Here at Commercial Brokers International (CBI), we have a mantra that our agents are constantly reminded of every day. It is ABC – “Always Be Closing.” However, this saying works only in theory. In reality, this is not always happening for two reasons. One, the process of selling real estate is a lengthy one, and includes qualifying, researching, etc. Two, agents are sometimes not doing enough to close more deals. The following are three main reasons, according to co-founder of Pono Asset Management, George Pino.
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As a tenant to a commercial property, you might want to make various changes to your property so that it is more marketable. Structural changes almost always need to be consented to by the landlord with a submitted plan for approval. Nonstructural changes can sometimes be made if they are relatively simple, such as changing the carpet and the landlord already designated in the lease that such changes are ok.
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Let’s say you’re determining the price of rent for various apartments in a multifamily property. You want to base this on many factors including the location, asset class, etc. Another one of those factors might be the average income for that area. There are many ways of determining that average. Which one is going to the better choice in the context of setting the price of your lease?
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