Shari, do you have any experience or expertise in the commercial real estate business?

If not you need to partner up with a commercial practicioner to make sure your seller prospect is best served.

Shari - I agree with Jim.  By "default" new licensees are qualified to do residential real estate - however - MUST not practice outside of their area of expertise - so if it were me, and I wasn't interested in pursuing commercial transaction, I would find someone who handles these types of transactions and take a referral fee.

I guess the first question is this: Is there land that is conveyed with the espresso stand? Or are you just selling the stand itself? If you're selling both the stand and the land, it should be fairly easy to determine the market value for the lot, and then add the value of the stand on top of that. But since it's a commercial business, there would obviously be some additional considerations.

Shari...I say next, another words refer this out or split it 50/50 and go with a seasoned Commercial agent.  It's better to get 50% of something than 100% of nothing. Remember you are in this for the long haul and I am sure you want to build a referral business.  I train Residential and yesterday one of our agents asked me to go on an appointment with him and I recommended he go with one of our seasoned commercial agent.  He is going with the seasoned Commercial Agent next week for the appointment.    

Jim and Suzanne-   I love learning new things..I know it is outside my expertise-for now-but If I work on it I will gain knowlege.  I just spoke to my broker about it and I feel confident that if questons come up in within the deal she will be there..I am the type of person that if I don't know, I will find out...She gave me her advice on pricing.. which was that she had sold one about 3 years ago, to look in the archives and see what it sold for...I am getting the P and L tomorrow, which may or may not be the best to go by since a lot of business owners like to show a loss for tax reasons.  I think that I will do well with my broker helping, but I just wanted to know if any of you have done such a listing... and to know how YOU figured out the listing price. 

Rich-  No land, just the cart and the business. 

Shari ~ where I work this would not be called real estate.  It is a business opportunity.  The evaluation process is totally different.  Good luck, hopefully your broker knows what s/he is doing.

kk

Thanks Kristal...I know a lot of people are going to say shame on me for taking the listing and not referring it out.. My broker has been in the biz for years..she was one of the first female agents in my area. 

Shari, in most markets, I would share the same sentiments as Jim and Suzanne, to refer it out or partner with a commercial agent. But in your instance, as long as your Broker is supportive, go for it. You will obviously need to know what the revenue figures were for 2006; current inventory/materials costs, structure cost, etc..  

Shari, I will echo what others have said. Regardless of your desire to Learn New Things (which is admirable) you do need to remember that your first duty is to serve your client, not build your knowledge database at his expense. The tough part about stepping out of your comfort zone is that You Don't Know What You Don't Know.

That said, you sound pretty sharp and committed and I think you'll be fine. Good luck!

www.sellwithsoul.com

Shari - i stumbled across your post some 5 months later.... how did things go????  ron

RON-  It's gone really good...no problems!!