Commercial: General Overview

Commercial: General Overview

Here are a few general commercial basics:

LoopNet: many commercial listings are not posted on the M LS. They utilized Loopnet. You will want to research and decide if you need a subscription to LoopNet.com.  I believe you can search for free, but advertising a property is subscription based.

Commissions: Although the MLS requires an offer of compensation, many commercial properties are not listed on the M LS. The buyer is expected to pay their agent and the seller is expected to pay their agent. Of course, commissions are negotiable.

Attorney:  Commercial contracts are often drafted by attorneys. A contract may be preceded by a letter of intent. Florida Realtors does offer some commercial contracts and leases. We strongly recommend clients have their paperwork reviewed by an attorney.

Appraisals:  appraisals for commercial property typically go out to bid. They are definitely more costly than residential and more extensive. They review leases and income and look at the square footage differently. The cost will be in the thousands of dollars.

Environmental:  commercial property also involves environmental studies. There are different types and different phases. Additional research and education is recommended.

Education: Please take the time to educate yourself. Take classes, do your research, seek coaching. 

Dalton Wade is not a commercial house. However, we do have a few agents that specialize in commercial properties and come to us with a strong commercial background.

 

For more complicated commercial deals, you may want to refer the deal out. Here is a commercial agent suggestion:

 

Jessica Dwyer tampabaysalespro@gmail.com

Direct:  (727) 412-4432

Commercial Property Specialist

Florida REALTOR® 

Dalton Wade Real Estate Group



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