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Experienced self-storage owners and potential buyers are increasingly hiring a self-storage broker. Sellers use brokers in order to maximize the return on their property. Present their properties to a wider audience and process all the details of the sale of their business. As well as good commercial movers Manhattan, a good broker will have extensive industry knowledge and a proven track record in the industry.
Why should you consider hiring a self-storage broker?
Even the most well-trained owner lacks a few key resources when he gathers alone to sell his business. Here are some of the most important benefits that sellers can get by using everything a professional broker can do to complete the smooth selling and closing process and ensure that all possible resources are used to sell real estate as quickly as possible.
A large pool of prospective buyers
The rationale for choosing to work with a broker may be different, but there is a universal agreement. Hiring a national-level commercial broker gives the property owner the advantage of attracting a wider base of potential buyers.
The broker has relationships with the most qualified buyers in the industry. And you simply do not have the opportunity to display your property in front of these qualified buyers. Except to work with an experienced broker. The larger the pool of buyers, the higher the likelihood of obtaining the maximum potential selling price for your property.
Pricing the property for your best advantage
Your broker knows how to evaluate your property based on industry. The broker gives a reliable assessment of the value of your property. And then advises you and works with you to determine the changes that can be made to maximize its value. And to remind you to always keep your storage clean so it doesn’t lose its value.
To ensure that the seller receives the highest price and best selling conditions for the self-storage facility, it is necessary for the broker to conduct a quality marketing campaign for the business, bring the business directly to the market and actively request several offers.
Protecting your best interests
Buyers with a lot of experience plan to buy your property as cheaply as possible. They do not want to compete with many other buyers. They know the tricks of the trade, and independent sellers intersect too often in this regard. Small independent sellers expose their interests to much greater risk when they try to sell their property on their own without hiring a self-storage broker.
Finding a buyer who is willing to pay the desired price is only one step in a very complex transaction with its many moving parts. Real estate transactions are notorious for failing during contract negotiations. Proper verification of the seller and the buyer, contingency management, and, finally, closing. Those are all very complex processes that require careful management to ensure that neither sales nor closing will be derailed by surprises.
Having an expert mediator
Just like Manhattan movers, a quality broker is more than an expert in one area, on marketing and sales. Throughout the process, until the closing, the broker performs certain forms of mediation. Which are inherent in the role of a broker within certain legal limits. The broker stays informed of all possible issues related to the legal aspects of the process. Including geodetic, financial and banking components. An effective broker not only helps you get the best price for your property. But also saves you the headache and precious time needed to get your transaction really completed.
Resources that a quality broker provides
Choose a broker who has a team of experts to manage each of the above areas of the transaction process. So that you receive individual attention to each step. Avoid using a broker in which only one person performs all of the following duties.
- Full-time marketing department. The best brokers have a special marketing team that prepares the most advanced individual marketing packages. Including OM research and presentations, email campaigns, online presence, and social networks.
- Transaction department. A high-quality broker will have in the team a full-time transaction manager who successfully copes with any problems that may arise. The broker understands that getting a sales contract is only the beginning of a very large amount of work that needs to be done to complete it. A transaction manager is there to help you avoid the many common pitfalls that sellers so often fall into.
- Underwriting department. The best brokerage firms come with their own underwriting department with a full-time financial analyst. He needs to ensure that your transaction is well-signed, prompting buyers to pay you the maximum cost of your property.
What about the payment of the brokerage commission?
Selling alone in an attempt to avoid paying a broker’s commission may ultimately cost you more. If you do not have enough market experience, professional connections and enough time, hiring a self-storage broker is a smart choice. Sellers usually find the commissions they pay are worth it.
You can imagine that you would save a commission if you sold your self-storage yourself. But if there were a lot of mistakes in the selling process, you may understand the benefits of hiring a self-storage broker too late. A successful broker works hard, creates the right prospects for you. And tirelessly protects your interests in every detail when selling your property. And also makes sure that your self-storage has all the makings of decent storage.
Successful brokers have built industry relationships throughout their careers, which is very beneficial for sellers. However, you should consider several criteria to make sure that you are choosing the best broker for your needs.
- Self-storage specialist – choose a real estate broker who not only specializes in selling self-storage funds but also has extensive experience and great success in this particular market segment.
- Team approach. As a seller, choose a broker who uses a team approach and a thorough, formally detailed process of sales and transactions to ensure that all requirements for your transaction are met.
- Recommendations and track record – You need to feel comfortable with your broker. Ask for recommendations and call them to inquire about their experiences. A successful broker is proud of excellent recommendations and invites you to contact some of them. Also, look at the track record of your potential broker. See how many storages they sold in the last year or two and whether they work with the most active buyers in the country.
An experienced broker brings extensive industry knowledge to the process. And is able to optimize pricing and solve typical problems inherent in the sale and purchase of a self-storage business. For these reasons, both sellers and buyers believe that hiring a self-storage broker who fulfills the requirements and directs the necessary actions leads to a much smoother, more accurate and thorough process for all participants. And gives a result that ultimately satisfies both parties.