Selling a commercial property..Questions to ask agent?

[Wacky Racer]

As per thread title.

After fifty years I am retiring, and putting my shop up for sale (Property only) and am about to approach a few local agents.

Obvious questions to ask:-

Length of any tie in?

Commission rate....I thought 1% + VAT reasonable.

Are they on Rightmove etc?

Property value around £350,000+ Freehold, good trading position in busy town NW England.




The alternative is put it up for auction, but I feel this might be the way forward later on.



Thoughts?

[Brett748]

I would appoint a commercial agent and get them to value it and put it on the market.

High street retail is a tough market presently as rent has contracted and yields increased which is not good for capital value.

[Wacky Racer]

Brett748 said:

I would appoint a commercial agent and get them to value it and put it on the market.

High street retail is a tough market presently as rent has contracted and yields increased which is not good for capital value.

Thanks.

Yes, definitely one who specialises in commercial property.

I've got three coming at the end of the week.

[gotoPzero]

Defo get 3 or 4 out to view the property. I have just been through it.
1% is about right yes plus disbursements.

Ask if they have buyers waiting. Some have a list.

Also be ready to go them and chase them. I contacted about 8 or 9 agents and only got 4 to actually come out in the end.

Out of the 4 who came out 2 were not professional - despite being from larger outfits.

The other 2 were close but one did a better example sales brochure and actually answered phone calls and emails quickly where as the other always went to VM and took 2 days to respond to emails!!!

Good luck!!

[Wacky Racer]

gotoPzero said:

STUFF

Thanks for your reply...appreciated