Unless you have potential buyers lined up, you should contact a commercial real estate broker to help sell your property quickly and correctly. A great commercial real estate broker can provide you with a list of active qualified buyers; tell the broker if you want to sell fast.
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If You’re Hesitant To Hire A Broker For Your Multifamily Property Read This
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A commercial real estate broker works with property owners and tenants to buy, sell, and lease real estate for commercial use. Compared to buying a home, where a lot of emotion is involved, a commercial agent understands that investment real estate is mainly a numbers game.
Demand for apartment buildings will remain strong, considering many buyers have already been priced out of the market. Due to rapidly rising mortgage rates, buyers need to earn more than $100,000 to afford to buy the median-priced home. However, only 15% of the renters earn that income.
The year is still young. Inflation, interest rates, supply chain, and geopolitical events are the main factors determining how commercial real estate will perform in the following months.
These are the average available rates from eXp Commercial’s Capital Partner CommLoan database of 700+ commercial lenders as of 1/16/2023 and are provided for comparison purposes only. Actual rates are dependent on property and sponsor.
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