal for our client, who owns 32 apartment units. Our analysis shows the site is under-utilized, and could be re-developed into 60 (or more) for-sale residential units. If we are successful with the entitlement process, this will add tremendous value to the property.
After completing the process of adding value to your property, we take the following steps to market and sell your property:
Conduct a financial analysis of the property, and a market analysis to determine general market trends. Our goal is to create an opinion of value that positions the property appropriately.
Create a marketing package that will highlight the attractive features of the property, summarize the financial information, and provide general information such as site plan and synopsis of the surrounding area.
Marketing of the property could include some or all of the following depending on the strategy: (a) research recent sellers who might be looking for a 1031 exchange property. We uncover these leads utilizing our database or through relationships with title companies (b) direct marketing to our personal network and direct mailers/emails to area brokerage companies. (c) utilize internet listing services such as loopnet and costar to advertise the property. (d) installation of “for sale” signage at the property.
Keep client apprised of general sales interest and any significant changes which could affect the current sales strategy.
Negotiate terms and assist client/legal counsel with drafting of Purchase & Sales Agreement.
Assist client with the execution of the terms of the contract, including the coordination of Buyer’s due diligence, such as access to property, ensuring delivery of any and all pertinent documentation related to the property and execution of tenant estoppels.
For more information about our investment sales and development services, please contact us.