How do I sell my commercial real estate in California?

Is it hard to sell commercial real estate?

The sale of commercial real estate is not as simple as getting rid of a residential property or a bunch of shares. It takes time and consideration to offload such a big asset.

What costs are involved in selling a commercial property?

Your estate agent will charge you a fee which is usually a percentage of the total value of the sale. A survey conducted by Which, found that the average in 2018 was 1.42% of the final selling price including VAT of 20%. It can however be as low as 1% and as high as 3.5% depending on a number of different factors.

What is the standard commission for commercial real estate?

While a seller might pay 6% to 10% commission on a $250,000 property, they’re unlikely to pay that much on a $25 million property. The commission rate usually goes down in increments as the sale price goes up. A commission rate of 6% to 8% is pretty common to see in deals under $1 million.

What do I need to do to sell a commercial property?

10 Steps to Selling a Commercial Property

  1. Heads of Terms agreed between parties/agents. …
  2. Solicitors instructed. …
  3. Title documents obtained. …
  4. Contract drafted and title information prepared. …
  5. Buyer’s due diligence. …
  6. Documents agreed. …
  7. Redemption figure obtained. …
  8. Contracts exchanged.
THIS IS INTERESTING:  Your question: Can a real estate agent represent himself in Florida?

How long does it take to sell a commercial property?

How long does it take to sell a commercial property? It can take anything from a couple of weeks to a year or longer depending on market elements, such as local demand and the price of the property.

Can a real estate agent sell commercial property?

Can a residential real estate agent sell commercial properties? Yes—a licensed real estate agent can sell any type of property they’d like, including commercial and residential. … Many commercial agents earn their success through years of working in their field.

What does a commercial estate agent do?

A commercial real estate agent is an industry professional whose job is to assist in the lease, management or sales of property, and to advise our clients of their best courses of action when deciding how to invest in or improve real property or a commercial asset.

How much do commercial real estate agents make in California?

How much does a Commercial Real Estate Agent make in California? The average Commercial Real Estate Agent salary in California is $113,858 as of October 29, 2021, but the range typically falls between $95,112 and $127,054.

Who makes more money commercial or residential real estate?

Earnings: Commercial property tends to present a higher earning potential than residential real estate. Although it is easier to get a residential property off the market, commercial agents can make a higher commission from the properties they sell.