Commercial Property for sale at Geno's Keystone Real Estate
Please call us today if you are interested in listing your commercial property or buying a property that is for sale!
Buying, Selling or Leasing Commercial Real Estate FAQ
Should I hire a real estate broker?
The goal of every seller is to maximize profits and every prospective buyer wants to get property as cheaply as possible. Having to pay a real estate commission or other professional fees as part of a real estate deal works at odds with these goals. Consequently, many business people who are sophisticated when it comes to negotiating real estate deals may feel comfortable with doing a lot of the work themselves on commercial real estate deals. However, even sophisticated business people will still rely on professional advice when it comes down to actually closing a deal, as the potential pitfalls can be so significant. The bottom line is that you should seriously consider hiring a real estate professional and professional fees should be factored in as a cost in doing any commercial real estate deal.
There are many reasons you should hire your own real estate broker or agent who works for a broker.
- The broker or agent should have expertise in commercial real estate. Even if you are just leasing property, a real estate broker may be invaluable.
- Good agents will research and find property for you.
- The agent will also serve as an arm's-length intermediary to negotiate on your behalf which can be much more effective than negotiating the deal yourself. Wouldn't you love to have an agent representing your interests when you buy a new car? It helps you to avoid high-pressure tactics, prevents you from making rash decisions and makes it easier for you to say "no."
- Real estate agents have worked on similar deals all the time, so presumably know what they are doing. Their knowledge and contacts can be well worth the cost of a commission. They can also help you with the paperwork to make sure you don't do something ignorant when submitting an offer.
Should buyers hire a broker?
- If you are buyer, it may make no sense not to hire a broker when it would usually be at no extra cost to you. The seller pays the commission in most real estate deals.
- Commercial real estate transactions are typically more complex than residential transactions. Usually they involve large sums of money and increased liability for both parties. Unlike a residential transaction where the law provides basic consumer protection for the buyer, the law takes a neutral approach in its treatment of commercial transactions.
Courts expect that both parties to commercial real estate transactions are sophisticated enough to understand the contract terms. Therefore, they will hold the parties to the terms of the sales agreement - absent illegality or fraud. For these reasons and others, a buyer and seller of commercial real estate should have professional help closing the deal.
Geno's Keystone Real Estate can assist you with buying or selling property in Northeast and East Central Iowa Including the counties of Clayton, Allamakee, Winneshiek, Fayette, Linn and the communities of Waukon, Decorah, Calmar, Harpers Ferry, Lansing, Farmersburg, St. Olaf, Fayette, Clermont, Postville, McGregor, Marquette, Elkader, Monona, Luana, Marion, Cedar Rapids, Hiawatha, Robins, Toddville, Mt. Vernon, Palo, Bertram and Springville.
We can assist you in all of your Real Estate needs whether you are buying or selling Residential, Commercial, Mobile Homes, Acreages/Farms, Lots/Land or you have a need for an Estate Auction. Yes, we can show you properties listed with other companies too.
For more information about a specific property listed with us or another Real Estate Company, please contact Lynn Geno at 563-880-3044.