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I had been selling houses for years before I ever came into possession of a piece of commercial real estate. Compared to selling commercial realestate, the housing market is easy. It is not too hard to see what areas are likely to continue to grow and what areas are going to dwindle, what people will pay for a house and which way the market is going, or even how to deal with the individual buyer who is checking out your place. With commercial real estate sales, however, things can be a little bit trickier. First off, The value of a piece of real estate can vary greatly from block to block. If you are selling commercial real estate on a high traffic corner, you can make a killing off of it. Selling commercial real estate only one block away, however, you might not be able to make nearly as much money. Perhaps the saying “location is everything” is true for the housing market, but this is even more true with selling commercial real estate.
Of course, there are many other factors to selling commercial real estate. Your neighborhood is a big deal, as is your zoning. When I was younger, I decided to buy commercial real estate to try to start up my own buyer. The problem was that I was located near some residential housing. Every time I had shows there, people would complain. Although the man selling commercial real estate to me had correctly informed me that the area was zoned for music venues, he did not tell me how much of a pain the neighbors were. It seemed like practically every hour, we would get a noise complaint – even on nights when we did not have music playing.
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