LOL! Yesterday morning I compiled an info packet for one of my Mohave County AZ Commercial Real Estate offerings, as is standard practice for my business.
I do this for one main reason:
To make it so easy for the buyer's broker and client to decide to buy my properties that they can move quickly.
I've done much (MOST) of the legwork for them.
It occurred to me that yall might want to know what and how I do this.
This is NOT specific to CRE - it can be very much used in residential offerings to a degree (the differences may be that you include area amenities, school info, local dog parks, city council information, utility resources).
Tip: go to your Seller's Property Disclosure Statement and see what information would pertain to the property you are marketing. Find that information and make it available via the source (HOA, architectural board, etc.)
It IS, in my opinion a necessity for CRE.
FIRST, I think in terms of my own due diligence. What about this property would a buyer ask me, that I would want to know and where to find out?
So first stop is the County for a full permit file including building, business, well and septic if applicable. Let's go back in time as far as possible to see what has been done to this building and how it has been used. Use is good to know - if a buyer wants to use the property similarly to recent uses on that property, there may be less requirement from the permitting departments in terms of improvements.
Next, seller disclosures. I ask for sellers to provide comprehensive info and I include collateral for the statements they are making; for example if there was a roof leak and insurance claim was made, let's include the claim and any history. A lease extension document. Basic financial statement, etc.
Demographics. My CCIM tools come in so handy here. I can run reports from market gap analysis (whether there is an overabundance or need for certain types of businesses) to flood maps, traffic count reports to psychographics. Include those specific to the property type and location.
Tax bills. Plat maps to show easements. County setbacks for the zoning type.
And last but not least, a color flyer with the basic property info and pics as a cover page.
This package answers most of the questions a buyer could possibly have, makes their agent look like a superstar, and allows us all to either rule out or move forward on a deal with confidence.
My sellers think I'm Superchick. They're right. It's a lot of work but this is how I earn my money!