As we approach the third quarter of 2014, commercial real estate remains a seller’s market. There simply are a lot more buyers than there are sellers. Therefore, the seller is benefiting from the increased demand & competition for their property. There are many reasons why it is a seller’s market:
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Do you know how much your commercial property is really worth? There are two methods of assessing a property’s value, an appraisal or a broker’s price opinion (BPO). Each one has its own purpose. There is no need to spend more money than necessary on the valuation of your property. In this article, I will talk about when properties need to be assessed by a certified appraiser and when it is ok to get a broker price opinion.
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Your lease is expiring soon and you have six months to renew or relocate. The most common mistake tenants make is to assume that the building’s management is going to give them the best deal. They think that by going direct, they are exhibiting good will and it will make a smoother renewal process.
Ask yourself one question: Who does the property management work for?
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