Commercial Deal Breakers And How To Avoid Them
Make sure your Purchase Contract states that the Seller will provide you with all Vendor Contracts. Make sure you also have a solid “Pro-Rations” Clause as well. A Pro-Rations Clause will ensure that the Seller only gets that fraction of the signing bonus equal to their fraction of their time in ownership.
That is what retail is all about. Juggling customer relations, employee issues, multiple tasks and thoughts (some of them great…but always forgotten) at the same time. Wow, aren’t retailers great! You bet they are, but it’s all this multi-tasking that hinders our potential greatness. Because of this we sometimes loose our focus and enthusiasm. That’s when, during good times or bad, we lose profit. So, in this first part of the article, let’s get refocused together and take an introspective look at our possible “low hanging fruit” or profit making potential.
Nothing could be more disruptive to your move into your new commercial property than to see it disrupted by a major road renovation or highway expansion in front of the building. So do some homework to make sure that access to your commercial property is in no danger of being slowed or stopped by building projects or other city improvements. Further, find out what is going on with the building. If the roof is in for repair or the plumbing is going to get overhauled, do you really want your new lease to lock you into that nuisance. So while talking to the landlord, also talk to some people behind the scenes who are “in the know” about your new commercial property location.
Time-shares are for hard-boiled people with great smiles. Most States allow several days for people who purchase Time Shares to change their minds, and many do. Beyond that kind of frustration, there are hassles with being paid. Like the rental biz, pay hassles, expenses deductions and commission disputes are common. Let’s face it. If you want to make the really big money in Real Estate, you are going to have to sell traditional properties.
Check out the properties that were purchased about 4 or more years ago. History shows that they will be in the next group of properties to come on the market for sale.
Listing a property can be a complex thing. Importantly it should be accurate and professional. Understand the market and the property type to make every listing a positive experience.
Create a brand for your real estate office and put your personality into the page. Remember that your personal brand and your office brand has be the same each time you send out a newsletter. Continuity is critical when it comes to building your brand.