Watch the video here to learn more about why this website is quickly becoming the premier website for linking owners, tenants and lenders with pre-screened commercial real estate professionals in markets across the country.

In today’s challenging economy, Owners and Investors are seeking out the best values available in commercial real estate and attempting to negotiate the optimum terms to lease or purchase real estate.  In order to achieve such goals and objectives Owners and Investors should utilize a qualified and experienced professional.  Following are ten simple reasons to hire a commercial real estate broker.

Experience: Commercial real estate is not rocket science yet can be complex in structuring advantageous lease or purchase terms.  Nothing in business can replace years of hands on experience.  You may have access to some real estate information via the library, newspapers, Google and the internet but the benefit of hands on experiences is priceless.  A seasoned commercial real estate broker who has lived through the beginning and the end of numerous transactions can offer the benefit of their experiences to your real estate transaction.  This experience is Priceless!

Market Knowledge: As in every industry, market conditions are constantly changing and opportunities are found and lost on a daily basis.  The commercial real estate industry is very proprietary on sharing information unlike the residential real estate market.  A commercial real estate broker processes hundreds of opportunities each day through various sources while filtering out the best for their clients.

Specialization: In most metropolitan cities, commercial real estate brokers specialize in an area such as the office, industrial or retail markets.  As a result, they achieve and maintain expertise in that specialty and utilize this expertize when seeking out and obtaining optimum terms for their clients.

Time Management: A business owner or manager usually has their hands full running the day to day operations of their company.  By engaging the services of an experienced commercial real estate broker, owners and managers can maintain their focus on their business while obtaining the benefits and guidance of real estate professional in quantifying and securing their new facility.

Cost Savings: The most common reason people don’t engage a commercial real estate broker is to save on the cost of a commission.  In commercial real estate the majority of properties are listed by  owners with commercial real estate firms and or have commission agreements with their in house marketing people.  In such cases a compensation or commission is already built into the pricing of the property or space and it is customary to split commissions with cooperating brokers representing tenants.  Thus, no real savings usually are achieved here.  More important aspects to consider are the cost savings that can be achieved through time management, successful negotiations, and proper deal structuring and market knowledge that only an experienced commercial real estate broker brings to the table.

Negotiations: The art of negotiating in a specific industry is honed over years of transactions.  Successful negotiation of a real estate transaction is stressful and in many cases time consuming for those involved.  A commercial real estate broker utilizes their experience in handling negotiations for their client relieving them of that stress by acting as a buffer, and freeing up their client’s time so that the client can focus on their daily business.

Deal Structure: Each and every real estate transaction is concurrently similar yet unique in its structure and function.  Proper structuring of a transaction can save a client hundreds if not thousands of dollars.  An example of potential savings deals with proper structure of “Base Year” in leases for building operating expenses.  Compounding these costs over a five year term can either be a) costly or b) savings to the tenant dependent upon the negotiated structure of the lease terms.

Professional Network: An experienced commercial broker specializing in a specific area has established a proprietary network of resources and informational contacts to assist and support their commercial real estate transactions.  This network of resources can be utilized as needed for your real estate transaction at no additional cost, or time via your commercial real estate broker.

Access to Data and Systems: An experienced commercial broker has established systems to facilitate the process and eliminate unnecessary costs.  These systems, combined with years of accumulated data are available to you via the commercial broker to assist you in the transaction process.  The result is an efficient, cost effective method of securing your real estate requirement on the most beneficial terms to you.

Integrated Services: An experienced commercial broker will be able to provide a client with integrated services relative to their real estate requirement whether they are internal or external consultants.  Securing qualified service providers such as economic incentive consultants, I.T. providers, legal and accounting services to name a few can be a time consuming and costly process added on to the stress of securing the real estate.

The author of this article, Guy Levingston, SIOR is a commercial real estate broker with Intermountain Commercial Real Estate, LLC. based in Boise, Idaho.  Guy’s area of specialization is in office properties and office tenant representation.  You can learn more about Guy by clicking on his name, above.

The moment your browser opens this website you will think you have entered the Jetsons (cartoon), but you won’t find George Jetson or even their dog, Astro.  What you will find is a well thought out website that highlights a few extremely seasoned retail brokers and a wide variety of brokerage and consulting services.  What is immediately apparent when navigating through this website is that Greenlight Retail is well versed with services that are needed in today’s commercial marketplace.  Services such as litigation support and expert witness testimony are present with their own tabs.  The site is fresh, relevant to our current marketplace and offers up informative “substantial”  information.  Congratulations to Greenlight Retail Real Estate Services for being our pick of the week.

After reviewing literally thousands of websites over the last 12 months we (Zoliath.com) can say that the best websites in our opinion are the ones that combine key information and “flavor.”  Every Friday we are going to highlight one of these websites.  Sometimes the company who owns the highlighted website will be one that advertises on Zoliath.com but this will not always be the case.  Our goal with Innovative Friday is to make our readers aware of websites that are both informative, creative, and fun.  After all, isn’t advertising by its very nature supposed to leave the viewer with a positive lasting impression?  Just like memorable commercials aired during the Super Bowl, websites can impart a positive message in each of us if presented correctly.  We hope you find these websites as visually pleasing and flavorful as we do!

Our pick for the first website to be displayed on Innovative Friday belongs to Legend Retail Group in Denver, Colorado.  This is a site that is laid out extremely well.  It combines all of the elements of an informative website and does so in a way that engages the visitor to navigate far longer than one would on a more traditional industry website.  Cheers to Legend Retail Group for being the first to make the grade with Zoliath.com.  Legend is an advertiser on our website and can be found under Commercial R.E. brokerages.

If you would like to submit other commercial real estate industry websites for inclusion in Innovative Friday please send us a link and we will be sure to take it under consideration.  The only qualification is that the website must fall into one of the categories listed in Zoliath.com.  Have a great weekend.

Link to article in Retail Traffic

A major pitfall for Commercial Real Estate Agents and Brokers when they first begin to list the property is that they inadvertently find themselves delving into aspects of law without the necessary deep experience.

Interpreting, creating, or even modifying leasing documents before a sale is the field of legal specialists and in particular the landlord’s solicitor. You will be regularly involved in negotiating new leases and changes to documentation to prepare the property for sale; hence a good working relationship with that solicitor is important.

Some lease proposals and leases are easier to create and process than others. Be aware of all potential problems, and take the precaution of getting your office manager’s approval on every lease proposal you negotiate. Take special care with retail tenancies as they are impacted by separate leasing legislation in most locations.

Never proceed to create a lease proposal or lease strategy unless you understand all the issues, and never alter any signed and final documentation. Follow these fundamental rules; you then are not likely to slip into any legal minefields.

Never rely on oral agreements. Put everything in writing.
Keep a log of all contacts with buyers, sellers, landlords and tenants. Record and date all information obtained from these sources.
Never permit your company’s approved forms to pass from your control. If you give a blank proposal or lease to prospects, you run the risk that they may modify it or use it for some unauthorized activity. In such a case, your firm might be held legally liable for the consequences.
Choose your cooperating or conjunction agents carefully, and put all agreements with them in writing before you get involved with them.
Consult your manager whenever you find yourself in an ambiguous legal or ethical situation.
Remember that all written agreements must be signed by both parties to the agreement in order to be enforceable, and each signatory must receive a copy of the agreement.
Never alter a proposal without your manager’s approval, and never change an original signed document without the full knowledge and consent of all the parties concerned. It is prudent practice to never change an original signed document, but to seek a fresh document as its replacement.
Never sign a document of any type on behalf of your client (the Landlord or property owner) without the absolute written and correct authority to so act. It is prudent practice to always get the client to sign any critical document such as a contract or lease. If the Landlord is a corporate structure (Company) it is likely that the ability to sign on behalf of your client is not an assignable matter anyway. Certain ability to sign in those circumstances is governed by common and corporations law.

Make sure you understand your Appointment to Act well and use it to its fullest advantage. Never step outside that authority to act and the duties it describes. Every property should be considered as unique. All of the items in the Leases and all the ’standard’ conditions need to be tested against the particular circumstances of your client, your client’s tenants, the property with its services, and the requirements of local and regulatory authorities. This is done before you move towards sale. This will ensure a tailor-made sale process and that the best marketing and negotiation processes are achieved.

Some Recommendations

Sort out any tenancy situations or problems early in any sale listing appointment. This may require the assistance of the Landlord’s legal advisor.
Undertake your own ‘Due Diligence’ process of the seller’s property. Start with the current title search. Also look at the lawfulness of existing uses and lease and search the Local Council and the Environmental control bodies.
Workplace Health and Safety issues should also be looked at to ensure compliance to the current regulations, and if food handling is involved in any of the tenancies, inspections by the local health inspectors may be prudent.
Do not rely on disclaimer clauses. If a document was entered into as a result of misleading conduct, the disclaimer clause will not help or protect you from any legal action.
A disgruntled tenant will not only target the actual Landlord, but will most likely join the Selling Agent in any action as a third party.
Poor tenant relations should be understood before the sale promotion starts as many a tenant has impacted a property sale and price. Buyers will usually talk to tenants about the property before they sign a contract.

John Highman is a prominent commercial real estate speaker and trainer. His other articles for commercial real estate agents and brokers can be accessed at http://www.commercial-realestate-training.com.

Article Source: http://EzineArticles.com/?Legal-Aspects&id=3773547

What is a Short Sale?
A Short Sale occurs when a Lender approves the sale of a property for less than the amount that is owed on a mortgage or mortgages. The name, Short Sale, comes from the fact that the Lender’s payoff is coming up “short”. In fact, the lender will also be paying the real estate commissions and other closings costs. The sellers in a short sale typically cannot receive any funds from the sale.

Lender Approval
A Lender must approve of the sale. This is accomplished by first sending a Short Sale Package to the Lender(s). Next, the file is assigned to a loan negotiator at the bank that reviews the Short Sale Package. At this point a negotiation will take place as the bank wants to get as much money as possible from the defaulted loan and the potential buyers want to spend as little as possible to purchase the property. During this process the bank will order a Brokers Price Opinion or an Appraisal. Once the bank agrees to accept a certain discount off the mortgage amount, Short Sale Approval Letters are furnished by the bank and a closing follows thereafter.

Short Sale Package:
1. Purchase and Sale Agreement (from Realtor)
2. Addendum to Purchase (from Realtor)
3. Authorization to Release Information
4. Two Years FULL Tax Returns
5. Two Months Bank Statements (Most recent)
6. Last Two Pay Stubs
7. Fill Out Financial Worksheet
8. A Handwritten Hardship Letter
9. If FHA, Form 90036 and Homeownership Counseling Certificate

What is an Authorization to Release Information?
An Authorization to Release Information (ARI) is a document that allows your attorney or negotiator to communicate with the lender concerning your short sale. This form will allow your attorney or negotiator to order payoff, send in a purchase offer to the bank, and to negotiate with bank negotiators. Banks will not speak to any negotiator that has not first submitted an ARI that includes the seller’s names, signatures, social security numbers, and bank account information.

What is the Financial Worksheet?
The financial worksheet is a standard form that is used to show a seller’s budget; income vs. expenses. Some lenders may require that this information be resubmitted on their own form. Your personal financial information is needed and should be as exact as possible; including gas, car payments, mortgage payments, food, medical, child care, entertainment, etc. Lenders want to see where your money is going and may deny your short sale request if there is a surplus of money at the end of each month.

Frequently Asked Questions:

Will I Qualify?
To qualify for a short sale, a property owner must typically be in default. This means that the property owner is behind by at least three payments. Most often, there is also a foreclosure case filed against the property owner by the Lender.

How Will This Affect My Credit?
If you are in default, chances are that the Lender has already reported you to the credit bureau and damaged your credit. A Short Sale will prevent your property from being foreclosed upon and sold at auction, further hurting your credit. While a Short Sale will not solve your credit problems, it is better than the alternative.

What is a Hardship Letter?
A Hardship Letter is a simple letter provided to the bank that illustrates the reason(s) why you have fallen behind in your payments. The letter should include any and all events that have led to financial hardship, including, but not limited to, divorce, job loss, bankruptcy, reduced hours at work, illness, death or disability. The Hardship letter should also include any measures you have taken to sell the property. For example, did you list the property with an agent or For Sale by Owner? If so, how many showings were there? Also, it is wise to include any repairs that are needed on the property in the hardship letter.

Disclaimer: While The Suncoast Lawyer is in fact a lawyer, nothing in this article is legal advice. Please consult an attorney that can become familiar with the details of your case and then offer advice that is correct for your specific situation.

The Suncoast Lawyer, Attorney Christopher J. Horlacher, is an attorney practicing law in Sarasota, Florida. Attorney Horlacher focuses mainly on the areas of Real Estate Closings, Foreclosure Defense, Short Sale Negotiation, Construction Law and Business Law.

His website is http://www.thesuncoastlawyer.com and his email address is Chris@thesuncoastlawyer.com

Article Source: Short Sale Basics