Burt M. Polson - Commercial Real Estate Broker

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Commercial Sales, Leasing, and Consulting

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Filtering by Tag: commercial

Commercial vs residential real estate salespeople

If you sold or purchased a house, there is a good chance a residential agent assisted you. If you are a business owner or an investor, then you most likely interacted with a commercial broker at some point.

Both residential and commercial salespeople have several things in common. Both need to be licensed with the state, both use real estate contract forms, and both receive a commission as payment for their work.

However, there are many differences not only in the types of real estate handled, but what each does, how they stay on top of the market and the resources available to them.

Selling and Leasing

Commercial brokers sell and lease commercial real estate. Investment real estate such as a retail storefront or industrial building has tenants who come and go. Property owners usually use the services of a commercial broker to secure a new tenant.

Residential agents usually only sell houses or help buyers purchase a home.

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5 avoidable risks for commercial property owners - part 1

“I thought the only risk you had was making sure the rent check cleared the bank,” exclaimed Paula, a friend of mine who is considering investing in commercial real estate.

Jokingly, I had to explain that investors do not just sit back collecting rent checks each month. There are ongoing responsibilities an owner should perform during her ownership to not only ensure a happy tenant but also mitigate risk.

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Shaking up real estate values with the new fault maps - part 1

I recall going on a run at Alston Park in Napa after the earthquake to find a six-inch crevice that opened up across several trails. Previously living in Browns Valley in Napa I pinpointed the location of my former home on the new Alquist-Priolo earthquake fault zone map to find the house is now within the yellow block signifying it lies within the earthquake fault zone. I am thankful I sold when I did.

When I purchased the home, I suspected the fault was in the area of Century Oaks Park based on previous maps, so I always had bought earthquake insurance. I sold the home back in 2011 and had never experienced an earthquake in that house.

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Tomāto or Tomăto - Real Estate Documents Simplified

There is a lot of paperwork in a real estate transaction. As a real estate broker, I have access to over 250 forms in the CAR library and close to another 90 in the AIR commercial library. These are most of the forms we need for a transaction, but we have a few more we use on a daily basis.

It is not always clear what the document contains based on the name when we receive it from other brokers. We like nomenclature, acronyms and giving documents obscure names as well as borrowing names of documents from other industries.

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8 Commercial Trends of Commercial Real Estate

Gone are the four basic sectors of commercial real estate: retail, office, industrial and multi-family. They are still very much a part of many portfolios, but the investor and broker will need to consider several new categories.

 

Real estate investors and brokers alike must consistently remain nimble for the ever-changing demographics, laws, and business needs to remain relevant.

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How The New Laws Will Affect You

According to Business Insider there are some ridiculous laws on the books in states across the US. Here are just a few:

 

  • It's a misdemeanor to try to pass off margarine as real butter in Iowa.

  • In Minnesota, any game in which participants attempt to capture a greased or oiled pig is illegal.

  • As of 1973, it's illegal to carry away or collect seaweed at night in New Hampshire.

  • In Florida, there's no dwarf-tossing allowed.

  • If a frog dies during a frog-jumping contest in California, it can't be eaten.

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Top 10 Reasons You Should Not Sell (Your Commercial Investment)

It can be tempting to sell especially when we are told it is a seller’s market. We may feel an urgency to place our property on the market--reaching for the best possible price.

Just as there are really good reasons to sell when the market is hot there are also reasons not to sell.

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12 Step Annual Check-Up for Commercial Property Owners - Part 3

Protecting your real estate investment takes time, effort and a plan. With my 12 step annual check-up you will have all you need to annually review your property. Now is an opportune time to implement these steps to insure your investment will continue to grow and pay you dividends.

In parts one and two we discussed leases, visiting your property, maintenance, bidding, planning, reviewing energy savings and refinancing. In this final part we will review meeting with the professionals on your team:

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12 Step Annual Check-Up for Commercial Property Owners - Part 2

You may be fortunate enough to have a commercial property investment that does not take much of your time to manage. In fact, some investments are just a matter of making sure the rent was deposited in your bank account that month.

Then there are properties that are much more hands-on. In either case it can be easy to overlook steps to take that could save you money or possibly cause issues that become a bigger headache later on.

 

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12 Step Annual Check-Up for Commercial Property Owners - Part 1

It can be easy for commercial property owners to become complacent. The nature of some types of commercial properties can develop a sense in their owners that all is good when they should be proactively performing an annual check-up.

The terms in a lease could require the tenant to take care of the maintenance causing the owner to take on the attitude that all is good as long as the rent is being paid.

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