Q:  I will be selling an industrial building on Long Island when my tenant's lease expires.  Do you have some suggestions on maximizing the sale price that I can obtain? 

A:  Yes, there are absolutely some steps that you can take to increase your odds of achieving the high end of market value when selling your building.  Here are five of the most crucial steps that I would recommend:

     First, hire an expert.  Marketing real estate today is a sophisticated business, and a very high percentage of available real estate is available only through professionals, either institutional owners or commercial real estate brokers.  As an individual, you are placing yourself at a competitive disadvantage by trying to sell the property yourself.  A secondary advantage of hiring an exclusive broker is that an agent serves as a buffer between you and the eventual buyer, usually leveraging the price upwards in the negotiation process. 

    Second, research the marketplace.  Know your competition.  Have a sense of comparable sales - buildings similar to yours that have recently been sold.  You and your agent should really have a sense of what other buildings will be considered by your prospective purchasers.  What are the ... Click here for full article