Benefits of Seller Representation UNDERSTANDING AGENT VALUE IN THE SELLING PROCESS
Benefits of Seller Representation TABLE OF CONTENTS
1. Your Trusted Real Estate Advisor 2. Initial Consultation 3. Benefits of Exclusive Representation 4. Marketing Your Property 5. Navigating to a Successful Sale 6. Documentation and Closing
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1. Your Trusted Real Estate Advisor Selling a commercial property can be challenging. A trusted real estate advisor can act as your expert guide to negotiate on your behalf and navigate the multitude of disclosures, reports and contracts, helping you avoid costly mistakes.
Leverage the Sotheby’s International Realty Brand Sotheby’s International Realty is the globally recognized brand that lends credibility to your offers and elevates your representation. Our success is defined by our deep commitment to our clients. This trust has been built over a legacy of 280 years and counting, with the legendary Sotheby’s auction house representing its clients’ most prized possessions.
Navigating the Sale of your Property Having an experienced professional in your corner offers a competitive advantage when selling your commercial property. An agent’s broad perspective, experience and market knowledge can provide a stabilizing force through what can be a challenging process. Our expertise will enable you to achieve your selling goals.
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2. Initial Consultation An initial meeting is important to understand your selling needs and to develop a strategy to make a successful sale.
Understanding Your Real Estate Goals • • • •
Selling timing Return objectives Past experiences with selling Risk tolerance
The Initial Meeting • • •
The account team interviews you to understand your goals and expectations for the sale. We submit a proposal for your consideration, including deliverables, expectations and deadlines. Together, we determine the desired communication and update process with you.
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3. Benefits of Exclusive Representation Our agents form partnerships with our clients, providing ongoing services that go far beyond the deal. As your exclusive agent, we are accountable from start to finish to ensure that you gain the greatest outcome in every transaction. Each sale of a commercial property is a unique journey. Common steps along the way include research, marketing, vetting prospective purchasers to understand the strength of their financial position for the deal, due-diligence procedures for both parties, working closely with title and managing various processes and reviews that lead to a successful transaction closing.
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4. Marketing your Property Determine the Sales Price
We will give you an overview of current market conditions and projections based on our extensive market research and expertise. With this information, we will offer a professional pricing strategy based on our analysis of current market conditions. We will also present strategies for marketing your property effectively by harnessing the market power and benefits of the multiple commercial databases we use; our exclusive database of brokers and developers in North Texas; and the unique network and opportunities available through Sotheby’s International Realty and Briggs Freeman Sotheby’s International Realty. We will also explain and communicate all that we do behind the scenes to get your property sold. We are committed to being available and responsive to you promptly throughout the process. We will develop a marketing plan for your property, using both digital and print marketing. • Execute listing agreement • Create marketing flyer on our Lease/Disposition template and get approval from you. • Post a sign at your property once approved by you. • Post digital marketing flyer with property listing on the three commercial databases CoStar, LoopNet and Crexi. • Distribute print and digital flyers to our extensive broker list. Repeat as needed. • Distribute print and digital flyers to our user/investor list. Repeat as needed.
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• Show the property, on request, informing you of every tour by text or e-mail. (A licensed real estate advisor will be present at every tour.) • Update inquiry list as inquiries are received. • Update you based upon agreed-upon communications Specific to a commercial transaction, we work with you to prepare your property for marketing, including: • Securing broker list, including all brokers who have leased or listed this type of property in the past 24 months • Securing user/investor list, including all who have leased/purchased similar properties in the past 24 months • Confirming property and building information and specifications • Obtaining sale and lease comparables from market sources • Ordering a preliminary title search through title company • Obtaining written listing agreement from you for the disposition
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5. Navigating to a Successful Sale
The Steps We Will Undertake to Sell Your Property Will Include: • Obtain offers for the property. • Distribute each offer to you within one business day of its receipt. • Review and provide red-lined comments on all submitted letters of intent (LOIs) and purchase and sale agreement drafts and distribute to you. • Coordinate and submit consolidated purchase and sale agreement comments or comments to potential buyer. • Coordinate conference calls and/or meetings to discuss and negotiate open issues. • Provide you with concise updates and/or recommendations on unresolved issues. • Prepare recommended counterproposal(s). • Finalize LOI. • Negotiate final purchase and sale or agreement. • Track critical date timelines in contract and confirm all have been met.
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6. Documentation and Closing Your commercial team will provide you with a closing summary for the transaction, including:
Transaction Documentation • • • •
Execute final purchase and sale agreement. Coordinate documents and critical dates with the title company. Monitor return of fully executed documents. Address and resolve any issues which could negatively impact the closing.
Transaction Closing • • • •
Monitor and support buyer’s due-diligence activities through to closing. Perform a pre-closing walkthrough before sale transaction closing. Monitoring buyer’s closing funds to escrow Close transaction.
Project Close-out • •
Remove property from marketing and commercial databases. Project de-brief with client
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Nothing compares to what’s next.
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