Developer · Panama City, FL · Member since 2020 · 26 posts · 2 votes
I have a rental townhouse and a business in a 5300sf commercial space that I own. I’m also renting out a room in my house.
I’d like to quit doing what I’m doing and pursue real estate investing full time but first I need to rent out my building. I’ve listed it on loopnet, FB marketplace and Craigslist. Any other suggestions how to market it? Should I enlisted the help of a real estate agent? What are their fees. I know everything’s negotiable but Someone told me 10% of the term of the lease. On a 5yr term that would be $30K!!!
Real Estate Broker · Portland, OR · Member since 2019 · 4k+ posts · 2k+ votes
6y
Well, 50% of leads are drive-by. Make sure you have ugly and noticeable signs (within code restrictions of course). If you're on LoopNet, that's about 50% of what brokers do.
On a lease (I do very few of them since I broker apts), they'll probably ask 5% for first 5 years and then less for each re-up, but that's negotiable.
Real Estate Broker · Portland, OR · Member since 2019 · 4k+ posts · 2k+ votes
6y
I understand the reluctance, but look at most spaces available, they have a big broker sign since most guys want to see the space at the location - Something VR can't do.
Well, I guess VR could, but have no idea how you accurately capture the ambiance external to the space :)